Zimmer Biomet’s Q2 Sales Soar 65 Percent

Zimmer Biomet Holdings Inc. is making up for lost time. The company is reporting second-quarter net sales (period ended June 30) of $2.027 billion, a 65.3 percent increase compared with the prior year period, and a 60.7 percent increase on a constant currency basis. Second quarter 2021 net sales increased 1.9 percent when compared to the pre-pandemic second quarter 2019, and were flat on a constant currency basis. Net earnings for the second quarter of 2021 were $141.9 million, or $400.5 million on an adjusted basis.
 
Diluted earnings per share were $0.67 for the second quarter.  Adjusted diluted earnings per share were $1.90 for the second quarter. 
 
“Our performance in the second quarter improved meaningfully from the first quarter 2021 across all regions and product categories as recovery from the global pandemic continued to take hold. While we anticipate some ongoing COVID-19 pressure, we expect continued improvement in procedure volume recovery through the second half of 2021,” said Bryan Hanson, chairman, president and CEO of Zimmer Biomet. “Against this backdrop, Zimmer Biomet has continued to execute, investing in our business, expanding our portfolio and developing and launching innovative products designed to improve mobility and health. This execution enables ZB to build and deliver value for our customers and shareholders and to move our mission forward for the patients we ultimately serve.”

Knees revenue skyrocketed 77.5 percent to $665.6 million, with EMEA (Europe, Middle East, Africa) sales accelerating 127.2 percent and Americas proceeds jumping 81.4 percent. Hips revenue rose 44 percent, with EMEA and Americas sales comprising much of the increase. S.E.T. (Sports Medicine, Extremities, Trauma, Craniomaxillofacial and Thoracic) sales ballooned 58 percent to $462.1 million, and Dental & Spine proceeds swelled 73 percent to $263.5 million.  

For the first half of 2021, Zimmer Biomet’s sales rose 28.7 percent to $3.87 billion. Knees revenue rose 27.5 percent to $1.27 billion, Hips proceeds rose 12 percent to $921.6 million, S.E.T. sales climbed 30.6 percent to $879.7 million, and Dental & Spine increased 37.1 percent to $509.5 million.  
 
Aligned with the ongoing transformation of Zimmer Biomet’s business, key recent highlights include:
Publication of the Zimmer Biomet Sustainability Report, aligned with Sustainability Accounting Standards Board (SASB) standards.

Receipt of key awards for Zimmer Biomet’s portfolio including the ROSA Knee system for Best Technology Solution in Orthopedics by the Medtech Breakthrough Awards and Orthopaedic Product Innovation of the Year by the Healthcare Asia Medtech Awards. The TetherTM Vertebral Body Tethering System, a first-in-class treatment for children with scoliosis, was also Silver Winner in the 2021 Edison Best New Product Awards in the Advanced Surgical Instruments category.

Key additions to the Zimmer Biomet leadership team, including the appointment of Wilfred van Zuilen as president of Europe, Middle East and Africa (EMEA) and Nitin Goyal, M.D. to the newly created role of chief Science, Technology and Innovation officer.