Zimmer Biomet has achieved revenue of $8.23bn in full year 2025 off the back of continued strong demand across its core business lines, though shares fell following 2026 guidance that fell short of expectations.
With 2025 revenue corresponding to a 7.2% uplift on 2024, the orthopaedics giant outlined that it expects 2026 earnings to fall in the $8.30 to $8.45 per share range and to achieve revenue growth between 2.5% to 4.5%.
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According to London Stock Exchange Group (LSEG) data seen by Reuters, analysts had expected EPS average of $8.48 for 2026.
Following the release of its financials ahead of market open, Zimmer’s shares on the New York Stock Exchange (NYSE) fell by almost 5% to $94.15 at market open on 10 February versus a prior close of $89.73. Zimmer has a market cap of $18.23bn.
Responding to an analyst’s query during a conference call about the “tempered” earnings range for 2026, Zimmer CEO Ivan Tornos said the outlook related to an ongoing focus on several aspects of its business operations.
In particular, Tornos said the outlook accounted for the company’s planned investment into a stronger, specialised sales force in the US, as outlined at the recent J.P. Morgan HealthCare conference. Tornos also shared that the degree of success of both international market growth and new product adoption cycles were factors in the company’s 2026 forecast.
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By GlobalDataRegarding product adoption, Tornos pointed to products that Zimmer refers to internally as the ‘magnificent seven’, which include the ROSA Shoulder System that received US Food and Drug Administration (FDA) approval in February 2024, and the Oxford Partial Cementless Knee that gained approval from the agency in November 2024, amongst others.
Tornos has previously stated that the magnificent seven range of products have helped Zimmer to close “all core portfolio gaps”.
Zimmer’s Knees business segment generated the most revenue, growing 4.7% to reach $3.32bn in sales for 2025. However, it was the company’s Sports Medicine, Extremities, Trauma, Craniomaxillofacial and Thoracic (SET) that saw the highest year-over-year sales increase, with revenue up 15.2% to $2.15bn. For Q4 2025, Zimmer reported total revenue of $2.24bn, corresponding to a 10.9% uptick on the same period in 2024 and besting analysts’ expectations of $2.23bn, according to LSEG data seen by Reuters.
In a statement on Zimmer’s results, Tornos said: “As we enter 2026, we are excited about our transition to a predominantly direct and specialised sales organisation in the US. While this bold action tempers our 2026 sales guidance, we are confident that it will drive durable long-term growth and solidify our position as the undisputed market leader.”
