Zimmer Biomet on May 2 posted $1.8 billion in revenue for the frst quarter of 2023.
Five things to know:
1. Total revenue grew 10.1 percent year-over-year.
2. Knee sales were $762.5 million, a 15 percent increase from the firts quarter of 2022. Hip sales rose 9.3 percent with $492.8 million.
3. Sports medicine, extremities, trauma, craniomaxillofacial and thoracic sales were $433.4 million, a 4 percent increase year-over-year.
4. Zimmer Biomet is raising its 2023 guidance and projecting a 5 percent to six percent increase if full-year revenue compared to 2022.
5. The company saw net earnings of $232.5 million.