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Stryker releases fourth-quarter, year-end 2018 results and 2019 outlook
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Stryker released its fourth-quarter and full-year 2018 results, as well as its 2019 outlook.
According to the Stryker press release, its 2018 sales analysis showed orthopedic net sales of $1.4 billion and $5 billion increased 5.9% and 6.4% in the quarter and full year, respectively, and 7% and 5.9%, respectively, in constant currency. Organic net sales increased 7% and 5.9% in the quarter and full year, respectively, including 8.9% and 8.1% from increased unit volume partially offset by 1.9% and 2.2% from lower prices.
Additionally, Stryker reported that neurotechnology and spine net sales of $0.7 billion and $2.6 billion increased 20.1% and 18.6% in the quarter and full year, respectively, and 21.4% and 18% in constant currency. Organic net sales increased 8.4% and 10.6% in the quarter and full year, respectively, including 10.2% and 12.2% from increased unit volume, partially offset by 1.8% and 1.6% from lower prices.
“We had an excellent finish to 2018 with the best organic sales growth in a decade and strong adjusted earnings performance,” Kevin A. Lobo, chairman and CEO of Stryker, said in the press release. “Our multiyear 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 shareholders in 2019 and beyond.”
Reported net earnings of $2.1 billion and $3.6 billion increased 930.5% and 248.3% in the quarter and full year, respectively, according to the release. Net earnings per diluted share of $5.44 and $9.34 increased 924.2% and 248.5% in the quarter and full year, respectively. Adjusted net earnings per diluted share of $2.18 and $7.31 increased 11.2% and 12.6% in the quarter and full year, respectively.
Stryker expects 2019 organic net sales growth to be in the range of 6.5% to 7.5%, according to its report, and expect adjusted net earnings per diluted share to be in the range of $8 to $8.20.
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