Zimmer Biomet reports Q3 adjusted EPS $1.90, consensus $1.86

Reports Q3 revenue $2B, consensus $2.01B. “Our third quarter performance was anchored by 5.6% organic revenue growth in our critical U.S. business, driven by accelerated adoption of our key new products referred to as the ‘Magnificent Seven,'” said Ivan Tornos, Chairman, President and CEO of Zimmer Biomet (ZBH). “This is highly encouraging, especially as we prepare to launch a second round of new-to-the-world technologies, including the first fully autonomous robot in orthopedics and our iodine treated hip, the world’s first orthopedic implant with Iodine Technology that inhibits bacterial adhesion and prevents biofilm formation to help address Periprosthetic Joint Infections. We are excited to launch our iodine treated hip in Japan soon, having received PMDA approval in September. All that said, our strong performance in the U.S. was partially offset by weakness in Latin America, Emerging Markets in Europe and non-core businesses, which emerged late in the quarter and are being addressed.”