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Jun 30, 2021
Stryker Q2 2021 Earnings Report
Stryker's financial performance surged in Q2 2021, driven by strong sales growth and effective integration of Wright Medical.
Key Takeaways
Stryker reported a significant increase in net sales and earnings for the second quarter of 2021. Net sales increased by 55.4% compared to 2020 and 17.6% compared to 2019, reaching $4.3 billion. The company's strong performance was attributed to the moderation of the pandemic and the successful integration of Wright Medical.
Net sales increased by 55.4% compared to 2020 and 17.6% compared to 2019, reaching $4.3 billion.
Organic net sales increased by 42.9% from 2020 and 9.3% from 2019.
Reported EPS was $1.55, while adjusted EPS reached $2.25.
The company raised its full-year guidance, expecting organic net sales growth of 9% to 10% from 2019 and adjusted net earnings per diluted share in the range of $9.25 to $9.40.
Revenue by Segment
Forward Guidance
Stryker expects 2021 organic net sales growth to be in the range of 9% to 10% from 2019, and now expects adjusted net earnings per diluted share to be in the range of $9.25 to $9.40.
Positive Outlook
- Ongoing recovery in key geographies.
- More normalized elective procedure levels continuing into the second half of 2021.
- Full year impact of the acquisition of Wright Medical.
- EPS will be positively impacted by approximately $0.10 for the full year if foreign currency exchange rates hold near current levels.
- Strong financial results in the second quarter.
Challenges Ahead
- Continued unfavorable price reductions of approximately 1% in 2021.
- Impact on 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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