Zimmer Biomet has reported Q3 revenues of over $2bn, corresponding to a 3.1% rise year-over-year (YoY), prompting the company to raise its 2026 outlook.
The orthopaedics giant now expects 2026 earnings to land in the $8.50-$8.60 per share range, up from $8.47-$8.59 as outlined previously. Meanwhile, Zimmer now anticipates 2026 revenue growth to come in the 4.4% to 4.9% range, up from a prior view of 3.9% at the low end. The company had already raised its outlook last quarter on the back of 4.8% YoY growth in Q2.
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Zimmer released its financials ahead of market open. The company’s shares, listed on the New York Stock Exchange (NYSE), rose by 9.1% to $105.90 at market open on 4 November. Zimmer has a market cap of $20.62bn.
Knees drew in the largest revenues at $767.5m, followed by hips at $536.5m, with these primary segments of Zimmer’s operations generating the most revenue in the US. Meanwhile, S.E.T. achieved revenue of $578.3m, with Zimmer’s technology & data, bone cement and surgical segment coming in at $180.6m.
Regarding growth, technology & data, bone cement and surgical occupied pole position with YoY growth at 11.9%, followed by S.E.T. and hips at 6.8% and 6%, respectively. Knees, meanwhile, decreased by 3.1% YoY.
Zimmer’s CEO, Ivan Tornos, said the results “validated” the progress of its diversification strategy, strength in innovation, and the “significant strides” being made in its commercial execution.
Announced during its Investor Day in 2024, Zimmer’s growth strategy aims to reduce its reliance on knees and hips and expand into growing medtech and musculoskeletal segments over time. Recent initiatives positioned to meet this ambition include Zimmer’s $1.2bn acquisition of Paragon 28 in January 2025 to expand its S.E.T. portfolio. In addition, Zimmer expanded its existing agreement with THINK Surgical in October 2026 to distribute an exclusive version of its wireless, handheld TMINI Miniature Robotic System over a multi-year period to support growth in its technology & data, bone cement and surgical segment.
Tornos continued: “This broad-based performance gives us confidence to raise our full-year organic constant-currency sales growth and adjusted EPS guidance… I believe we will continue to build on this momentum as we advance our mission and ultimately position the company for sustained long-term growth.”
