KALAMAZOO — Stryker Corp. raised its sales and earnings guidance for 2019 after what President and CEO Kevin Lobo called a “robust” second quarter.
The Kalamazoo-based Stryker now expects organic sales growth of 8.5 percent for the full year with earnings of $8.15 to $8.25 per share. The third quarter should produce earnings of $1.87 to $1.92 per share, Stryker said Thursday after releasing quarterly results.
Stryker previously expected sales growth of 6.8 percent to 7.5 percent for 2019 and earnings of $8.05 to $8.20 per share.
The higher guidance came as the maker of orthopedic implants, medical and surgical devices and equipment reported $3.65 billion in sales for the second quarter, up nearly 10 percent from the same period a year earlier.
Stryker recorded $480 million in quarterly net income, or $1.26 per diluted share, up from $452 million, or $1.19 per diluted share, in the second quarter of 2018. Adjusted earnings per share totaled $1.98, according to the company.
“As you can see, we had a very strong Q2 results and strong momentum going into the back half of the year,” Lobo told brokerage analysts in a Thursday afternoon conference call to discuss quarterly results.
“The durability of our growth is evidenced by continued strength across our businesses and regions, as well as our revised full-year outlook,” he said. “We also continue to benefit from investments in R&D, acquisitions, sales and marketing, which translate into healthy product pipelines and strong commercial execution.
“That, combined with our talented employees and culture of performance, positions us well to sustain high growth going forward.”
Stryker’s midyear sales grew 9.2 percent to $7.16 billion with net income of $895 million.
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