Stryker beats The Street with Q2 results

July 25, 2019 By Chris Newmarker

Stryker (NYSE:SYK) posted second-quarter results this evening that beat the consensus forecast on Wall Street — and further boosted its earnings guidance for the year.

The Kalamazoo, Mich.–based orthopedic device giant reported profits of $480 million, or $1.26 per share, on sales of $3.65 billion for the three months ended June, for a bottom-line gain of 6.2% sales growth of 9.9% compared with Q2 2018.

Adjusted to exclude one-time items, earnings per share were $1.98, 4¢ ahead of The Street, where analysts were looking for sales of $3.6 billion.

“The durability of our growth is evidenced by continued strength across our businesses and regions, as well as our revised full-year outlook,” CEO Kevin A. Lobo said in a news release.

Stryker said it expects to log adjusted EPS in the range of $8.15 to $8.25 this year, up from a prior guidance range of $8.05 to $8.20.

Investors reacted by sending SYK shares up 1.3%, to $215 per share, in the first 10 minutes of after-hours trading.

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