EarningsQ2 2026 Earnings Report
MX:ZBH Q2 2026 EPS Results
Actual EPS$37.60
Consensus EPS$36.51
Beat/MissBeat by +$1.09
One Year Ago EPS$37.60
MX:ZBH Q2 2026 Revenue Results
Actual Revenue$39.54B
Expected Revenue$38.77B
Beat/MissBeat by +$765.62M
YoY Revenue Growth+4.80%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
MX:ZBH Upcoming Earnings
Zimmer Biomet Holdings's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ZBH Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed multiple strong operational and financial positives — revenue beat, raised guidance, robust cash generation, rapid technology and hip product adoption, successful Paragon integration and a sizable buyback — while acknowledging near-term headwinds including margin pressure from investment and manufacturing costs, pricing erosion risk, weakness in knees and China, and some supply constraints. Management framed 2026 as a transitional year with confidence that investments and go-to-market changes will improve execution and performance into 2027.Company Guidance
Revenue Beat and Organic Growth
Second quarter net sales of $2.177 billion, +4.8% reported and +4.0% organic constant currency growth; U.S. organic growth +4.6% and international +3.1%.
Updated Full-Year Guidance
Raised 2026 organic constant currency revenue guidance to 2.25%–3.25% (from 1%–3%) and increased adjusted EPS guidance to $8.47–$8.59 (from $8.40–$8.55); reported sales growth guidance raised to 3.9%–4.9%.
Strong Cash Generation and Capital Return
Operating cash flow of $448 million (+18% YoY) and free cash flow of $308 million (+24% YoY); ended quarter with ~$410 million cash and announced up to $1.0 billion share repurchase program (including $500 million repurchased in H1).
Hips Momentum and Adoption
Hips grew +5.1% constant currency (U.S. +5.9%, international +4.2%); Z1 hip stem now >40% of U.S. hip stems and approaching 100,000 implants worldwide; HAMMR used in >25% of U.S. primary hip cases; OrthoGrid had its strongest quarter and H1 2026 matched full-year 2025 cases.
Technology & Robotics Outperformance
Technology, Bone Cement and Surgical category grew +21.5%; U.S. technology sales grew >50% (Technology was primary driver of 'Other' growth); record capital sales driven by ROSA with OptimiZe and TMINI and early contribution from next-generation ROSA Shoulder.
S.E.T. and Acquisitions Driving High Growth Segments
S.E.T. grew +3.4% organic (180 bps acceleration vs Q1); Paragon 28 sales increased mid-teens and integrated successfully with negligible key-team turnover; CMFT grew double-digits led by thoracic; upper extremities grew upper single-digits.
Product Innovation and Pipeline
Iodine-coated hip launch in Japan exceeding expectations within a ~$0.5B Japanese hip market (pricing premium reported at ~40% vs non-coated); Monogram 510(k) filing anticipated soon; plan to introduce 50 new products over 36 months and continued VC partnership via Mobility Revolution Fund.
Operational Initiatives and Talent Recognition
Shifting R&D to global capability center in India, opening new manufacturing plant in Costa Rica, implementing AI initiatives to improve cost structure; received external recognition (TIME, Forbes, Fortune, Great Places to Work) and reported improved engagement/low turnover.
MX:ZBH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed