Zimmer Biomet raises annual profit forecast on lower tariff impact
The Warsaw, Indiana-based company now expects about $40 million in tariff headwinds for 2025, down from its previous estimate of $60 million to $80 million.
"Our tariff assumption is better than we originally expected, as we've had more time to work through our mitigation strategies and are seeing lower overall tariff rates," CFO Suketu Upadhyay told analysts in post-earnings conference call.
The company previously expected tariff risks in China.
Medical device makers have benefited from a surge in demand as more people, particularly older Americans, seek health care services and surgical procedures.
Zimmer lifted its 2025 adjusted profit per share $8.10 to $8.30, up from its prior view of $7.90 to $8.10 per share. Analysts were expecting $7.97 per share, according to data compiled by LSEG.
It posted an adjusted profit of $2.07 per share during the quarter ended June 30, topping estimates of $1.98 per share. Its second-quarter revenue came in at $2.08 billion, also above expectations of $2.05 billion.
"We think this performance should be enough to satisfy cautious investor expectations," said J.P. Morgan analyst Robbie Marcus.
Zimmer said it expects 2025 revenue growth between 6.7% and 7.7%, from its prior 5.7% to 8.2% forecast.
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The Guardian
16 minutes ago
- The Guardian
Planning to post a video of your layoff online? You may want to think twice
An employee shares a video of her 'real time, emotional reaction' to being one of 2,200 people laid off from her company, including snippets of the company's announcement and her one-on-one interview with HR employees, and her direct manager. A technical sales worker recorded a meeting where she was laid off to 'inform her followers and demonstrate how volatile working in tech is'. Another worker posted a video of the moment she was laid off, including her 'savage response' which earned her 'huge amounts of praise from social media users'. It's the latest viral social media trend: recording yourself being laid off. These employees are viewed in a mostly sympathetic light. And those giving advice generally direct their counsel towards business managers on how to handle this issue. Like the career expert who tells employers to 'treat layoffs as emotional events, not just administrative tasks', and 'personalize career support'. It's good advice for employers. Thank you. I'd like to give some advice to those who are recording their layoffs. But let me start with a question: why are you recording your layoff? What do you hope to accomplish by this? Is the goal to shame your employer? To make yourself a TikTok star? To 'educate' others? To comfort yourself? There is no good reason for doing this. Don't do this. For starters, if you're part of a layoff, please understand the situation. Employers lay off workers for a reason. It's usually economics. No manager or business owner wants to lay people off. No one is hiring someone with the intention of firing them in the future. No one is happy about this. For a big business, a layoff could mean an adjustment in overhead. But for a small business – where every employee is critical – a layoff is probably much more serious. So please don't be so quick to shame the company. Next, don't overthink this. This is clearly not about you. You're probably doing a decent job. If it was about you, then you'd be the only one being fired. But unfortunately, you're part of a mass event, caused by circumstances probably not in your control. This is bad luck. Sure, there may be others who – in your opinion – are more deserving of such a fate. But life is not fair. And you probably got caught up in its unfairness. Move on. Don't record your layoff. Also, try to think ahead. The world is smaller than you might think. If you don't believe me then check how many '2nd' and '3rd' connections you have on LinkedIn. Everyone you know knows someone else that you know … or may need to know in the future. Recording your layoff and – God forbid – becoming internet famous for it is not the kind of professional reputation you want to build for yourself. The trend may be viral but 99.9% of normal people don't do this. They may like your post or make an anonymous comment. But that doesn't mean they would act in the same manner. One woman who quit her job at a tech company and went viral for the video couldn't find employment after six months, despite all the messages that people would 'hire her in a heartbeat'. Don't do this. I know that sometimes you have to make mistakes to learn from them. But let's agree that not making a mistake is still the best avenue. So please: don't make the mistake of recording your layoff. You'll regret it.
The Guardian
41 minutes ago
- The Guardian
Companies aiding Trump's immigration crackdown see ‘extraordinary' revenues
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Palantir saw 53% growth in revenue from US government contracts in the second quarter of 2025 compared with the same period the year prior and surpassed $1bn in total quarterly revenue for the first time. Analysts had expected the company to bring in $939.4m in revenue. The company, which connects and analyzes disparate sets of data to enable its customers to build products with that information, brings in the majority of its revenue from government contracts. Its biggest US customer is the Department of Defense, where the US army, which announced a $10bn agreement with Palantir last week, is housed. On the immigration side, the Department of Homeland Security (DHS) has deepened its partnership with Palantir since the start of the Trump administration, which it's been working with since 2011. Immigration and Customs Enforcement (Ice), the agency primarily engaged in arresting, detaining and deporting immigrants, most recently announced a $30m contract with Palantir to build a database that makes its deportation and detention machine more efficient. 'Palantir gets attacked just because we help make this country even better, because we support the values, because we defend it,' Karp said. 'And us being able to win while having an opinion does have an impact on the world, if only because the people who think we are wrong are not good, have to be a little jealous and suffer.' While Palantir is making it easier to deport immigrants, private prison corporations GeoGroup and CoreCivic are bringing in more money than expected helping detain them. GeoGroup reported $636.2m in revenue this quarter, beating analyst predictions of $623.4m, while CoreCivic announced $538.2m in the second quarter of this year, a 9.8% increase from last year's second quarter. George Zoley, the GeoGroup company chief executive, said its detention facilities are fuller than they've ever been, with Ice using 20,000 beds across 21 GeoGroup detention centers, about one-third of the estimated 57,000 beds in Ice detention centers across the country. GeoGroup executives also said in the call they have begun exploring detention centers at US military sites, one of the many 'unprecedented growth opportunities' Zoley spoke of during the call. While there has been a big boost to GeoGroup's detention business, its surveillance subsidiary is not yet seeing the massive growth company executives predicted earlier this year. Executives said they expected the Intensive Supervision Appearance Program (ISAP) – an immigrant monitoring initiative run by the company's subsidiary BI Inc for 20 years – would expand beyond its previous peak of 370,000 immigrants being monitored. The number of immigrants who are currently being surveilled by Ice has hovered around 183,000 for the past few months. '[ICE hasn't] communicated at this time the expansion of ISAP,' Zoley said on the investor call. 