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Jun 30, 2023
Stryker Q2 2023 Earnings Report
Stryker reported strong organic sales growth and margin expansion in Q2 2023.
Key Takeaways
Stryker reported a strong second quarter in 2023, with net sales increasing by 11.2% to $5.0 billion and organic net sales increasing by 11.9%. The company is back on its margin expansion pathway and its supercycle of innovation is progressing well. Adjusted EPS increased 12.9% to $2.54.
Net sales increased by 11.2% to $5.0 billion.
Organic net sales increased by 11.9%.
Reported EPS increased 12.2% to $1.93.
Adjusted EPS increased 12.9% to $2.54.
Stryker
Stryker
Forward Guidance
Stryker expects full year 2023 organic net sales growth to be in the range of 9.5% to 10.5%, including slightly positive pricing for the year. Adjusted net earnings per diluted share are expected to be in the range of $10.25 to $10.45.
Positive Outlook
- Strong order book for capital equipment
- Continued positive procedural trends
Challenges Ahead
- Foreign exchange rates may unfavorably impact net sales by 0.3% for the full year.
- Adjusted net earnings per diluted share will be unfavorably impacted by $0.05 to $0.10 for the full year due to foreign exchange rates.