Stryker Earns $1.24 per Share

Q1 earnings for Stryker (SYK) are out. The company earned $1.24 per share which beat estimates by four cents per share. Net sales grew 4.9% to $2.5 billion. That’s 6.1% constant currency.

We are pleased by our first quarter performance and expect the momentum to continue,” said Kevin A. Lobo, Chairman and Chief Executive Officer. “As a result, we have raised our full year guidance for both sales and adjusted net earnings.”

Indeed they did. Stryker now sees full-year organic sales growing between 5.5% and 6.5%. The pervious range was 5% to 6%.

Stryker sees full-year earnings ranging between $5.65 and $5.80 per share. The previous range was $5.57 to $5.77 per share. For Q1, they see earnings coming in between $1.33 and $1.38 per share.

Regarding the impact of the dollar, Stryker said:

If foreign currency exchange rates hold near current levels, we expect net sales in both the second quarter and full year to be negatively impacted by approximately 1.0% and adjusted net earnings per diluted share to be negatively impacted by approximately $0.03 in the second quarter and $0.10-$0.12 in the full year.

Posted by on April 20th, 2016 at 5:18 pm


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