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Jun 30, 2024
Stryker Q2 2024 Earnings Report
Reported strong organic sales growth and remained committed to margin expansion goals.
Key Takeaways
Stryker reported a strong second quarter in 2024, with net sales increasing by 8.5% to $5.4 billion and organic net sales growing by 9.0%. The company's reported EPS increased by 10.9% to $2.14, while adjusted EPS increased by 10.6% to $2.81. Stryker is raising its full-year guidance for organic net sales growth to 9.0% to 10.0% and adjusted net earnings per diluted share to $11.90 to $12.10.
Net sales increased 8.5% to $5.4 billion.
Organic net sales increased 9.0%.
Reported EPS increased 10.9% to $2.14.
Adjusted EPS increased 10.6% to $2.81.
Forward Guidance
Stryker now expects full year 2024 organic net sales growth to be in the range of 9.0% to 10.0% with a favorable pricing impact of approximately 0.5%. Given sales momentum, the company now expects adjusted net earnings per diluted share to be in the range of $11.90 to $12.10.
Positive Outlook
- Expects full year 2024 organic net sales growth to be in the range of 9.0% to 10.0%.
- Expects a favorable pricing impact of approximately 0.5%.
- Expects adjusted net earnings per diluted share to be in the range of $11.90 to $12.10.
- Sustained procedural volumes.
- Healthy demand for capital products.
Challenges Ahead
- Anticipate a moderately unfavorable impact on full year net sales if foreign exchange rates hold near current levels.
- Expect adjusted net earnings per diluted share will be negatively impacted in the range of $0.10 to $0.15 due to foreign exchange rates.
- Weakening of economic conditions could adversely affect the level of demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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