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Sep 30, 2021
Stryker Q3 2021 Earnings Report
Stryker's Q3 2021 financial results reflected solid performance amidst COVID-19 resurgence.
Key Takeaways
Stryker reported a solid third quarter in 2021 with net sales increasing by 11.3% compared to 2020 and 16.0% compared to 2019, reaching $4.2 billion. The company saw growth in MedSurg and NeuroTech businesses, although U.S. implant related businesses were impacted by deferred procedures due to a resurgence of COVID-19. Reported EPS decreased by 30.1% to $1.14, while adjusted EPS increased by 2.8% to $2.20.
Reported net sales increased 11.3% from 2020 and 16.0% from 2019, reaching $4.2 billion.
Organic net sales increased 4.5% from 2020 and 8.4% from 2019.
Reported EPS decreased 30.1% to $1.14.
Adjusted EPS increased 2.8% to $2.20.
Stryker
Stryker
Stryker Revenue by Segment
Revenue by Segment
Orthopaedics Revenue
CapyFin.com Forward Guidance
Stryker expects 2021 organic net sales growth to be in the range of 7% to 8% from 2019. Adjusted net earnings per diluted share are expected to be in the range of $9.08 to $9.15, including the full year impact of the acquisition of Wright Medical. EPS will be positively impacted by approximately $0.05 to $0.10 for the full year if foreign currency exchange rates hold near current levels.
Positive Outlook
- Expected 2021 organic net sales growth in the range of 7% to 8% from 2019.
- Adjusted net earnings per diluted share expected to be in the range of $9.08 to $9.15.
- Includes the full year impact of the acquisition of Wright Medical.
- EPS positively impacted by approximately $0.05 to $0.10 for the full year if foreign currency exchange rates hold near current levels.
- Monitoring and evaluating the impact of the global response to the COVID-19 pandemic on operations and financial results.
Challenges Ahead
- Volatility experienced as a result of COVID.
- Labor and staffing environment in healthcare potentially hindering an accelerated recovery.
- Unable to predict with reasonable certainty the impact and timing of restructuring-related and other charges.
- Unable to predict with reasonable certainty acquisition-related expenses and fair value adjustments to inventory.
- Unable to predict with reasonable certainty the outcome of certain regulatory, legal and tax matters.