Stryker CorporationSYK posted Q3 adjusted EPS of $2.12, down 3.6% Y/Y, missing the consensus of $2.23.
The ortho device giant clocked nearly $4.48 billion in sales, up 7.7%, almost in line with the consensus of $4.47 billion.
“We delivered strong organic sales growth in the quarter, despite product shortages and disruptions to full return of surgeries,” CEO Kevin Lobo said in a news release.
“Worsening foreign currency and ongoing inflation, including premiums on spot buys for key components, pressured our adjusted earnings and will impact our full-year results. We are taking additional actions to address these persistent issues.”
Guidance: Stryker expects FY22 revenue growth of 8.5–9%, with adjusted EPS of $9.15-$9.25 vs. the consensus of $9.36.
During Stryker’s Q2 earnings report, the projection was revenue growth of 8–9%, with adjusted EPS of $9.30-$9.50.
Price Action: SYK shares are down 5.78% at $216 premarket on the last check Tuesday.
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