Stryker Earns $1.11 per Share

Stryker (SYK) reported Q1 earnings of $1.11 per share. That was three cents better than estimates. The company also raised the low end of their full-year forecast by five cents per share. The new range is $4.95 to $5.10 per share. Net sales rose by 3.2% to $2.4 billion, or 7.4% in constant currency.

“We are pleased with our first quarter results, with another strong quarter of nearly 6% organic sales growth and disciplined expense management,” said Kevin A. Lobo, Chairman and Chief Executive Officer. “We expect this momentum, which is balanced across segments and regions, to continue and are raising the low end of full year sales and earnings guidance.”

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We expect 2015 constant currency sales growth in the range of 6.0% to 7.0%, including organic sales growth in the range of 5.0% to 6.0%. Based on current foreign currency exchange rates we expect adjusted diluted net earnings per share to be in the range of $1.15-$1.20 and $4.95-$5.10 in the second quarter and the full year, respectively. If foreign currency exchange rates hold near current levels, we expect sales in the second quarter and full year of 2015 to be negatively impacted by approximately 3.5% to 4.5% and adjusted diluted net earnings per share to be negatively impacted by approximately $0.25 to $0.30 in the full year, approximately half of which will be in the first half of the year.

Posted by on April 21st, 2015 at 4:17 pm


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