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- Stryker Corporation (NYSE:SYK) posted Q4 adjusted EPS of $3.00, up 10% Y/Y, beating the consensus of $2.84.
- Sales increased 10.7% to $5.2 billion, ahead of the consensus estimate of $4.96 billion.
- "We delivered outstanding organic sales growth in the fourth quarter, driven by strong commercial execution and improved supply," Stryker CEO Kevin Lobo said. "We expect continued positive sales momentum in 2023 and for adjusted earnings to gradually improve over the course of the year."
- MedSurg and Neurotechnology sales in Q4 were $3.1 billion, up 15.6%. Orthopaedics and Spine sales were $2.2 billion, up 4.3%.
- Stryker expects the company to experience continued volatility in 2023 due to alleviating supply chain disruptions, inflationary risks, and currency fluctuations.
- But despite the uncertainty, Stryker also reported good momentum in many parts of its business heading into 2023.
- Outlook: Stryker predicts organic net sales growth of 7–8.5% and adjusted EPS of $9.85–$10.15 in 2023, compared to the consensus of $9.86.
- Price Action: SYK shares traded higher by 3.49% at $262.67 during pre-market on the last check Wednesday.
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