NYSE$SYK
Stryker Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Stryker reported strong Q4 2023 results, with significant increases in net sales and EPS.
Stryker reported an 11.8% increase in net sales to $5.8 billion and a 102.7% increase in EPS to $2.98 for Q4 2023. Organic net sales grew by 11.4%. The company surpassed $20 billion in sales for the full year and expects continued growth in 2024.
- Net sales increased by 11.8% to $5.8 billion.
- Organic net sales increased by 11.4%.
- Reported EPS increased by 102.7% to $2.98.
- Adjusted EPS increased by 15.3% to $3.46.
Headline financials
Revenue & EPS history
Stryker · Revenue · Quarterly
$5.82B
Revenue by segment
Stryker · $1.53B total across 1 segment · Q3 2021
- Orthopaedics$1.53B+16.1%100.0%
Forward guidance
Stryker expects 2024 organic net sales growth to be in the range of 7.5% to 9.0% and adjusted net earnings per diluted share to be in the range of $11.70 to $12.00.
Tailwinds
- Momentum from 2023
- Strong procedural volumes
- Healthy demand for capital products
- Stabilizing macro-economic environment
- Steady progress of pricing actions
Headwinds
- Sales will be modestly unfavorably impacted by foreign exchange rates for the full year, being more negative in the first half of the year.
- Adjusted net earnings per diluted share will be negatively impacted by foreign exchange rates approximately $0.05 to $0.10.
- We are unable to present a quantitative reconciliation of our expected net sales growth to expected organic net sales growth as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of acquisitions and divestitures and the impact of foreign currency exchange rates.
- We are unable to present a quantitative reconciliation of our expected net earnings per diluted share to expected adjusted net earnings per diluted share as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of structural optimization and other special charges, acquisition-related expenses and the outcome of certain regulatory, legal and tax matters.
- The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to our Consolidated Statements of Earnings.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.7%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+1.7%
Avg return
30 days after
58%
42 / 73 earnings
Positive
+11.8%
Q4 2022
Best reaction
-6.3%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | -7.2% | -3.0% | |
| Q4 2025 | +2.6% | +1.8% | +9.4% | |
| Q3 2025 | -3.0% | -3.1% | +0.6% | |
| Q2 2025 | +0.0% | -0.4% | +3.6% | |
| Q1 2025 | +1.0% | +2.7% | +2.3% | |
| Q4 2024 | -2.2% | -2.2% | -2.8% | |
| Q3 2024 | +2.1% | +3.1% | +9.0% | |
| Q2 2024 | -1.7% | -0.5% | +7.4% | |
| Q1 2024 | -3.2% | -3.1% | +0.5% | |
| Q4 2023 | +6.7% | +8.8% | +11.0% | |
| Q3 2023 | +1.5% | +1.1% | +9.5% | |
| Q2 2023 | +3.3% | +2.8% | +3.6% | |
| Q1 2023 | -1.9% | -5.0% | -8.0% | |
| Q4 2022 | +11.8% | +13.5% | +5.0% | |
| Q3 2022 | -4.0% | -8.0% | +2.0% | |
| Q2 2022 | +5.1% | +6.6% | +7.5% | |
| Q1 2022 | -3.2% | -4.5% | -5.1% | |
| Q4 2021 | +0.1% | +0.1% | +7.1% | |
| Q3 2021 | -0.9% | +1.5% | -9.3% | |
| Q2 2021 | +2.0% | +2.8% | +2.9% | |
| Q1 2021 | -2.1% | -1.0% | -4.1% | |
| Q4 2020 | -3.4% | -4.8% | +2.0% | |
| Q3 2020 | -1.4% | +1.6% | +13.6% | |
| Q2 2020 | -4.0% | -6.0% | -1.6% | |
| Q1 2020 | -6.3% | -2.5% | +1.6% | |
| Q4 2019 | -1.8% | -1.8% | -9.2% | |
| Q3 2019 | +1.6% | -0.4% | -4.1% | |
| Q2 2019 | +0.4% | +0.0% | +0.2% | |
| Q1 2019 | +1.6% | +3.4% | +1.3% | |
| Q4 2018 | +10.7% | +9.5% | +16.4% | |
| Q3 2018 | -1.7% | -0.7% | +1.0% | |
| Q2 2018 | -2.7% | -3.2% | -3.0% | |
| Q1 2018 | +3.2% | +2.2% | +5.1% | |
| Q4 2017 | -2.6% | -3.9% | -5.6% | |
| Q3 2017 | +6.4% | +3.1% | +3.0% | |
| Q2 2017 | +1.4% | +1.5% | -4.0% | |
| Q1 2017 | +1.3% | +1.4% | +4.8% | |
| Q4 2016 | -0.2% | +3.3% | +3.6% | |
| Q3 2016 | +4.0% | +4.5% | +2.7% | |
| Q2 2016 | -4.4% | -4.8% | -7.0% | |
| Q1 2016 | -0.4% | — | — | |
| Q4 2015 | +4.4% | — | — | |
| Q3 2015 | -5.4% | — | — | |
| Q2 2015 | +2.5% | — | — | |
| Q1 2015 | +3.3% | — | — | |
| Q4 2014 | +0.2% | — | — | |
| Q3 2014 | +1.0% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | -1.1% | — | — | |
| Q4 2013 | -1.0% | — | — | |
| Q3 2013 | +2.7% | — | — | |
| Q2 2013 | +2.2% | — | — | |
| Q1 2013 | +1.1% | — | — | |
| Q4 2012 | +2.8% | — | — | |
| Q3 2012 | +0.3% | — | — | |
| Q2 2012 | -2.9% | — | — | |
| Q1 2012 | +2.2% | — | — | |
| Q4 2011 | -0.0% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q2 2011 | -0.3% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q4 2010 | +1.9% | — | — | |
| Q3 2010 | +2.3% | — | — | |
| Q2 2010 | -0.7% | — | — | |
| Q1 2009 | -1.1% | — | — | |
| Q1 2010 | +0.2% | — | — | |
| Q4 2009 | +1.9% | — | — | |
| Q4 2007 | +1.9% | — | — | |
| Q3 2008 | +2.9% | — | — | |
| Q3 2009 | +2.9% | — | — | |
| Q2 2009 | +5.1% | — | — | |
| Q2 2008 | +5.1% | — | — | |
| Q4 2008 | +5.1% | — | — |
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