Stryker Earned $2.20 per Share

After the bell, Stryker (SYK) had a big earnings miss. For Q3, the company made $2.20 per share which was eight cents below Wall Street’s consensus.

Net sales increased 11.3% while organic net sales increased 4.5%.

“Our teams showed strong resilience and delivered solid quarterly financial results despite a resurgence of COVID-19 that intensified through the quarter,” said Kevin Lobo, Chair and Chief Executive Officer. “This latest spike mostly impacted our U.S. implant related businesses as scheduled procedures were deferred. Despite those impacts, we delivered strong growth in our MedSurg and NeuroTech businesses and are ready to support our customers as the pandemic recedes.”

For guidance:

We now expect 2021 organic net sales growth to be in the range of 7% to 8% from 2019, and now expect adjusted net earnings per diluted share(2) to be in the range of $9.08 to $9.15, including the full year impact of the acquisition of Wright Medical. If foreign currency exchange rates hold near current levels, we expect EPS will be positively impacted by approximately $0.05 to $0.10 for the full year.

That’s down from the previous guidance for organic sales growth of 9% to 10% and earnings between $9.25 and $9.40 per share.

We had new highs today from Intercontinental Exchange (ICE), Moody’s (MCO), Sherwin-Williams (SHW), Thermo Fisher Scientific (TMO) and Zoetis (ZTS).

Posted by on October 28th, 2021 at 4:19 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.