Charles Sternberg, Assistant Editor05.05.21
Zimmer Biomet Holdings Inc. has reported financial results for the quarter ended March 31, 2021. The company’s first quarter net sales were $1.847 billion, an increase of 3.6% over the prior year period. Net earnings for the first quarter were $198.1 million.
The Knees category was down 2.3%, Hips was up 3.3%, Sports Medicine, Extremities, Trauma, Craniomaxillofacial and Thoracic was up 9.6%, and Dental & Spine increased 12.1%.
"Our performance was stronger than we anticipated in the first quarter, as we saw signs of the pandemic beginning to subside across many regions toward the end of the quarter driven by acceleration of vaccine rollout. As we move into the second quarter, we expect that momentum to continue and believe we are well-positioned to meet the needs of our customers as elective procedures return," said Bryan Hanson, president and CEO of Zimmer Biomet. "Despite the challenges of COVID-19, the transformation of our business has continued over the past year. We are proud of the milestones Zimmer Biomet has already accomplished in 2021 and we have confidence that we can drive significant value for our key stakeholders as we move our Mission forward."
Moving forward, the company expects 14% to 17% revenue growth on a reported basis for the full year 2021.
The Knees category was down 2.3%, Hips was up 3.3%, Sports Medicine, Extremities, Trauma, Craniomaxillofacial and Thoracic was up 9.6%, and Dental & Spine increased 12.1%.
"Our performance was stronger than we anticipated in the first quarter, as we saw signs of the pandemic beginning to subside across many regions toward the end of the quarter driven by acceleration of vaccine rollout. As we move into the second quarter, we expect that momentum to continue and believe we are well-positioned to meet the needs of our customers as elective procedures return," said Bryan Hanson, president and CEO of Zimmer Biomet. "Despite the challenges of COVID-19, the transformation of our business has continued over the past year. We are proud of the milestones Zimmer Biomet has already accomplished in 2021 and we have confidence that we can drive significant value for our key stakeholders as we move our Mission forward."
Moving forward, the company expects 14% to 17% revenue growth on a reported basis for the full year 2021.