Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Q2 2019 Earnings Conference Call - Final Transcript

Jul 26, 2019 • 08:30 am ET


Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Q2 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good morning, ladies and gentlemen, and welcome to the Zimmer Biomet Second Quarter 2019 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded today, July 26, 2019. Following today's presentation, there will be a question-and-answer session. At this time, all participants are in a listen-only mode. [Operator Instructions]

I would now like to turn the conference over to Cole Lannum, Senior Vice President, Investor Relations and IRO. Please go ahead, sir.

Cole Lannum

Thank you, operator, and good morning. Welcome to Zimmer Biomet's second quarter earnings conference call. I'm joined by Bryan Hanson, Suketu Upadhyay and Dan Florin.

Before we get started, I'd like to remind you that our comments during this call will include forward-looking statements. Actual results may differ materially from those indicated by forward-looking statements due to a variety of risks and uncertainties. Please note that we assume no obligation to update these forward-looking statements even if actual results or future expectations change materially. Please refer to our SEC filings for a detailed discussion of these risks and uncertainties in addition to the inherent limitations of such forward-looking statements.

Also the discussions on this call will include certain non-GAAP financial measures. Reconciliation of these measures to the most directly comparable GAAP financial measures is included within the earnings release found on our website and zimmerbiomet.com.

With that, I'll now turn over the call to Bryan. Bryan?

Bryan C. Hanson

Thanks Cole. Before we actually get into the quarter in any views of the back half of the year or beyond, why don't we just go ahead and address the elephant in the room. I'm clearly have had a lot of people talking about the CFO transition. People have been writing quite a bit about it, even some people thought that maybe the CFO transition might have signaled that we didn't have confidence in our guidance. This morning has already proven that not to be the case.

This truthfully is just Dan's intent to spend more time with his family. And who are we to get in the way of that aspiration. Really that truly is what it is. Dan was kind enough to give us enough notice, me specifically, to be able to really set this up in an orderly way. Without that time, you can't have a proper transition. You can't plan to organize this thing in a way that is non-disruptive and Dan gave us that opportunities. That's really what this is all about.

Now the good news is because we have done this in orderly fashion, I get the great opportunity to have a earnings call with two CFOs by my side and my IR guy. So I'm pretty much don't even need to be here today. So I'm looking forward to this call. I think I can actually relax in this one.

Suketu, I just want to say to you welcome to the team, brand new on the team. This is your first call obviously as CFO of Zimmer Biomet. Important day for us and