NASDAQ$ZIMV
ZimVie Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
ZimVie's financial performance for Q1 2023 was reported, with a decrease in net sales and a net loss, but progress in product portfolio evolution and cost reduction initiatives was highlighted.
ZimVie reported a decrease in third-party net sales by 4.1% to $225.1 million for Q1 2023. The company experienced a net loss of $30.0 million, or ($1.14) per diluted share. Adjusted diluted EPS was $0.25. The company is implementing restructuring activities to reduce costs and streamline operations.
- Third party net sales reached $225.1 million, a 4.1% decrease year-over-year.
- Net loss was ($30.0) million, with a net loss margin of (13.3%).
- Diluted EPS was ($1.14), while adjusted diluted EPS was $0.25.
- Adjusted EBITDA was $32.1 million, with an adjusted EBITDA margin of 14.3%.
Headline financials
Revenue & EPS history
ZimVie · Revenue · Quarterly
$225M
Forward guidance
ZimVie is updating its 2023 net sales and adjusted EPS guidance while reaffirming its adjusted EBITDA margin guidance.
Tailwinds
- Net sales are projected to be between $835 million and $860 million.
- Adjusted EBITDA margin is expected to be between 13.5% and 14.0%.
- Adjusted EPS is projected to be between $0.40 and $0.60.
- Initiatives to improve operating margins and cash flow are underway.
- Financial flexibility to continue to prioritize investments in product offerings and technologies.
Headwinds
- Forward-looking non-GAAP financial measures may be materially different from corresponding GAAP measures.
- Timing of certain transactions is difficult to predict due to potential changes in management plans.
- Revenue was down 4.1% compared to the same period last year.
- Net loss increased compared to the same period last year.
- Global restructuring program with a 5% reduction in global workforce.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports
-1.7%
Avg return
Earnings day
-3.4%
Avg return
5 days after
-5.3%
Avg return
30 days after
44%
8 / 18 earnings
Positive
+24.0%
Q1 2023
Best reaction
-49.0%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | — | — | — | |
| Q2 2025 | -0.4% | -0.1% | +0.1% | |
| Q1 2025 | -4.4% | -4.8% | +2.2% | |
| Q4 2024 | -1.7% | +3.1% | -11.9% | |
| Q3 2024 | +0.6% | +5.5% | +6.2% | |
| Q2 2024 | -18.2% | -19.0% | -17.9% | |
| Q1 2024 | +5.7% | +4.8% | +0.8% | |
| Q4 2023 | -14.4% | -13.4% | -16.9% | |
| Q3 2023 | +5.4% | — | — | |
| Q2 2023 | -6.0% | — | — | |
| Q1 2023 | +24.0% | — | — | |
| Q4 2022 | -49.0% | — | — | |
| Q3 2021 | +20.0% | — | — | |
| Q3 2022 | +20.0% | — | — | |
| Q2 2021 | -8.2% | — | — | |
| Q2 2022 | -8.2% | — | — | |
| Q1 2021 | -6.5% | — | — | |
| Q4 2021 | +5.1% | — | — | |
| Q4 2020 | +5.1% | — | — |
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