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Dec 31, 2023
Stryker Q4 2023 Earnings Report
Stryker reported strong Q4 2023 results, with significant increases in net sales and EPS.
Key Takeaways
Stryker reported an 11.8% increase in net sales to $5.8 billion and a 102.7% increase in EPS to $2.98 for Q4 2023. Organic net sales grew by 11.4%. The company surpassed $20 billion in sales for the full year and expects continued growth in 2024.
Net sales increased by 11.8% to $5.8 billion.
Organic net sales increased by 11.4%.
Reported EPS increased by 102.7% to $2.98.
Adjusted EPS increased by 15.3% to $3.46.
Forward Guidance
Stryker expects 2024 organic net sales growth to be in the range of 7.5% to 9.0% and adjusted net earnings per diluted share to be in the range of $11.70 to $12.00.
Positive Outlook
- Momentum from 2023
- Strong procedural volumes
- Healthy demand for capital products
- Stabilizing macro-economic environment
- Steady progress of pricing actions
Challenges Ahead
- Sales will be modestly unfavorably impacted by foreign exchange rates for the full year, being more negative in the first half of the year.
- Adjusted net earnings per diluted share will be negatively impacted by foreign exchange rates approximately $0.05 to $0.10.
- We are unable to present a quantitative reconciliation of our expected net sales growth to expected organic net sales growth as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of acquisitions and divestitures and the impact of foreign currency exchange rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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