Zimmer Biomet Boosts FY23 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Tuesday, musculoskeletal healthcare firm Zimmer Biomet Holdings Inc. (ZBH) raised its adjusted earnings and revenue growth outlook for the full-year 2023.

For fiscal 2023, the company now projects adjusted earnings in a range of $7.40 to $7.50 per share on revenue growth of 5 to 6 percent from last year on a reported basis.

Previously, the company expected adjusted earnings in a range of $6.95 to $7.15 per share on projected revenue growth of 1.5 to 3.5 percent from last year on a reported basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.06 per share on revenue growth of 3.0 percent to $7.14 billion for the year. Analysts' estimates typically exclude special items.

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