Zimmer Biomet Reports Second Quarter Earnings Results for FY2023
August 9, 2023
🌥️Earnings Overview
On August 1 2023, ZIMMER BIOMET ($NYSE:ZBH) reported their earnings results for the second quarter of FY2023 that ended June 30 2023. Total revenue for the quarter was USD 1869.6 million, a 4.9% increase from the same quarter the prior year, while net income was USD 209.6 million, a 36.4% year-over-year increase.
Stock Price
The company’s stock opened at $131.1 and closed at $132.3, down 4.3% from its last closing price of 138.2. In addition to these financial results, Zimmer Biomet announced a number of strategic initiatives to improve its competitive position, such as the launch of new product lines, reorganization of its business segments, and investments in new technologies. At the same time, the company reported that it had taken steps to reduce costs and improve operational efficiencies. Overall, the results were largely in line with analysts expectations, but the stock market responded negatively to the news due to concerns about the company’s ability to execute on its strategic initiatives in a highly competitive market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Zimmer Biomet. More…
| Total Revenues | Net Income | Net Margin |
| 7.2k | 505.6 | 12.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Zimmer Biomet. More…
| Operations | Investing | Financing |
| 1.35k | -590.2 | -823.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Zimmer Biomet. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 21.29k | 8.92k | 59.25 |
Key Ratios Snapshot
Some of the financial key ratios for Zimmer Biomet are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.8% | 23.2% | 11.8% |
| FCF Margin | ROE | ROA |
| 14.2% | 4.3% | 2.5% |
Analysis
At GoodWhale, we conducted an analysis on the fundamentals of ZIMMER BIOMET. Our Risk Rating system indicates that ZIMMER BIOMET is a high risk investment in terms of financial and business aspects. We have detected three risk warnings in the income sheet, balance sheet, and non-financial areas. If you are considering investing in ZIMMER BIOMET, we recommend that you register on goodwhale.com to investigate these risk warnings further, as well as to get a better overall understanding of the company’s fundamentals. More…
Peers
The company operates in two segments, Reconstructive and Dental. It offers knee, hip, shoulder, elbow, hand and wrist, foot and ankle, and biologics products. The company also provides dental prosthetics, including dental implants and CAD/CAM systems; and digital equipment for dentists and laboratories. Zimmer Biomet has a market cap of $24.4 billion and is headquartered in Warsaw, Indiana.
– Alcon Inc ($LTS:0A0D)
Alcon Inc is a global medical company that specializes in eye care products and services. The company’s market cap as of 2022 is 30.09B, and its return on equity is 1.87%. Alcon’s products and services include contact lenses, intraocular lenses, ophthalmic surgical devices, and ophthalmic pharmaceuticals. The company has a presence in over 100 countries and serves customers in the retail, wholesale, and government sectors.
– Sonova Holding AG ($LTS:0QPY)
Sonova Holding AG is a Swiss manufacturer of hearing aids. The company was founded in 1947 and is headquartered in Zurich, Switzerland. As of 2020, Sonova Holding AG had a market cap of 15.37 billion Swiss francs and a return on equity of 18.9%. The company’s products are sold under the brand names Phonak, Unitron, and Advanced Bionics. Sonova Holding AG’s products are available in more than 100 countries.
– Tandem Diabetes Care Inc ($NASDAQ:TNDM)
Tandem Diabetes Care Inc is a medical device company that develops, manufactures and sells insulin pumps for people with diabetes. The company has a market cap of $2.56 billion and a return on equity of -8.79%. Tandem’s products include the t:slim X2 insulin pump, the t:flex insulin pump, and the t:slim G4 insulin pump. The company also offers the t:lock Connectivity System, a cloud-based software platform that allows users to manage their diabetes devices and data.
Summary
Zimmer Biomet reported strong earnings results for the second quarter of FY2023 ending June 30 2023. Total revenue increased 4.9% year-over-year, and net income rose 36.4%. Despite this, the stock price reacted negatively on the news, indicating that investors may have had higher expectations for the quarter. Nevertheless, it seems as though Zimmer Biomet is performing well financially, with impressive year-over-year growth in both top line and bottom line metrics.
Given the recent dip in stock price, now might be a good time to consider investing in the company. Analysts are likely to provide more insight into Zimmer Biomet’s performance and future prospects in the coming weeks.
Related Posts
Recent Posts