'Their focus is intensely on scaling up the detention capacity.' That said, the company expects ISAP numbers to start increasing next year once 'detention capacity is maximized'. The Trump administration has signaled a desire to increase the number of immigrants surveilled by ankle monitors. Many immigrants have described ISAP surveillance as intrusive, at times physically painful and inefficient. In the call with investors, CoreCivic executives revealed they have offered Ice around 30,000 beds to detain immigrants throughout the company's nationwide network. The One Big Beautiful Bill Act legislation was passed by Congress and signed by Trump last month, providing DHS a massive influx of cash. Ice was given $45bn to expand its detention network. Sign up to TechScape A weekly dive in to how technology is shaping our lives after newsletter promotion Ice currently has funds for around 41,500 beds but is currently detaining around 57,000 people throughout its detention network. With the incoming influx of cash, the agency will have the funds to likely detain thousands upon thousands more – and private prison contractors are ready. 'Our business is perfectly aligned with the demands of this moment,' said Damon T Hininger, the CEO of CoreCivic, during Thursday's call with investors. 'We are in an unprecedented environment, with rapid increases in federal detention populations nationwide and a continuing need for solutions we provide.' As the office of management and budget readies the finances from the spending package, private prison companies have wasted no time in selling their services to immigration officials. 'As we know, budgets are moral documents, and last month Congress decided to fully fund cruelty aimed at immigrant communities at the expense of vital programs that serve all Americans,' said Setareh Ghandehari, advocacy director for the Detention Watch Network. 'Private prison companies have been giddy since last November about the prospect of making money at the expense of all of us.' Since Trump took office again this year, CoreCivic has modified, extended or signed new contracts to detain immigrants at eight different facilities, according to company financial disclosures. Geo Group has done the same with five different facilities. The earning calls from the two companies come as immigrant rights organizations and human rights groups criticize conditions inside immigration jails nationwide. Setareh added that private prison companies' profits come from 'the destruction of human lives as directed by the Trump administration and made possible by the majority Congress'. A CoreCivic facility in New Mexico where immigrants and federal prisoners are detained, the Cibola correctional facility, is currently under investigation by the FBI for an 'epidemic' of drug trafficking, as the Guardian recently revealed. At least 15 people have died inside that facility since 2018. Last September, the company pitched Cibola to Ice as an ideal place to detain more immigrants.
Daily Mail
an hour ago
- Daily Mail
Chick-fil-A knocked off top spot as Mexican favorite is crowned America's best fast food
Chick-fil-A is no longer the top fast food chain in America — that title now belongs to Del Taco. It's the second year in a row the Mexican-inspired chain has topped the list, beating out bigger names despite operating just 600 restaurants nationwide. The 61-year-old brand, known for burritos, fries and even vegan options, is owned by Jack in the Box — which itself took second place. A&W secured third place. Meanwhile, Chick-fil-A slipped down the list to fourth after backlash over a recipe tweak to its beloved waffle fries. Some customers even threatened a boycott, calling the change 'gross,' though the chain continues to thrive with more than 3,000 locations across North America. Despite landing top spot, it is not all rosy for Del Taco. Its owners are looking to sell the brand, while a South Carolina-based franchisee Matador Restaurant Group filed for bankruptcy. In fifth in USA Today's annual list was Wendy's, the fast food empire famous for its Dave's burgers and Frosty desserts. It was a move up the list after not cracking the top 10 last year, helped by rolling out a raft of deals in last year's fast food price war. KFC dropped four spots to sixth place in this year's ranking. It was also kicked out of separate ranking of the top chicken chains in the US. Del Taco beat out a variety of restaurants like Chick-fil-A and Taco Bell Its sister brand, Taco Bell, stayed put at seventh place.. Raising Cane's was recently named the top chicken chain but only made number eight in this list. Zaxby's and McDonald's filled the last two spots this year, the latter having made headlines for bringing back its snack wraps. Del Taco is expanding. It is set to enter the Louisville, Kentucky, market with five restaurants, opening between 2026 and 2027. The chicken chain opened over 500 restaurants during that time, while Taco Bell added 24 units to its 8,000+ store amount. While Raising Cane's and Zaxby's finished at eighth and ninth on the list, they're coming for fast food chains by initiating massive US expansions. Their store count is still nothing compared to McDonald's, the largest fast food chain in the nation with first quarter earnings that were less than desirable. Meanwhile, a separate section of USA Today's ratings, Habit Burger & Grill's Double Char was named the nation's best fast food burger. Multiple restaurant chains featured in this year's bast fast food burger ranking kicked other brands off the list In-n-Out Burger's Double Double dropped two places to number four after slipping down the rankings on last year's list. Its humiliation came after CEO Lynsi Snyder sparked outrage after deciding to move the company to Tennessee. A&W and Jack in the Box were praised for its Papa Burger and Jumbo Jack Cheeseburger, coming in at number three and four respectively. Culver's rounded up the top 5 with its double ButterBurger with cheese after missing out on the list last year. Multiple chains have had its financial up and downs this year including Jack in the Box, which is planning to shutter between 150 and 200 locations. filed for bankruptcy last year.
