WASHINGTON (dpa-AFX) - Zimmer Biomet Holdings, Inc. (ZBH), a medical technology company, on Wednesday reported lower profit for the third quarter, compared with the prior year quarter. Further, the firm raised its full year earnings per share and revenue outlook.
For the third quarter, the company reported net earnings of $191.6 million or $1.0 per share compared with $230.9 million or $1.16 per share in the previous year quarter.
Adjusted net earnings were $362.8 million or $1.90 per share, while it was $377.0 million or $1.90 per share a year earlier.
Operating profit declined to $307.6 million from $351.3 million in the prior-year quarter.
Adjusted operating profit was $518.8 million, compared to $531 million in the prior-year quarter.
Net sales rose to $2.06 billion, up 3.1 percent from $2.0 billion from the prior-year period. On a constant-currency basis sale increased 3.7 percent.
Looking ahead, Zimmer Biomet now expects adjusted earnings per share at a range of $8.50-$8.60 from the previous range of $8.47-$8.59.
For the Full year 2026, reported revenue growth is forecast at 4.4 percent to 4.9 percent, compared with its prior outlook of 3.9 percent to 4.9 percent.
Constant-currency revenue growth for the fiscal year is expected at 4.1 percent to 4.6 percent, up from the earlier range of 3.4 percent to 4.4 percent.
Full year organic constant-currency revenue growth outlook is projected at 3.0 percent to 3.5 percent from its previous forecast of 2.25 percent to 3.25 percent.
In pre-market, the shares were trading 0.87 percent lower at $97.90, after closing Wednesday's trading 0.30 percent lower on the New York Stock Exchange.
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