Zimmer Misses Analysts' 2Q Profit Estimates
July 26 2019 - 6:46AM
Dow Jones News
By Michael Tobin
Zimmer Biomet Holdings (ZBH) reported Friday that second-quarter
profit fell, but the company raised its end of year adjusted
earnings guidance.
The medical device company had $133.7 million in second-quarter
net income, or 65 cents a share, compared with $185.0 million, or
90 cents a share, a year earlier. Analysts polled by FactSet
estimated earnings of $1.19 a share.
Zimmer had $1.93 in adjusted earnings, compared with $1.92
during last year's second quarter. Analysts estimated adjusted
earnings of $1.91.
Zimmer had $1.99 billion in revenue, compared with $2.01 billion
a year earlier. Analysts were expecting $1.98 billion.
The company raised the lower end of its end of year adjusted
diluted earnings per share to $7.75-$7.90, up from $7.70-$7.90.
Write to Michael Tobin at michael.tobin@wsj.com
(END) Dow Jones Newswires
July 26, 2019 06:31 ET (10:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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