Stryker, a leading medical-technology company based in Kalamazoo, Michigan, announced its financial results for the fourth quarter, showing higher sales compared to the previous year. However, the company has provided guidance for slower growth in organic sales for the following year.
Fourth Quarter Performance
- Stryker reported a net profit of $1.14 billion, or $2.98 per share, compared to $563 million, or $1.47 per share, in the same period the previous year.
- Adjusting for one-time items, the company’s earnings per share reached $3.46, surpassing analysts’ expectations of $3.03.
- Sales for the fourth quarter rose by 12%, totaling $5.82 billion, exceeding analysts’ forecast of $5.6 billion.
- The company achieved organic sales growth of over 11% during this period.
2024 Outlook
- Stryker projects organic net sales growth of 7.5% to 9% for the year, a decrease from the reported growth of approximately 12% in 2023.
- The company notes that if foreign exchange rates remain stable at current levels, there may be a slight unfavorable impact on sales in 2024, with the most significant impact expected in the first half of the year.
- Additionally, Stryker expects foreign exchange rates to affect adjusted earnings per share by approximately 5 to 10 cents.
Stryker’s impressive fourth-quarter performance reflects its continued success within the medical-technology industry. Although the company anticipates slower growth for the upcoming year, it remains well-positioned to navigate market challenges and maintain its commitment to delivering innovative solutions for healthcare providers and patients.