Stryker (SYK) Tops Q1 EPS by 14c, Offers Guidance

Stryker (NYSE: SYK) reported Q1 EPS of $2.50, $0.14 better than the analyst estimate of $2.36. Revenue for the quarter came in at $5.2 billion versus the consensus estimate of $5.1 billion.

GUIDANCE:

Stryker sees FY2024 EPS of $11.85-$12.05, versus the consensus of $11.85.

• Considering our first quarter results, strong procedural volumes and healthy demand for our capital products, we now expect full year 2024 organic net sales growth(2) to be in the range of 8.5% to 9.5% with the pricing impact to be roughly flat. If foreign exchange rates hold near current levels, we anticipate net sales will be moderately unfavorably impacted for the full year, being more negative in the first half of the year, and adjusted net earnings per diluted share(2) will be negatively impacted at the higher end of our previously guided range of $0.05 to $0.10 for the full year. With our momentum heading into the rest of the year and our commitment to expanding operating margins, we now expect adjusted net earnings per diluted share(2) to be in the range of $11.85 to $12.05.

For earnings history and earnings-related data on Stryker (SYK) click here.

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