Updated to include recent share value changes for Stryker
The Kalamazoo, Mich.-based company posted profits of $412 million, or $1.09 per share, on sales of approximately $3.52 billion for the three months ended March 31, seeing profits shrink 7% while sales grew 8.5% compared with the same period during the previous year.
Adjusted to exclude one-time items, earnings per share were $1.88, just ahead of the $1.84 consensus on Wall Street where analysts expected to see sales of $3.52 billion, which the company met.
“With over 7% organic sales growth in the first quarter, our multi-year momentum continued across our businesses and regions. We remain committed to providing compelling value to our customers through innovative products and services, both internally developed and acquired, which translate to strong financial results for our shareholders,” chair & CEO Kevin Lobo said in a press release.
The company released updated guidance for 2019, expecting to post adjusted net earnings per diluted share of between $8.05 and $8.20 for the year. For its upcoming second quarter, Stryker said it expects to see net EPS of between $1.90 and $1.95.
Shares in Stryker are down approximately 0.2% so far, at $186.52 as of 1:03 p.m. EDT.
Last week, Stryker said that it launched its Sonopet iQ ultrasonic aspirator system and its SpineMapGo software.