Stryker reports $5 billion in sales in second-quarter 2023 financial results
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Key takeaways:
- Stryker reported $5 billion in consolidated net sales in its second-quarter 2023 financial results.
- Net sales increased 11.2% compared with the second quarter of 2022.
Stryker reported consolidated net sales of $5 billion in the second quarter of 2023, which was $503 million, or 11.2%, more than in the second quarter of 2022, according to a press release.
Organic net sales increased 11.9%, which was 11.4% from higher unit volume and 0.5% from higher prices. MedSurg and neurotechnology accounted for $2.9 billion in sales, and orthopedics and spine accumulated $2.1 billion in the quarter.
The company reported net earnings of $738 million for the quarter, and net earnings per diluted share of $1.93, a 12.5% and 12.2% increase, respectively.
“We delivered strong organic sales growth in the second quarter as demand for our products remains strong,” Kevin A. Lobo, chair and CEO of Stryker, said in the release. “We are back on our margin expansion pathway, and our supercycle of innovation is going well,” Lobo added.
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