Zimmer Biomet Files Q3 2024 10-Q
Ticker: ZBH · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 1136869
Sentiment: neutral
Topics: 10-Q, financials, medical-devices
Related Tickers: ZBH
TL;DR
**ZBH Q3 10-Q filed. Financials and ops details out.**
AI Summary
Zimmer Biomet Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The company, headquartered at 345 East Main Street, Warsaw, IN, reported on its financial performance and business operations. Key financial data and operational details for the third quarter and year-to-date are presented in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational updates for Zimmer Biomet, a major player in the orthopedic medical device industry.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing and does not inherently present new risks.
Key Players & Entities
- ZIMMER BIOMET HOLDINGS, INC. (company) — Filer
- 345 EAST MAIN STREET, WARSAW, IN 46580 (company) — Business Address
- 20240930 (date) — Period of Report
- 20241030 (date) — Filing Date
FAQ
What is Zimmer Biomet's primary industry?
Zimmer Biomet Holdings, Inc. operates in the Orthopedic, Prosthetic & Surgical Appliances & Supplies industry, with SIC code 3842.
Where is Zimmer Biomet headquartered?
The company's business and mail address is 345 East Main Street, Warsaw, IN 46580.
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is September 30, 2024.
When was this 10-Q filing submitted?
The filing was made on October 30, 2024.
What was Zimmer Biomet's former company name?
The company was formerly known as ZIMMER HOLDINGS INC, with a date of name change on March 15, 2001.
Filing Stats: 4,448 words · 18 min read · ~15 pages · Grade level 6.5 · Accepted 2024-10-30 16:05:30
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value ZBH New York Stock Exchan
Filing Documents
- zbh-20240930.htm (10-Q) — 3077KB
- zbh-ex21.htm (EX-21) — 176KB
- zbh-ex31_1.htm (EX-31.1) — 13KB
- zbh-ex31_2.htm (EX-31.2) — 13KB
- zbh-ex32.htm (EX-32) — 9KB
- 0000950170-24-118959.txt ( ) — 14482KB
- zbh-20240930.xsd (EX-101.SCH) — 1791KB
- zbh-20240930_htm.xml (XML) — 3389KB
- Financial Information
Part I - Financial Information Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 3 Condensed Consolidated Statements of Earnings for the Three and Nine Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 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 27 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.
Controls and Procedures
Controls and Procedures 35
- Other Information
Part II - Other Information Item 1.
Legal Proceedings
Legal Proceedings 37 Item 1A.
Risk Factors
Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39
– 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 Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net Sales $ 1,824.2 $ 1,753.6 $ 5,655.4 $ 5,454.1 Cost of products sold , excluding intangible asset amortization 538.6 518.6 1,604.5 1,545.0 Intangible asset amortization 148.2 145.0 434.3 416.6 Research and development 111.6 116.9 328.9 345.4 Selling, general and administrative 709.7 674.9 2,182.9 2,116.6 Restructuring and other cost reduction initiatives 32.2 24.3 198.1 90.6 Acquisition, integration, divestiture and related 4.4 7.3 9.9 16.4 Operating expenses 1,544.7 1,487.0 4,758.6 4,530.6 Operating Profit 279.5 266.6 896.7 923.5 Other income, net 5.1 3.8 7.0 10.3 Interest expense, net ( 54.3 ) ( 51.1 ) ( 156.1 ) ( 150.9 ) Earnings before income taxes 230.3 219.2 747.6 782.8 (Benefit) provision for income taxes ( 18.9 ) 56.4 82.5 177.4 Net Earnings 249.2 162.8 665.1 605.4 Less: Net earnings attributable to noncontrolling interest 0.2 0.2 0.8 0.6 Net Earnings of Zimmer Biomet Holdings, Inc. $ 249.1 $ 162.7 $ 664.3 $ 604.8 Earnings Per Common Share Basic $ 1.23 $ 0.78 $ 3.25 $ 2.89 Diluted $ 1.23 $ 0.77 $ 3.24 $ 2.88 Weighted Average Common Shares Outstanding Basic 202.3 208.9 204.4 209.0 Diluted 203.0 210.0 205.2 210.1 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 Nine Months Ended September 30, September 30, 2024 2023 2024