Zimmer Biomet’s Technology & Data, Bone Cement and Surgical product category generated $199.4 million of second-quarter 2026 sales, increasing 21.5% on a constant-currency basis, while its much larger knee business grew only 0.1%. The company is pairing the faster-growing technology portfolio with an expanded capital-return program that now targets up to $1 billion of share repurchases during 2026.
Technology & Data, Bone Cement and Surgical sales increased 21.1% on a reported basis during Q2, making the category Zimmer Biomet’s fastest-growing major product group. By comparison, knee sales totaled $828.9 million, up 0.4% reported and only 0.1% constant currency.
The divergence reflects an increasingly broader growth mix beyond Zimmer Biomet’s traditional large-joint franchises. Hip sales increased 5.1% constant currency to $562.7 million, while S.E.T. sales increased 6.2% to $586 million.
The Technology & Data category has also maintained strong growth over a longer period. First-half sales reached $371.2 million, increasing 18% reported and 16.8% constant currency. By comparison, first-half knee sales increased 0.9% constant currency to approximately $1.66 billion.
Company-wide Q2 sales increased 4.8% to $2.177 billion, including 4.7% constant-currency growth and 4% organic constant-currency growth. Net earnings reached $198.3 million, while adjusted net earnings totaled $399.6 million. Adjusted diluted EPS was $2.07.
Zimmer Biomet also generated $447.9 million of operating cash flow and $308.3 million of free cash flow during the quarter, compared with $247.7 million of free cash flow a year earlier. The cash generation provides additional capacity for investment and capital returns.
The company increased its expectation for 2026 common stock repurchases to as much as $1 billion. Zimmer Biomet had already spent approximately $500.8 million repurchasing common stock during the first half, putting it roughly halfway to the new maximum after six months.
Zimmer Biomet is simultaneously raising its operating outlook. Full-year organic constant-currency revenue growth is now expected at 2.25% to 3.25%, compared with the previous 1% to 3% range. Adjusted diluted EPS guidance increased to $8.47-$8.59 from $8.40-$8.55.
The combination of technology-related sales growth, improving cash generation and increased repurchases highlights two components of Zimmer Biomet’s current strategy: broadening the company’s growth beyond traditional implant categories while returning a larger amount of capital to shareholders.
KEY QUOTES:
“We delivered strong second quarter results with solid top- and bottom-line performance and continued progress on our key growth drivers and commercial transformation. With a strong first half, healthy underlying markets, go-to-market changes progressing as planned and continued momentum from our innovation cycle, we are raising our revenue and adjusted EPS guidance for the year. Importantly, we continue to advance our strategic priorities and remain confident our efforts will strengthen our business, build the boldest leader in MedTech, and better position Zimmer Biomet to deliver consistent, durable growth over the long term.”
Ivan Tornos, Chairman, President and CEO of Zimmer Biomet
