Stryker's 2020 Outlook Beats Wall Street Targets -- Earnings Review
January 28 2020 - 3:42PM
Dow Jones News
By Maria Armental
Stryker Corp. reported fourth-quarter and full-year results on
Tuesday. Here's what you need to know:
PROFIT: Net income dropped to $725 million, or $1.90 a share
from the $2.07 billion, or $5.44 a share reported a year earlier.
The year-ago results had a $1.5 billion non-cash tax benefit. On an
adjusted basis, profit rose to $2.49 a share from $2.18 a share a
year earlier. Analysts surveyed by FactSet expect $2.23 a share, or
$2.46 a share on an adjusted basis. Stryker had projected $2.43 to
$2.48 a share in adjusted profit.
REVENUE: Net sales rose to $4.13 billion from $3.8 billion a
year earlier. Analysts expected $4.11 billion.
OUTLOOK: This year, the company expects $9 to $9.20 a share in
adjusted profit and net sales, excluding the impact of currency
movements and acquisitions, to increase 6.5% to 7.5%. Analysts
expect a roughly 7% revenue increase this year and for adjusted
profit to reach $9.03 a share.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 28, 2020 16:27 ET (21:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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