Zimmer Biomet Nudges Up 2026 Outlook as Q3 Sales Rise 3.1% to $2.06 Billion

Published November 4, 2026 at 9:22 AM EST

Zimmer Biomet nudged up its 2026 sales growth and adjusted earnings outlook after third-quarter net sales rose 3.1% to $2.063 billion, according to its 8-K released Wednesday.

Sales grew 3.7% on a constant-currency basis. Diluted earnings fell 13.8% to $1.00 per share, while adjusted diluted EPS held flat with the prior year at $1.90. Net earnings were $191.6 million, or $362.8 million on an adjusted basis.

The orthopedic device maker generated $560.0 million of operating cash flow and $372.4 million of free cash flow in the quarter.

Two-thirds of the business grew faster

Chairman, President and CEO Ivan Tornos said the Hips, S.E.T. and Technology & Data, Bone Cement and Surgical franchises, which he said represent two-thirds of the company's business, grew at upper-single-digit or double-digit rates. He called the results validation of the company's diversification strategy.

U.S. sales rose 3.6% to $1.2056 billion, and international sales rose 2.4% to $857.2 million, or 3.9% in constant currency.

Updated 2026 guidance

Zimmer Biomet now expects:

Reported revenue growth of 4.4% to 4.9%, versus 3.9% to 4.9% before
Constant-currency revenue growth of 4.1% to 4.6%, up from 3.4% to 4.4%
Organic constant-currency growth of 3.0% to 3.5%, up from 2.25% to 3.25%
Adjusted diluted EPS of $8.50 to $8.60, versus $8.47 to $8.59 previously

The company also highlighted an extended multi-year limited exclusive distribution and supply agreement with THINK Surgical for robotics, and new foot and ankle product launches.

By the numbers

Q3 net sales: $2.063 billion, up 3.1%
Diluted EPS: $1.00, down 13.8%
Adjusted EPS: $1.90, flat
Free cash flow: $372.4 million
2026 adjusted EPS guidance: $8.50 to $8.60

Sources

Zimmer Biomet Form 8-K with third-quarter 2026 earnings release, filed Nov. 4, 2026 (accession 0001193125-26-446145)

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