Zimmer Biomet Holdings, Inc. (ZBH) SEC Filings & Earnings Calls

Departure of Group President; restructuring may cause short-term disruption

“Kevin Thornal departing September 30, 2026”

Goodwill Impairment Risk

“our Global Foot and Ankle reporting unit's estimated fair value only exceeded its carrying value by approximately 5 percent.” · word for word

Integration Risk from Acquisitions

“The Monogram robotic technologies are currently not commercialized and therefore have been recognized as an IPR&D intangible asset.” · word for word

Debt Refinancing Risk

“Current portion of long-term debt increased to $1,201.5 million from $587.1 million at year-end 2025.”

Knees segment growth flat (+0.4%), indicating potential market saturation or competitive pressure.

“Knees 828.9 +0.4%”

Adjusted EPS flat YoY despite revenue growth suggests cost pressures or mix headwinds.

“adjusted diluted earnings per share were $2.07, consistent with the prior year period”

Goodwill impairment risk for Global Foot and Ankle reporting unit

“Global Foot and Ankle reporting unit's estimated fair value only exceeded its carrying value by approximately 5 percent.” · word for word

Integration risk from recent acquisitions (Paragon 28, Monogram)

“We completed the acquisition of Paragon 28 in April 2025 and Monogram in October 2025; purchase price allocations are still preliminary.”

Restructuring execution risk

“2025 Restructuring Plan expected to result in total pre-tax charges of approximately $155 million by end of 2027.”

Foreign exchange headwind remains, though guidance includes +0.5% FX impact.

“Foreign Currency Exchange Impact +0.5%” · word for word

Organic constant currency growth of only 2.9% suggests underlying demand may be modest despite reported growth boosted by acquisitions and FX.

“Organic constant currency % Change 2.9%”

Paragon 28 acquisition integration risk; acquisition contributed ~100bps to growth.

“Excludes the projected impact of the Paragon 28 acquisition through the one-year anniversary of the acquisition date, which is estimated to be approximately 100bps.” · word for word

Key executive departure may disrupt financial operations and strategy execution.

“CFO resignation effective April 28, 2026; search for permanent CFO underway.”

Product liability litigation

“As of October 2025, individual lawsuits are still being filed against Zimmer Biomet for injuries related to its Biomet M2a Magnum and Zimmer Biomet CPT Hip System implants.” · word for word

Operational/IT disruption

“In September 2025, Zimmer Biomet sued its IT provider, Deloitte, for $172 million, alleging fraud and breach of contract.” · word for word

Tariff headwinds

“In early May 2025, Zimmer Biomet lowered its full-year adjusted profit forecast, citing headwinds from tariffs and the Paragon 28 acquisition.” · word for word

Tariff and Trade Policy Risk

“U.S. tariffs ... had a negative effect of 0.4 percent on gross margin in 2025.”

Integration Risk from Acquisitions

“Paragon 28 had a positive impact on our net sales growth of 2.5 percent in 2025. ... costs related to the acquisition of Paragon 28 and the acquisition of Monogram” · word for word

Product Discontinuation Execution Risk

“inventory and instrument charges of approximately $170 million related to certain product lines we intend to discontinue” · word for word

Tariff headwinds and transition to direct sales organization in U.S. may temper 2026 sales guidance

“navigating tariff headwinds; While this bold action tempers our 2026 sales guidance”

Loss of a named executive officer may signal management instability or retention challenges.

“Mark Bezjak, a named executive officer in the 2025 proxy statement, resigns effective Jan 16, 2026.” · word for word

Integration risk from Paragon 28 acquisition

“The purchase price allocation for the Paragon 28 acquisition is preliminary as of September 30, 2025.” · word for word

Restructuring execution risk

“The 2025 Restructuring Plan is expected to result in total pre-tax restructuring charges of approximately $ 85 million by the end of 2027.” · word for word

Weakness in Latin America, Emerging Markets in Europe, and non-core businesses emerged late in the quarter.

“Our strong performance in the U.S. was partially offset by weakness in Latin America, Emerging Markets in Europe and non-core businesses, which emerged late in the quarter and are being addressed.” · word for word