Stryker shares rise on Q4, FY2018 earnings Beat

Shares in Stryker (NYSE:SYK) have risen in after-hours trading today after the medical device maker beat expectations on Wall Street with its fourth quarter and full fiscal year 2018 earnings. The Kalamazoo, Mich.-based company posted profits of approximately $2.1 billion, or $5.44 per share, on sales of approximately $3.8 billion for the three months ended December 31, seeing a swing from the red on the bottom-line while sales grew 9.4% compared with the same period during the previous year. Adjusted to exclude one-time items, earnings per share were $2.18, just ahead of the $2.15 consensus on Wall Street, where analysts expected to see sales of approximately $3.7 billion, which the company topped. For the full year, Stryker posted profits of approximately $3.6 billion, or $9.34 per share, on sales of approximately $13.6 billion, for bottom-line growth of 248.3% while sales grew 9.3% compared with the previous year. After adjusting for one-time items, earnings per share for the year were $7.31, just ahead of the $7.28 consensus on Wall Street where analysts expected to see sales of approximately $13.5 billion, which the company topped. “We had an excellent finish to 2018 with the best organic sales growth in a decade, and strong adjusted earnings performance. Our multi-year momentum reflects the strength of our diversified model, progress on globalization and outstanding people and culture. We are well positioned to deliver for our customers, employees and shareholder...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured MassDevice Earnings Roundup Wall Street Beat Stryker Source Type: news