Aug 7 (Reuters) - Zimmer Biomet Holdings ( ZBH ) raised
its full-year adjusted profit forecast and beat second-quarter
earnings expectations on Thursday, bolstered by accelerating
demand for its hip and knee implants.
Medical device makers have benefited from a surge in demand
as more people, particularly older Americans, sought health care
services and surgical procedures. The demographic shift toward
an aging population continues to fuel robust procedure volumes
across orthopedic specialties.
Zimmer expects 2025 adjusted profit per share in the range
of $8.10 to $8.30, up from its prior view of $7.90 to $8.10 per
share. Analysts were expecting $7.97 per share, according to
data compiled by LSEG.
"Our robust new product cycle drove significant acceleration
in our U.S. hips and knees portfolios and continued strong
growth in our global S.E.T. (sports medicine, extremities, and
trauma) business," CEO Ivan Tornos said.
The company attributed its performance to early customer
adoption of its new product portfolio, including advancements in
surgical robotics.
Combined sales at Zimmer's hips and knees units came in at
$1.36 billion during the quarter ended June 30, compared with
$1.31 billion a year ago.
Sales at its unit that sells sports medicine and trauma care
products climbed 17.3% to $550.6 million, while analysts
estimated $534 million.
It posted an adjusted profit of $2.07 per share, topping
estimates of $1.98 per share. Its second-quarter revenue came in
at $2.08 billion, also above expectations of $2.05 billion.
Zimmer said it expects 2025 revenue growth of 6.7% to 7.7%,
from its prior 5.7% to 8.2% forecast.