Stryker reports third-quarter operating results for 2018

Stryker announced its third-quarter 2018 operating results.

“We had another impressive quarter, as our talented teams continue to deliver strong results and execute on acquisitions,” Kevin A. Lobo, Stryker chair and CEO, said in a press release. “The strength of our operating model and culture is evident in the consistency of our performance over time, and we remain optimistic about the future.”

According to the release, the $3.2 billion in consolidated net sales increased 8.8% in the third quarter and 9.8% in constant currency. There was a 7.9% increase in organic net sales that included 9.5% from increased unit volume, which was partially offset by 1.6% from lower prices.

In the quarter, orthopedics net sales of $1.2 billion increased 4% and increased 5% in constant currency. Organic sales increased 5% and included 7.6% from increased unit volume, which was partially offset by 2.6% from lower prices. There was a 17.4% increase in the neurotechnology and spine net sales of $0.6 billion, with an 18.3% increase in constant currency. In the third quarter, there was a 11.9% increase in the organic net sales. This included 13.5% from increased unit volume, which was partially offset by 1.6% from lower prices.

There was a 35.9% increase in the reported net earnings of $590 million. Reported net earnings per diluted share of $1.55 increased 36%.

Stryker anticipates the 2018 organic net sales growth to be between 7% and 7.5% and the adjusted net earnings per diluted share to be between $7.25 and $7.30. The company expects net earnings per diluted share in the fourth quarter to be between $2.13 and $2.18.

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