Zimmer Biomet Holdings Inc (ZBH)

[DewDiligence]

ZBH—(-4%)—declines to reinstate 2020 guidance (which was withdrawn on 4/6/20):

https://investor.zimmerbiomet.com/~/media/Files/Z/ZimmerBiomet-IR/press-release/q1-2020-earnings-release.pdf

First quarter performance was negatively impacted by COVID-19, which reached a pandemic level in March and resulted in a significant and sudden global decline in elective procedure volumes.

…Zimmer Biomet expects the decline in elective procedure volumes observed in the final weeks of the first quarter to continue to have a significant negative impact in the second quarter of 2020. Given the uncertainty around the scope and duration of COVID-19 and its ongoing impact on the deferral of elective procedures, the Company is currently unable to quantify the expected impact on its results of operations, financial condition and cash flows, which could be material, for 2020 and is therefore not providing full-year financial guidance.