Stryker Lowers Outlook After 3Q Profit Falls

Dow Jones04:24

Stryker cut its sales outlook after third-quarter results fell short of internal expectations.

The medical-devices company said it now expects full-year sales growth to be 6.5% to 7%, down from its prior range of 8.3% to 9.3% growth. It lowered its guidance for adjusted earnings per share to $14.80 to $14.90, down from $14.95 to $15.10.

While third-quarter results reflected good performance, they were below management's expectations, Chief Executive Kevin Lobo said. The company is still expecting solid performance in the current fourth quarter and momentum heading into 2027, Lobo said.

Shares fell 7.6% to $288 in after-hours trading.

Third-quarter profit fell to $753 million, or $1.96 a share, compared with $859 million, or $2.22 a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $3.52, behind the $3.55 anticipated by analysts, according to FactSet.

Revenue rose 7.7% to $6.52 billion. Analysts surveyed by FactSet forecast revenue of $6.62 billion.

Sales in Stryker's MedSurg and Neurotechnology segment rose 9.2%, while Orthopaedics revenue increased 5.7%.

Earlier this year, Stryker was hit with a cyberattack that dented sales. Boston Scientific, a medical technology peer, also posted lower-than-expected results this week.

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