Stryker 4Q Sales Climb, Guides for Slower Organic Sales Growth This Year

By Sabela Ojea

Stryker reported higher sales in the fourth quarter, and guided for slower growth in organic sales this year.

The Kalamazoo, Mich.-based medical-technology company on Tuesday posted a net profit of $1.14 billion, or $2.98 a share, compared with $563 million, or $1.47 a share, compared with the same period a year earlier.

Stripping out one-time items, the company's earnings per share came in at $3.46. Analysts polled by FactSet had forecast adjusted earnings per share of $3.03.

Sales climbed 12% to $5.82 billion, beating analysts expectations of $5.6 billion, according to FactSet. Organic sales grew over 11% in the quarter.

For the year, the company guided for organic net sales growth of 7.5% to 9%, down from reported growth of about 12% in 2023.

Stryker said if foreign exchange rates hold near current levels, sales will be modestly unfavorably impacted in 2024, with the biggest hit in the first half.

Its adjusted earnings per share are forecast to be hit by foreign exchange rates by 5 cents to 10 cents this year, the company added.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

January 30, 2024 16:45 ET (21:45 GMT)

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