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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.
Stryker
Stryker
Stryker Revenue by Segment
Revenue by Segment
MedSurg and Neurotechnology Revenue
CapyFin.comOrthopaedics Revenue
CapyFin.com 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.
- Weakening of economic conditions that could adversely affect the level of demand for products.
- Potential supply disruptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income