ZBH Gears Up for Q3 Earnings: What Lies Ahead for the Stock?

Zimmer Biomet Holdings, Inc. (NYSE: ZBH) is scheduled to report third-quarter 2024 results on Oct. 30, before market open.

In the last reported quarter, the company's earnings of $2.01 beat the Zacks Consensus Estimate by 1.5%. ZBH beat on earnings in each of the trailing four quarters, the average surprise being 2.84%.

ZBH's Q3 Estimates

The Zacks Consensus Estimate for revenues is pegged at $1.81 billion, suggesting a 3.3% rise from the year-ago reported figure.

The Zacks Consensus Estimate for earnings is pinned at $1.75 per share, indicating a 6.1% improvement from the year-ago reported numbers.

Estimate Revision Trend Ahead of ZBH's Q3 Earnings

The Zacks Consensus Estimate for earnings has moved south 1.1%  to $1.75 per share in the past 30 days.

Let's briefly look at how things might have shaped up for this MedTech major in the to-be-reported quarter.

Factors at Play

Zimmer Biomet is likely to have experienced strong growth in the third quarter on the back of strong performance from its business segments.

The Hip business is expected to have witnessed growth due to the company's comprehensive suite of solutions in navigation in direct anterior stems and surgical impactors.

While this business lagged the broader market during the second quarter due to key portfolio gaps, the company has made significant progress with new product introductions. During the same quarter, Zimmer Biomet launched the surgical impactor HAMMR, whose adoption has been great so far. Additionally, during the third-quarter, the company entered into a ...