Zimmer Biomet Swings to Profit

Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) is reporting first quarter net income of $198 million, compared to a net loss of $509 million during the same period last year. President Bryan Hanson says the company’s performance was stronger than expected.

The company also reported first quarter net sales of $1.8 billion, an increase of 3.6% over the same period last year.

“Our performance was stronger than we anticipated in the first quarter, as we saw signs of the pandemic beginning to subside across many regions toward the end of the quarter driven by acceleration of vaccine rollout. As we move into the second quarter, we expect that momentum to continue and believe we are well-positioned to meet the needs of our customers as elective procedures return,” said Hanson. “Despite the challenges of COVID-19, the transformation of our business has continued over the past year. We are proud of the milestones Zimmer Biomet has already accomplished in 2021 and we have confidence that we can drive significant value for our key stakeholders as we move our Mission forward.”

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