Stryker Corp. (SYK) Misses Q2 EPS by 3c; Sees FY EPS Shy of Street

Stryker Corp. (NYSE: SYK) reported Q2 EPS of $1.00, $0.03 worse than the analyst estimate of $1.03. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.19 billion.

"We delivered another solid quarter of operational results with balanced sales growth across all segments and geographies, as well as strong cash flow performance,” said Kevin A. Lobo, President and Chief Executive Officer. "Our earnings per share was impacted by foreign exchange headwinds which we expect to continue throughout the year."

For the full year 2013, Stryker is projecting constant currency sales growth in a range of 5.0% to 6.5%. If foreign currency exchange rates hold near current levels, the Company anticipates net sales will be negatively impacted by approximately 1.5% to 2.5% in both the third quarter and full year of 2013. Excluding the expected impact of foreign currency and acquisitions, projected 2013 sales growth is 4.0% to 5.5% for the full year. Stryker Corp. sees FY2013 EPS of $4.20-4.25, versus the consensus of $4.29.

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

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