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Jun 30, 2025
Stryker Q2 2025 Earnings Report
Stryker reported strong double-digit sales and adjusted earnings per share growth in the second quarter of 2025, driven by demand for its products, innovation, and operational execution.
Key Takeaways
Stryker delivered robust financial results in Q2 2025, with consolidated net sales reaching $6.0 billion, an 11.1% increase, and adjusted diluted EPS growing by 11.4% to $3.13. The company saw strong organic net sales growth of 10.2%, with significant contributions from both MedSurg and Neurotechnology, and Orthopaedics.
Consolidated net sales increased 11.1% to $6.0 billion, with organic net sales up 10.2%.
Adjusted net earnings per diluted share grew 11.4% to $3.13.
MedSurg and Neurotechnology net sales increased 17.3% to $3.8 billion, while Orthopaedics net sales increased 2.0% to $2.2 billion.
Reported operating income margin was 18.5%, and adjusted operating income margin was 25.7%.
Revenue by Segment
Forward Guidance
Stryker is raising its full-year 2025 guidance, expecting continued strong organic net sales growth and adjusted net earnings per diluted share.
Positive Outlook
- Raising full-year 2025 guidance for organic net sales growth to 9.5% to 10.0%.
- Raising full-year 2025 guidance for adjusted net earnings per diluted share to $13.40 to $13.60.
- Updated sales guidance includes a modestly favorable pricing impact.
- Foreign exchange is expected to have a slightly positive impact on both sales and adjusted net earnings per diluted share.
- Strong demand for products and operational momentum are expected to continue.
Challenges Ahead
- Net impact from tariffs in 2025 is estimated at approximately $175 million.
- Unable to present a quantitative reconciliation for expected organic net sales growth due to unpredictability of acquisitions, divestitures, and foreign currency exchange rates.
- Unable to present a quantitative reconciliation for expected adjusted net earnings per diluted share due to unpredictability of structural optimization charges, acquisition-related expenses, and regulatory/legal/tax matters.
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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