Zimmer Biomet earnings: guidance and results
MyStockButler's October 2026 analysis: Zimmer Biomet's next results are expected on November 4, 2026. Watch whether Zimmer Biomet turns sales coverage into more procedures and cash.
What has Zimmer Biomet guided for 2026?
Management forecasts modest growth in 2026 while changing the people and incentives responsible for delivering it. Its guidance calls for reported revenue growth of 3.9%–4.9% and adjusted diluted earnings per share of $8.47–$8.59. Adjusted earnings exclude specified costs, while diluted EPS allows for shares that could be created through employee awards.
The underlying sales picture is weaker than the headline. Constant-currency growth removes exchange-rate movements, while organic constant-currency growth also removes Paragon 28’s acquisition contribution. Currency adds 0.5 percentage points and Paragon adds 110 basis points, leaving an organic forecast of 2.3%–3.3%. In other words, revenue can rise even if Zimmer Biomet sells the same €100 of implants: a stronger euro would translate that sale into more dollars. Organic growth asks whether the established business is winning more procedures.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| 2026 Reported Revenue Change | Year to Dec 2026 | 3.9% | 4.9% | Aug 5, 2026 |
| Foreign Currency Exchange Impact | Year to Dec 2026 | 0.5% | 0.5% | Aug 5, 2026 |
| 2026 Constant Currency Revenue Change | Year to Dec 2026 | 3.4% | 4.4% | Aug 5, 2026 |
| 2026 Organic Constant Currency Revenue Change | Year to Dec 2026 | 2.3% | 3.3% | Aug 5, 2026 |
| Adjusted Diluted EPS | Year to Dec 2026 | 8.47 | 8.59 | Aug 5, 2026 |
| Paragon 28 acquisition impact (basis points) | Year to Dec 2026 | 110 | 110 | Aug 5, 2026 |
What this means. Organic constant-currency revenue change measures growth without counting currency movements or the Paragon 28 acquisition.
Did Zimmer Biomet keep its promises?
The company’s record earns a mixed 3/5. Revenue beat its original range in three of the five years reviewed, but missed in two, including 2024 after an enterprise-resource-planning disruption. Leadership changes now give robotics its own Americas leader, which could sharpen accountability but also tests customer continuity.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Reported Revenue Change | 5 years | 3 | 0 | 2 |
| Constant Currency Revenue Change | 5 years | 2 | 1 | 2 |
| Adjusted Diluted EPS | 5 years | 2 | 2 | 1 |
What is Zimmer Biomet's revenue and profit trend?
The June 2026 quarter showed better sales and cash, but not a broad improvement in underlying profitability.
Reported operating income and net income improved, and diluted EPS rose sharply. Adjusted EPS, however, was unchanged, while adjusted operating margin declined. Lower acquisition expenses made the reported comparison easier, while manufacturing costs and investment in the sales channel weighed on the adjusted result. The smaller share count also helped each share’s result.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,177.0 | 2,086.7 | 2,243.8 | 2,001.4 | 2,077.3 | 1,909.1 | 2,023.2 | 1,824.2 |
| Gross margin | 63.3% | 64.6% | 56.8% | 63.2% | 63.8% | 63.3% | 63.2% | 62.4% |
| Operating income | 326.1 | 373.2 | 154.5 | 351.3 | 300.0 | 292.3 | 389.0 | 279.5 |
| Net income | 198.3 | 238.1 | 139.3 | 230.9 | 152.8 | 182.0 | 239.4 | 249.1 |
| EPS, diluted | 1.03 | 1.22 | 0.70 | 1.16 | 0.77 | 0.91 | 1.20 | 1.23 |
What this means. Some of the sales growth comes from buying Paragon 28 and Monogram, not just from selling more of its existing products.