Stryker Corp ( (SYK) ) has released its Q1 earnings. Here is a breakdown of the information Stryker Corp presented to its investors.
Stryker Corporation is a leading global medical technology company specializing in innovative products and services in MedSurg, Neurotechnology, Orthopaedics, and Spine, impacting over 150 million patients annually. In its latest earnings report for the first quarter of 2024, Stryker announced a 9.7% increase in net sales to $5.2 billion, with organic net sales growth at 10.0%. The company also reported a significant rise in earnings per share, with a 33.1% increase in reported EPS to $2.05 and a 16.8% increase in adjusted EPS to $2.50. Stryker’s MedSurg and Neurotechnology segments led the growth, with net sales rising by 11.5%, while the Orthopaedics and Spine segment saw a 7.5% increase. The company’s operating income margin improved to 18.5%, with an adjusted margin of 21.9%. Looking ahead, Stryker remains optimistic about its growth prospects for 2024, expecting organic net sales growth between 8.5% and 9.5%, despite potential foreign exchange challenges. The company aims to expand its operating margins and anticipates adjusted net earnings per diluted share to range from $11.85 to $12.05 for the full year.