Stryker beats by $0.26, misses on revs; guides FY21 EPS in-line (230.75 -7.25)
- Reports Q4 (Dec) earnings of $2.81 per share, $0.26 better than the S&P Capital IQ Consensus of $2.55; revenues rose 3.2% year/year to $4.26 bln vs the $4.33 bln S&P Capital IQ Consensus.
- Co issues in-line guidance for FY21, sees EPS of $8.80-9.20 vs. $9.12 S&P Capital IQ Consensus.
- "We continue to monitor and evaluate the impact the global response to the COVID-19 pandemic has had, and will continue to have, on our operations and financial results. As we recover from the pandemic, we expect 2021 organic net sales growth to be in the range of 8% to 10% from 2019, as this is a more normal baseline given the variability throughout 2020, and expect adjusted net earnings per diluted share to be in the range of $8.80 to $9.20. This includes the previously announced 10 cents of dilution driven by the acquisition of Wright Medical for the full year. Consistent with the pricing environment experienced in both 2019 and 2020, we expect continued unfavorable price reductions of approximately 1% in 2021."