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Zimmer Biomet Is Going Global—Can Overseas Markets Reduce Its Reliance on the U.S.?

Zimmer Biomet’s latest earnings report underscores a complex landscape characterized by both opportunities and challenges. The company’s fourth-quarter 2025 performance was notable, marked by an organic constant currency sales growth of 5.4% and adjusted earnings per share of $2.42, reflecting a 4.8% year-over-year increase. This performance was achieved despite confronting tariff headwinds, integration complexities from three acquisitions, and increased investments in their commercial organization. However, when it comes to the overall fiscal year, the company reported a 3.9% growth in organic constant currency sales and generated $8.20 in adjusted earnings per share, along with a robust free cash flow of $1.172 billion. A key highlight from the earnings call was the significant product momentum, particularly in the knee and hip franchises, where new launches like Persona OsseoTi and Oxford Partial Cementless Knee drove growth.