Brief: Zimvie Reports First Quarter 2023 Financial Results And Provides Update To Annual Guidance

Zimvie

03/05/2023 21:55

May 3 (Reuters) - ZimVie Inc  ZIMV.O :
    * ZIMVIE REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS AND
PROVIDES
UPDATE TO ANNUAL GUIDANCE
    * ZIMVIE INC - HAVE TAKEN DEFINITIVE ACTIONS TO CONTINUE
REDUCING
OPERATING EXPENSES TO IMPROVE OUR OPERATING PROFILE
    * ZIMVIE INC - EXPECT AN APPROXIMATE 5% REDUCTION IN OUR
GLOBAL
WORKFORCE
    * ZIMVIE INC - RECENTLY INITIATED ADDITIONAL RESTRUCTURING
ACTIVITIES TO BETTER POSITION ORGANIZATION FOR FUTURE SUCCESS
BASED ON CURRENT ENVIRONMENT
    * ZIMVIE INC - ESTIMATE THAT PROGRAM WILL GENERATE $17-20
MILLION
IN ANNUALIZED NET SAVINGS BY 2024
    * ZIMVIE INC - SEES 2023 NET SALES $835 MILLION TO $860
MILLION
    * ZIMVIE INC - SEES 2023 ADJUSTED EPS $0.40 TO $0.60

Source text for Eikon:  ID:nGNXbgGYQN 
Further company coverage:  ZIMV.O 

 ((Reuters.Briefs@thomsonreuters.com;))