Stryker releases 2020 fourth-quarter operating results, 2021 outlook
Despite a decrease in 2020 full-year net sales, Stryker reported an increase in 2020 fourth-quarter net sales and remains optimistic about the company’s direction in 2021, according a press release.
Stryker reported $4.3 billion in net sales in the fourth quarter of 2020, a 3.2% increase in the quarter, which brought the company to $14.4 billion in net sales for the full year. This represents a 3.6% decrease from the previous year.
Similarly, orthopedics net sales reached $1.5 billion in the fourth quarter of 2020, a 4% increase in the quarter, bringing the company to $5 billion in net sales for the year. This represents a 5.6% decrease from the previous year.
In addition, the company reported an increase of 12.9% in adjusted earnings per share to $2.81 in the fourth quarter of 2020 and a decrease of 10% in adjusted earnings per share to $7.43 for the full year, according to the release.
“In spite of COVID-19 outbreaks that intensified through the quarter, our teams showed good resilience and delivered a solid quarter of financial results,” Kevin Lobo, chair and CEO of Stryker, said in the release. “As we saw with prior pandemic spikes, the impacts were strongest in the businesses linked to deferrable procedures, but as evidenced by our guidance for 2021, we are optimistic about our prospects for the future. The Wright Medical integration is off to a strong start and we continue to advance innovation across the company. On behalf of the Stryker leadership team, I would like to offer my thanks to our employees and to the caregivers and first responders for their efforts in continuing to deal with this health crisis,” Lobo added.