The Kalamazoo, Mich.-based medical device maker posted profits of $522 million, or $1.38 per share, on sales of $2.72 billion for the 3 months ended Dec. 31, 2015, for bottom-line growth of 100.8% on sales growth of 3.7% compared with Q4 2014.
Adjusted to exclude 1-time items, earnings per share were $1.55, a penny ahead of The Street, where analysts were looking for sales of $2.71 billion for the quarter.
Full-year profits were $1.44 billion, or $3.78 per share, on sales of $9.95 billion, for a profit increase of 179.4% on top-line growth of 2.8%. Adjusted EPS came in at $5.12 apiece, again a penny ahead of Wall Street, where the consensus sales expectation was for $9.94 billion.
“With 2015 organic sales growth of 6.1%, bolstered by a strong fourth quarter increase of 6.4%, our top line results came in above our initial guidance,” chairman & CEO Kevin Lobo said in prepared remarks. “This performance reflects the strength of our diversified revenue model, a commitment to innovation and the competitive advantage of our sales and marketing organizations. Our full year adjusted diluted EPS also exceeded our initial expectation, underscoring our commitment to delivering sales growth at the high end of med tech and leveraged earnings gains. With these results and the current momentum across our businesses, we feel well positioned heading into 2016.”
Stryker said it expects to put up adjusted EPS of $1.17 to $1.22 on sales growth of 5.0% to 6.0% during the 1st quarter. Full-year adjusted EPS are pegged at $5.50 to $5.70, again on sales growth of 5.0% to 6.0%.
SYK shares closed up 1.8% at $96.15 apiece today.