Zimmer Biomet's second quarter sales reached $1.9 billion, according to financial results posted Aug. 7.
Six notes:
1. Net sales of $1.9 billion represent a 3.9% increase year-over-year, according to a news release.
2. Highlights of the quarter include plans to acquire OrthoGrid Systems, forming a partnership with CBRE Group for ASC growth and a partnership with RevelAiHealth.
3. Net earnings in the second quarter were $242.8 million, compared to $209.6 million in the same period last year.
4. Knee sales were $801.1 million, a 3.9% year-over-year increase, and hip sales grew 0.4% with $506.5 million in sales.
5. Sports medicine, extremities, trauma, craniomaxillofacial and thoracic sales were $469.5 million, a 6.1% increase year-over-year.
6. Zimmer Biomet lowered its full-year guidance and now expects 2024 revenue to grow 4% to 5%. Previously that growth was projected at 4.5% to 5.5%.