Stryker 2Q Earnings Rise But Fall Short of Expectations

Date : 07/25/2019 @ 10:00PM
Source : Dow Jones News
Stock : Stryker Corp (SYK)
Quote : 215.29  0.0 (0.00%) @ 1:59PM

Stryker 2Q Earnings Rise But Fall Short of Expectations

Stryker (NYSE:SYK)
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2 Months : From Jul 2019 to Sep 2019

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By Dave Sebastian

 

Stryker Corp. (SYK) posted higher second-quarter earnings as sales rose, but net profit fell short of analysts' expectations.

The Michigan company's profit climbed to $480 million, or $1.26 a share, from $452 million, or $1.19 a share, a year earlier. Analysts polled by FactSet were expecting a profit of $603.4 million, or $1.73 a share.

On an adjusted basis, profit rose to $1.98 a share from $1.76 a share a year earlier. Analysts were expecting $1.71.

Revenue rose to $3.65 billion from $3.32 billion in the prior year.

The maker of hip and knee implants and surgical products raised its forecast for full-year adjusted profit to $8.15 to $8.25, from its earlier view of $8.05 to $8.20. It said it expects organic net sales to increase between 7.5% and 8%, also higher than its earlier view of 6.8% to 7.5%.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

July 25, 2019 16:45 ET (20:45 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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