Zimmer Biomet Files Q2 2024 10-Q
Ticker: ZBH · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 1136869
Sentiment: neutral
Topics: 10-Q, financials, orthopedics
TL;DR
Zimmer Biomet's Q2 10-Q is in: check their latest financials.
AI Summary
Zimmer Biomet Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including its assets and liabilities. The company, headquartered at 345 East Main Street, Warsaw, IN, operates in the orthopedic, prosthetic & surgical appliances & supplies industry.
Why It Matters
This filing provides investors and analysts with a detailed look at Zimmer Biomet's financial health and operational performance for the second quarter of 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- N/A — Revenue (Specific revenue figures are not detailed in the provided header information.)
- N/A — Net Income (Specific net income figures are not detailed in the provided header information.)
- N/A — Assets (While 'AssetsCurrent' and 'OtherAssetsNoncurrent' are mentioned, specific dollar amounts are not provided in the header.)
Key Players & Entities
- ZIMMER BIOMET HOLDINGS, INC. (company) — Filer
- 345 EAST MAIN STREET, WARSAW, IN 46580 (company) — Business and Mail Address
- 20240630 (date) — Period of Report
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the second quarter of 2024.
What is Zimmer Biomet Holdings, Inc.'s primary industry?
Zimmer Biomet Holdings, Inc. is in the ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES industry, with SIC code 3842.
Where is Zimmer Biomet Holdings, Inc. headquartered?
The company's business and mail address is 345 East Main Street, Warsaw, IN 46580.
When was the company formerly known as Zimmer Holdings Inc.?
The date of the name change from Zimmer Holdings Inc. to Zimmer Biomet Holdings, Inc. was 20010315.
What is the SEC file number for Zimmer Biomet Holdings, Inc.?
The SEC File Number is 001-16407.
Filing Stats: 4,460 words · 18 min read · ~15 pages · Grade level 6.3 · Accepted 2024-08-07 16:05:38
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value ZBH New York Stock Exchan
- $16 — et $ 2,103.0 $ 2,060.4 We had $16 .3 million and $ 30.8 million of proper
Filing Documents
- zbh-20240630.htm (10-Q) — 3050KB
- zbh-ex21.htm (EX-21) — 174KB
- zbh-ex31_1.htm (EX-31.1) — 13KB
- zbh-ex31_2.htm (EX-31.2) — 13KB
- zbh-ex32.htm (EX-32) — 8KB
- 0000950170-24-092746.txt ( ) — 14300KB
- zbh-20240630.xsd (EX-101.SCH) — 1762KB
- zbh-20240630_htm.xml (XML) — 3357KB
- Financial Information
Part I - Financial Information Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 3 Condensed Consolidated Statements of Earnings for the Three and Six Months Ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three and Six Months Ended June 30, 2024 and 2023 7 Notes to Interim Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.
Controls and Procedures
Controls and Procedures 34
- Other Information
Part II - Other Information Item 1.
Legal Proceedings
Legal Proceedings 36 Item 1A.
Risk Factors
Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37
– Financ ial Information
Part I – Financ ial Information
Financ ial Statements
Item 1. Financ ial Statements ZIMMER BIOMET HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (in millions, except per share amounts, unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net Sales $ 1,942.0 $ 1,869.6 $ 3,831.2 $ 3,700.6 Cost of products sold , excluding intangible asset amortization 553.6 525.5 1,065.9 1,026.3 Intangible asset amortization 144.0 138.2 286.1 271.6 Research and development 109.4 118.1 217.4 228.5 Selling, general and administrative 737.1 725.8 1,473.2 1,441.8 Restructuring and other cost reduction initiatives 41.5 24.4 165.9 66.3 Acquisition, integration, divestiture and related 5.2 7.9 5.5 9.1 Operating expenses 1,590.8 1,539.9 3,214.0 3,043.6 Operating Profit 351.3 329.6 617.2 656.9 Other income (expense), net 2.0 ( 1.2 ) 1.9 6.5 Interest expense, net ( 51.1 ) ( 51.6 ) ( 101.8 ) ( 99.8 ) Earnings before income taxes 302.2 276.8 517.3 563.6 Provision for income taxes 59.1 66.9 101.4 121.0 Net Earnings 243.1 209.9 415.9 442.6 Less: Net earnings attributable to noncontrolling interest 0.3 0.2 0.7 0.5 Net Earnings of Zimmer Biomet Holdings, Inc. $ 242.8 $ 209.6 $ 415.2 $ 442.1 Earnings Per Common Share Basic $ 1.18 $ 1.00 $ 2.02 $ 2.12 Diluted $ 1.18 $ 1.00 $ 2.01 $ 2.10 Weighted Average Common Shares Outstanding Basic 205.7 208.6 205.4 209.0 Diluted 206.4 209.9 206.3 210.1 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 ZIMMER BIOMET HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEM ENTS OF COMPREHENSIVE INCOME (in millions, unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net Earnings of