Stryker Earnings: Exceeds Wall Street Analyst Estimates
Stryker Corp. (NYSE:SYK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Stryker Corp. Earnings Cheat Sheet
Results: Net income decreased -32.67% to $270 million (71 cents per diluted share) in the quarter versus a net gain of $401 million in the year-earlier quarter.
Revenue: Rose 5.64% to $2.34 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Stryker Corp. reported adjusted net income of $1.14 per share. By that measure, the company beat the mean analyst estimate of $1.13. It beat the average revenue estimate of $2.27 billion.
Quoting Management: “We are pleased with our fourth quarter results and look to build on this momentum in 2013,” commented Kevin A. Lobo, President and Chief Executive Officer…
Revenue increased 14.04% from $2.05 billion in the previous quarter. Net income decreased 23.51% from $353 million in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.05 to a profit $1.03. For the current year, the average estimate is a profit of $4.06, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials.)