Stryker Earnings: Here’s Why Investors are Happy Now
Stryker Corp. (NYSE:SYK) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.06%.
Stryker Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.04% to $1.03 in the quarter versus EPS of $0.99 in the year-earlier quarter.
Revenue: Rose 1.34% to $2.19 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Stryker Corp. reported adjusted EPS income of $1.03 per share. By that measure, the company beat the mean analyst estimate of $1.01. It missed the average revenue estimate of $2.2 billion.
Quoting Management: “We delivered solid sales and earnings performance, and expect this momentum to continue throughout 2013,” commented Kevin A. Lobo, President and Chief Executive Officer.
Key Stats (on next page)…
Revenue decreased 6.33% from $2.34 billion in the previous quarter. EPS decreased 9.65% from $1.14 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $1.04 and has not changed. For the current year, the average estimate has moved up from a profit of $4.31 to a profit of $4.33 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)