Zimmer Biomet Sales Guidance Is Ahead Of Expectations

By Ciara Linnane Markets MarketWatch Pulse

Zimmer Biomet Holdings Inc. said Tuesday it expects fourth-quarter net sales of about $2.013 billion, up 4.1% from the year-earlier period, and ahead of the current FactSet consensus of $1.972 billion. The maker of orthopedic reconstructive products said full-year sales are expected to come to $7.684 billion, up 28.1% over the year earlier. The FactSet consensus is for full-year sales of $7.642 billion. The company is unable to provide updated guidance for full-year EPS using Generally Accepted Accounting Principles as it works to complete the accounting for its acquisition of LDR Holding Corp., but said it expects adjusted EPS to come in towards the upper end of its range of $7.90 to $7.95. Shares rose 1.2% premarket, and are up 5.4% in the last year, while the S&P 500 has gained 18%.

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