Zimmer Biomet Raises 2026 Sales and Earnings Outlook

The Tip Desk · November 4, 2026 · 2 min read

Third-quarter net sales were $2.063 billion, up 3.7% in constant currency, as the company lifted full-year organic growth and adjusted EPS ranges.

Zimmer Biomet Holdings, Inc. (ZBH) raised its full-year 2026 sales and adjusted earnings outlook after third-quarter net sales of $2.063 billion, up 3.1% on a reported basis and 3.7% in constant currency from a year earlier.

The orthopedic device maker said it now projects 2026 constant-currency revenue growth of 4.1% to 4.6%, up from a prior range of 3.4% to 4.4%, and organic constant-currency growth of 3.0% to 3.5%, from 2.25% to 3.25%. Reported revenue growth is now expected at 4.4% to 4.9%, from 3.9% to 4.9%. Adjusted diluted earnings guidance moved to $8.50 to $8.60 a share from $8.47 to $8.59. The company narrowed the expected foreign-currency impact on 2026 revenue to +0.25% from +0.5%.

Chairman, President and CEO Ivan Tornos said Hips, S.E.T. and Technology & Data, Bone Cement and Surgical franchises — two-thirds of the book of business — grew at upper-single-digit or double-digit rates, and that the company had confidence to raise full-year organic constant-currency sales growth and adjusted EPS guidance.

Reported sales growth slowed from 4.8% in the second quarter, when constant-currency growth was 4.7%. Diluted earnings were $1.00 a share, down 13.8% from a year earlier. Adjusted diluted earnings were $1.90 a share, matching the year-ago period. Net earnings were $191.6 million, or $362.8 million on an adjusted basis. Operating profit was $307.6 million, down from $351.3 million a year earlier.

Knees remained the largest product category at $767.5 million, down 3.1% reported and 2.6% in constant currency. U.S. knee sales were $431.3 million and international knee sales $336.3 million. Hips sales were $536.5 million, up 6.0% reported and 7.0% in constant currency. S.E.T. sales were $578.3 million, up 6.8% reported and 7.1% in constant currency. Technology & Data, Bone Cement and Surgical sales were $180.6 million, up 11.9% reported and 13.0% in constant currency.

United States sales were $1,205.6 million, up 3.6%. International sales were $857.2 million, up 2.4% reported and 3.9% in constant currency.

The company generated $560.0 million in operating cash flow and $372.4 million of free cash flow in the third quarter. It said it extended a multi-year limited exclusive distribution and supply agreement with THINK Surgical and promoted Gary Campbell, Brian Hatcher and Bradley Kessler to accelerate U.S. commercial transformation.