Zimmer Biomet Holdings (ZBH) Tops Q1 EPS by 7c; Boosts FY16 Outlook

Zimmer Biomet Holdings (NYSE: ZBH) reported Q1 EPS of $2.00, $0.07 better than the analyst estimate of $1.93. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.88 billion.

GUIDANCE:

Zimmer Biomet Holdings sees FY2016 EPS of $7.85-$8.00, versus prior guidance of $7.80-$7.95 and the consensus of $7.90.

The Company increased its full-year 2016 constant currency revenue and adjusted earnings per share guidance. The Company now expects constant currency revenue for the full year 2016, as compared to adjusted pro forma 2015 revenue, to increase between 2.0% and 3.0%. Previously, the Company had expected full-year constant currency revenue to increase between 1.5% and 2.5%.

Additionally, the Company now expects foreign currency translation to decrease full-year 2016 revenues by approximately 1.0%, resulting in reported revenue growth between 1.0% and 2.0% when compared to adjusted pro forma 2015 revenue. Previously, the Company estimated foreign currency translation would decrease revenues by 2.0%.

For earnings history and earnings-related data on Zimmer Biomet Holdings (ZBH) click here.

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