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Mar 31, 2022
Stryker Q1 2022 Earnings Report
Reported solid first quarter results amidst a challenging macroeconomic environment and steady improvement of elective surgery volumes.
Key Takeaways
Stryker reported an 8.1% increase in net sales to $4.3 billion and a 9.2% increase in organic net sales. The company's reported EPS increased by 6.3% to $0.84, while adjusted EPS increased by 2.1% to $1.97.
Reported net sales increased 8.1% to $4.3 billion.
Organic net sales increased 9.2%.
Reported EPS increased 6.3% to $0.84.
Adjusted EPS increased 2.1% to $1.97.
Stryker
Stryker
Forward Guidance
The company now expects full year 2022 organic net sales growth towards the high end of their guidance range of 6% to 8%. Adjusted net earnings per diluted share is expected at the lower end of their guidance range of $9.60 to $10.00 per share.
Positive Outlook
- Strong orders for capital equipment.
- Full year 2022 organic net sales growth towards the high end of guidance range of 6% to 8%.
Challenges Ahead
- Dynamic supply chain pressures.
- COVID-19 pandemic uncertainty.
- Expect net sales in the full year will be adversely impacted by approximately 1.2% due to foreign currency exchange rates.
- Expect adjusted net earnings per diluted share will be adversely impacted by approximately $0.10 to $0.15 in the full year due to foreign currency exchange rates.
- Considering the supply chain pressures and inflationary environment.