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Stryker
🇺🇸 NYSE:SYK
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•
Mar 31, 2021

Stryker Q1 2021 Earnings Report

Stryker's Q1 2021 results showed net sales increased by 10.2% and adjusted EPS increased by 4.9%.

Key Takeaways

Stryker reported a 10.2% increase in net sales and a 4.9% increase in adjusted EPS for the first quarter of 2021. The company is optimistic about continued momentum and the Wright Medical integration.

Reported net sales increased 10.2% from 2020 and 12.4% from 2019 to $4.0 billion.

Organic net sales increased 1.8% from 2020 and 4.7% from 2019.

Reported EPS decreased 39.2% to $0.79.

Adjusted EPS increased 4.9% to $1.93.

Total Revenue
$3.95B
Previous year: $3.59B
+10.2%
EPS
$1.93
Previous year: $1.84
+4.9%
Organic Net Sales Growth
1.8%
Previous year: 2.4%
-25.0%
Gross Profit
$2.51B
Previous year: $2.33B
+7.6%
Cash and Equivalents
$2.24B
Previous year: $3.96B
-43.5%
Free Cash Flow
$369M
Previous year: $447M
-17.4%
Total Assets
$33.5B
Previous year: $29.4B
+13.6%

Stryker

Stryker

Stryker Revenue by Segment

Stryker Revenue by Geographic Location

Forward Guidance

Stryker expects 2021 organic net sales growth to be in the range of 8% to 10% from 2019 and adjusted net earnings per diluted share to be in the range of $9.05 to $9.30.

Positive Outlook

  • Expect 2021 organic net sales growth to be in the range of 8% to 10% from 2019.
  • Expect adjusted net earnings per diluted share to be in the range of $9.05 to $9.30.
  • Guidance includes the full year impact of the acquisition of Wright Medical.
  • Expect EPS will be positively impacted by $0.05 to $0.10 for the full year if foreign currency exchange rates hold near current levels.
  • Guidance assumes an ongoing recovery in key geographies leading to more normalized elective procedure levels during the second quarter of 2021.

Challenges Ahead

  • Continue to monitor and evaluate the impact the global response to the COVID-19 pandemic has had, and will continue to have, on our operations and financial results.
  • Expect continued unfavorable price reductions of approximately 1% in 2021.
  • The impact on our operations and financial results of the COVID-19 pandemic and any related policies and actions by governments or other third parties
  • Unexpected liabilities, costs, charges or expenses in connection with the acquisition of Wright Medical Group N.V.
  • Weakening of economic conditions that could adversely affect the level of demand for our products

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Stryker