Zimmer Biomet on Nov. 9 posted third-quarter revenue of $213.3 million.
Four things to know:
1. Net sales fell 10.6 percent year-over-year, according to a company news release. The sales decrease includes a $1 million loss due to a one-day closing of the company's Palm Beach Gardens, Fla. dental facility during Hurricane Ian.
2. Third party spine sales of $108.2 million represents a 16.4 percent year-over-year decrease. That was driven by the exit of some "unprofitable" markets in late 2021 and the discontinuation of some products.
3. Net income was $800,000, compared to a net loss of $30.2 million in the third quarter of 2021.
4. ZimVie reaffirmed its 2022 financial guidance of $915 to $930 million and expects the dental segment to see mid-single digit growth.