Stryker (SYK) Misses Q2 EPS by 3c, Updates Guidance

Stryker (NYSE: SYK) reported Q2 EPS of $2.25, $0.03 worse than the analyst estimate of $2.28. Revenue for the quarter came in at $4.5 billion versus the consensus estimate of $4.54 billion.

GUIDANCE:

Stryker sees FY2022 EPS of $9.30-$9.50, versus the consensus of $9.63.

• Considering our second quarter results, the strong order book for capital equipment and the sales momentum in our implant businesses, we now expect full year 2022 organic net sales growth to be in the range of 8% to 9%. If foreign currency exchange rates hold near current levels, we expect net sales in the full year will be adversely impacted by approximately 2% to 3% and adjusted net earnings per diluted share(2) will be adversely impacted by approximately $0.25 to $0.30 in the full year. Based on our performance in the second quarter including consideration of the continued supply chain challenges and the inflationary environment, together with our increased sales guidance and continued financial discipline, and most significantly, the anticipated future impact of foreign currency, we now expect adjusted net earnings per diluted share(2) in the range of $9.30 to $9.50 per share.

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

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