Stryker Q1 2023 Earnings Report
Key Takeaways
Stryker's Q1 2023 results showed strong performance with an 11.8% increase in reported net sales to $4.8 billion and a significant 83.3% increase in reported EPS to $1.54. Organic net sales grew by 13.6%, driven by increased unit volume and higher prices. The company has raised its full-year 2023 outlook for organic net sales growth and adjusted net earnings per diluted share.
Reported net sales increased by 11.8% to $4.8 billion.
Organic net sales increased by 13.6%.
Reported EPS increased significantly by 83.3% to $1.54.
Adjusted EPS increased by 8.6% to $2.14.
Stryker
Stryker
Stryker Revenue by Geographic Location
Forward Guidance
Stryker expects full year 2023 organic net sales growth to be in the range of 8.0% to 9.0% and adjusted net earnings per diluted share to be in the range of $10.05 to $10.25. Pricing is expected to be relatively neutral for the year. Foreign exchange rates are anticipated to have a modestly unfavorable impact on full year sales and EPS.
Positive Outlook
- Strong order book for capital equipment.
- Ongoing procedural recovery.
- Full year 2023 organic net sales growth expected to be in the range of 8.0% to 9.0%.
- Adjusted net earnings per diluted share expected to be in the range of $10.05 to $10.25.
- Pricing expected to be relatively neutral for the year.
Challenges Ahead
- Foreign exchange rates are anticipated to have a modestly unfavorable impact on full year sales and EPS.
- Impact being more negative in the first half of the year.
- Weakening of economic conditions.
- Legislative and regulatory actions.
- Inflationary pressures and increased interest rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income