The strong EPS beat and raised guidance confirm improving margins and operational leverage. However, unchanged revenue guidance and modest organic growth (2.9% organic constant currency) suggest limited top-line acceleration. Watch for margin expansion and share repurchase execution to drive further EPS upside.
Price Chart
Executive Summary
Zimmer Biomet reported Q1 2026 adjusted EPS of $2.09, beating consensus of $1.86 by 12.4%, on revenue of $2.087B (+9.3% YoY reported). The company raised its full-year adjusted EPS guidance to $8.40-$8.55 from $8.30-$8.45, while maintaining revenue growth guidance of 2.5%-4.5% reported. The results reflect solid operational execution and ongoing share repurchases.
Key Financial Metrics
Key Facts
- Q1 2026 revenue of $2.087B, up 9.3% reported vs Q1 2025
- Adjusted diluted EPS of $2.09, up 15.5% YoY and 12.4% above consensus $1.86
- GAAP diluted EPS of $1.22, up 34.1% YoY
- Full-year 2026 adjusted EPS guidance raised to $8.40-$8.55 (prior $8.30-$8.45)
- Revenue guidance unchanged: reported change 2.5%-4.5%, organic constant currency 1.0%-3.0%
- Operating cash flow of $359M, free cash flow of $246M in Q1
- Repurchased $250M of shares during Q1 2026
Financial Impact
Adjusted EPS beat consensus by $0.23 (12.4%), and full-year EPS guidance midpoint increased by $0.10
Risk Factors
- Revenue guidance unchanged, indicating cautious top-line outlook
- Goodwill impairment assessment still pending (not booked in Q1)
- Go-to-market transformation may create near-term disruption
- Tariff headwinds and integration of Paragon 28 remain risks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-183411 |
| Document: zbh-20260428.htm | 0001193125-26-183411 |
| Document: 0001193125-26-183411-index-headers.html | 0001193125-26-183411 |
| Document: 0001193125-26-183411-index.html | 0001193125-26-183411 |
| Document: 0001193125-26-183411.txt | 0001193125-26-183411 |
| 8-K Data (Synthetic) | 0001193125-26-183411 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $98.41 $93.98 | ▼ −4.50% | ▼ −6.63% | $87.94 (−10.64%) |
Sep 2, 2026 4w ago | Court Ruling | $99.50 $92.44 | ▼ −7.10% | ▼ −6.14% | $87.94 (−11.62%) |
Aug 17, 2026 6w ago | Court Ruling | $98.20 $100.98 | ▲ +2.83% | ▲ +4.02% | $87.94 (−10.45%) |
Aug 5, 2026 8w ago | 8-K | $98.16 $97.89 | ▼ −0.28% | ▼ −0.63% | $87.94 (−10.41%) |
May 12, 2026 20w ago | 8-K | $83.34 $85.14 | ▲ +2.16% | ▲ +2.09% | $87.94 (+5.52%) |
May 1, 2026 22w ago | Court Ruling | $82.86 $83.37 | ▲ +0.62% | ▼ −1.73% | $87.94 (+6.14%) |
Apr 28, 2026 22w ago | 8-K | $82.45 $82.63 | ▲ +0.22% | ▼ −1.47% | $87.94 (+6.66%) |
Apr 28, 2026 22w ago | 8-K | $82.45 $82.63 | ▲ +0.22% | ▼ −1.47% | $87.94 (+6.66%) |
Apr 1, 2026 26w ago | DEFA14A | $91.00 $93.03 | ▲ +2.24% | ▼ −1.53% | $87.94 (−3.36%) |
US Market Status
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