Stryker Q3 Earnings Up, But Misses Estimates

(RTTNews) - Stryker Corp. (SYK) reported that its third quarter earnings climbed to $816 million or $2.14 per share from $438 million or $1.14 per share in the prior year.

Adjusted earnings were $810 million or $2.12 per share, compared to $842 million or $2.20 per share last year.

Net sales for the quarter rose 7.7% to $4.48 billion from $4.16 billion a year ago. Organic net sales increased 9.9% including 10.6% from increased unit volume partially offset by 0.7% from lower prices.

Analysts on average had expected the company to earn $2.23 per share on revenues of $4.46 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Looking ahead, the company now expects net sales to be adversely impacted by about 4% and adjusted net earnings per share to be adversely impacted by about $0.35 to $0.40 in the full year.

The company now expects full year adjusted net earnings per share in the range of $9.15 to $9.25.