Zimmer Biomet on August 1 posted $1.8 billion in revenue for the second quarter along with financial results for the first half of 2023.
Six things to know:
1. Total revenue grew 4.9 percent year-over-year.
2. Knee sales were $771.4 million, a 9.4 percent increase from the second quarter of 2022. Hip sales rose 3.5 percent with $504.3 million.
3. Sports medicine, extremities, trauma, craniomaxillofacial and thoracic sales were $442.7 million, a 0.8 percent decrease year-over-year.
4. The company saw net earnings of $209.6 million in the second quarter.
5. For the second half of 2023, total sales were $3.7 billion, a 7.4 percent increase year-over-year.
6. Zimmer Biomet is raising its 2023 guidance and projecting a 6.5 percent to seven percent in full-year revenue compared to 2022.