November 21, 2020
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Zimmer Biomet announces increased net sales in ‘encouraging’ third-quarter 2020 results

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Zimmer Biomet has released its third-quarter 2020 financial results, according to a press release.

The company reported third-quarter net sales of $1.929 billion, a 2% increase from the prior year period (1.1% on a constant currency basis).

According to the release, Zimmer Biomet brought in $376.8 million in adjusted net earnings and an adjusted diluted earnings per share of $1.81 for the quarter, a 2.3% increase from the prior year period.

“While the stronger than expected recovery of elective procedures in the third quarter was encouraging, we also remain focused on ZB’s strong operational execution, which continues to drive confidence in our underlying business,” Bryan Hanson, president and CEO of Zimmer Biomet, said in the release. “It is important to note that the challenges and fluidity around COVID-19 persist as we move into the end of the year. Still, we will continue to transform our business, invest for greater value and prioritize innovation to better position the company for accelerated growth over the long term. I am so proud of our global team for the support we provide health care professionals and patients every day and our ongoing commitment to the ZB mission to better the lives of people around the world,” Hanson added.