Zimmer Biomet on Feb. 3 posted fourth quarter revenue increases and a $130.5 million net loss.
Six things to know:
1. Fourth quarter net sales were $1.8 billion, a 2.7 percent increase year-over-year. Full year sales for 2022 were $6.9 billion, a 1.6 percent increase from 2021.
2. While the company posted a net loss in the fourth quarter, net earnings for all of 2022 were $290.2 million.
3. Fourth quarter knee sales were $753.6 million, a 4.7 percent increase year-over-year. Hip sales of $488.7 million were a 1.7 percent increase from the same time last year.
4. Sports medicine, extremities, trauma, craniomaxillofacial and thoracic busineses grew 3.3 percent year-over-year with $424.2 million in the fourth quarter.
5. Knee sales in 2022 raked in $2.8 billion, a 4.9 percent increase from 2021. Hip sales were $1.9 billion, a 2.1 percent increase.
6. Zimmer Biomet expects 2023 revenue to grow 1.5 percent to 3.5 percent.