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Sep 30, 2024
Stryker Q3 2024 Earnings Report
Stryker reported a strong third quarter with significant growth in net sales and earnings.
Key Takeaways
Stryker reported a strong Q3 2024 with net sales increasing by 11.9% to $5.5 billion and organic net sales growing by 11.5%. The company's adjusted EPS increased by 16.7% to $2.87, and they are on track to achieve their adjusted operating margin expansion goals. They now expect adjusted net earnings per diluted share to be in the range of $12.00 to $12.10.
Net sales increased by 11.9% to $5.5 billion.
Organic net sales increased by 11.5%.
Adjusted EPS increased 16.7% to $2.87.
Net earnings increased 20.5% to $834 million.
Forward Guidance
Stryker now expects full year 2024 organic net sales growth to be in the range of 9.5% to 10.0% with a favorable pricing impact in the range of 0.5% to 1.0%. They now expect adjusted net earnings per diluted share to be in the range of $12.00 to $12.10.
Positive Outlook
- Sustained demand for capital products.
- Healthy procedural volumes.
- Strong first nine months of the year.
- Strong sales momentum going into the fourth quarter.
- Expect full year 2024 organic net sales growth to be in the range of 9.5% to 10.0%
Challenges Ahead
- Slightly unfavorable impact on full year net sales due to foreign exchange rates.
- Adjusted net earnings per diluted share will be negatively impacted by approximately $0.10 due to foreign exchange rates.
- Weakening of economic conditions.
- Geopolitical risks, including from international conflicts and elections in the United States and other countries.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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