Bryan C. Hanson
Chairman, President & Chief Executive Officer at Zimmer Biomet
All right. Great. Thanks, Keri, and thanks to all of you for joining us this morning for the call. We've got three sections for the call this morning. The first section, I'll talk briefly about our Q2 performance from an overall perspective and how a combination of strong execution and COVID recovery have actually enabled us to revise our expectations up again for the full year. And that's in the face of some pretty significant macro pressures, especially around FX. I'll also spend a few minutes talking about ZB innovation.
That's a primary contributor to our performance today and certainly our performance in the future. So we want to make sure we touch upon that. And for the second section, I'll switch it to Suky, and Suky will obviously provide details on Q2, but I think even more importantly and probably more interesting is to talk about 2022 guidance and our updates there. And then for our favorite section of the call, we'll close things out by addressing any questions you might have, either on Q2 or any other topic.
So let's go ahead and get started with Q2. And I'll start this section by saying that despite some very real and what I would define as universal challenges in our sector, I'm very proud of the fact that the team delivered again another solid quarter that actually was above our internal expectations. And I think this speaks to the teams -- I'm just going to define it as muscle memory associated with effectively managing through challenging times, and that's exactly what we have right now.
With the supply concerns that are out there, it is a challenging time, and it's great to know that our team has that muscle memory to manage through it effectively. And they continue to show that. The primary reason for the overachievement was stronger than anticipated COVID recovery for sure, which happened in the quarter, but also just really solid and focused execution from the team across our regions and all of our business segments. From a procedure volume standpoint, the momentum that we saw in Q1, particularly at the end of Q1, actually continued through April and May, but we did see a bit of a slowdown in June, and that has actually carried over through to July.
The recovery pace was different, depending on where you were in the world in Q2, it was strong everywhere, but it was really strong outside the U.S., where we saw strong performance pretty much across the board in all of our areas, OUS. And inside of this, we saw solid momentum again in Knees and Hips. I'm really pleased to see another strong quarter in large joints and excited that we continue to get traction for our innovation in this area. The momentum in large joints was then offset by some expected pressure in our set businesses and our other category, and Suky will provide more detail here in a minute. I think it's pretty clear for all of us, actually the foreign currency is a challenge.
Supply challenges are very real. Inflationary pressures are with us right now. And those hurt us in Q2, all of these did. They're going to continue to pressure us through the back half of '22 and potentially beyond. But just given our business momentum thus far into the year, our new product innovation and the traction we're getting there with our customers and COVID recovery, at least a profile today, our overall confidence in 2022 has actually gotten better. And as a result of that, we are raising our full year guidance for revenue, operating margin and earnings per share.
And I think this should be a solid indication that our strategy is working. And our team is executing, really just getting it done and our underlying business is gaining strength. And a big part of that, the big part of this momentum is our new product innovation and continuing to deliver in delighting our customers. And in Q2, we debuted another element of our ZBEdge ecosystem. This is an AI technology within our Omni Suite smart OR system. That focuses on optimizing surgical workflow and increasing procedure efficiency. And I'd say that's important right now.
It's really important because of the capacity constraints that our customers have. Separate from that, from a ROSA perspective, ROSA robotics momentum continued in both Knee and Hip for the quarter, and our placement pipeline remains extremely strong. And while it's still in limited launch in very early days, the feedback and interest in Persona iQ is positive, and we're focused on collecting as much early data as quickly as we possibly can with an eye toward clearly establishing clinical use benefits. So when we move into full launch in 2023, we're as prepared as possible. And all of these innovations and our broader ZBEdge Suite highlight the possibilities around data collection and integration on the patient and customer experience, and that's really our focus.
In addition to the strength of our existing product portfolio, our new product pipeline is just as exciting. We have additional product launches planned for the second half of 2022, especially across our Knee and set portfolios. In Knee, our soon-to-be launched Persona cementless form factor will complement our current form factor and provide additional momentum for cementless conversions, particularly as we get into 2023. And in our S.E.T. businesses, I'm very excited about our identity shoulder system launch. This is going to be a much more customizable shoulder for a more personalized feel for the patient that should optimize movement in the shoulder. We're also continuing to reshape our business and accelerate ZB's transformation.
We've made significant progress in streamlining and modernizing our operating model, but we've also really focused on making ZB a best and preferred place to work as well as a trusted partner, which are two of our strategic pillars for the company. In Q2, Zimmer Biomet was certified by Great Place to Work. This is a global authority on workplace culture. The U.S. certification was based on direct survey feedback from our team members, which I think makes it even more compelling. We also established a new function for refining and driving our environmental, social and governance strategy but also the commitments and actions we're taking in this area as well.
We have already seen significant improvements across almost every element of ESG. And truly, we're just getting started. We see this as an important responsibility as a company, for sure, but also something we believe is critically important to our team members, our customers and our investors. You'll be hearing more from us on the ESG front as we make further progress and as we continue to enhance our reporting in this area.
So in summary, even though there are real macro headwinds that our team is managing, the recovery shift in COVID continues and the execution of our strategy is making a difference. We'll need to stay close to the headwinds into the recovery, in the last couple of years have proven that things are fluid. But I do feel confident in our team's ability to navigate the path forward, and I'm excited about where ZB is going. And with that, I'm going to turn the call over to Suky for a deeper dive into Q2.
And again, I look at our revised expectations for the year. Okay. Suky?
