Zimmer Biomet Holdings (ZBH) Misses Q3 EPS by 4c, Miss on Revenues; Lowers FY17 EPS Guidance Below Consensus; FY17 Revenue Outlook Below Consensus

Zimmer Biomet Holdings (NYSE: ZBH) reported Q3 EPS of $1.72, $0.04 worse than the analyst estimate of $1.76. Revenue for the quarter came in at $1.82 billion versus the consensus estimate of $1.83 billion.

Guidance

The Company is updating its full-year 2017 constant currency revenue and adjusted earnings per share guidance. For the full year, the Company now expects revenue in the range of $7.76 billion to $7.80 billion, representing growth of 1.0% to 1.5% compared to the prior year and constant currency revenue growth of 0.9% to 1.4% compared to the prior year, inclusive of approximately 120 basis points of contribution from the LDR transaction. Previously, the Company had expected full-year, constant currency revenue growth between 1.8% and 2.7%, inclusive of approximately 120 basis points of contribution from the LDR transaction. Additionally, the Company now expects its full-year 2017 diluted earnings per share to be in a range of $3.80 to $3.93, and in a range of $8.01 to $8.07 on an adjusted basis. Previously, the Company had expected full-year 2017 diluted earnings per share to be in a range of $4.15 to $4.35, and in a range of $8.20 to $8.30 on an adjusted basis.

For the fourth quarter of 2017, the Company expects revenue in the range of $2.01 billion to $2.05 billion, representing growth of 0% to positive 2.0% compared to the prior year period and constant currency revenue growth of negative 1.8% to positive 0.2% compared to the prior year period. Additionally, the Company expects its diluted earnings per share for the fourth quarter to be in a range of $0.94 to $1.08, and in a range of $2.08 to $2.14 on an adjusted basis.

GUIDANCE:

Zimmer Biomet Holdings sees FY2017 EPS of $8.01-$8.07, versus the consensus of $8.23. Zimmer Biomet Holdings sees FY2017 revenue of $7.76-7.8 billion, versus the consensus of $7.83 billion.

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

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