By Dean Seal
Stryker, a medical technology company based in Kalamazoo, Mich., is scheduled to announce its second-quarter earnings after the market closes on Thursday.
Profit Expectations
According to FactSet, analysts are anticipating a profit of $796 million, or $2.02 per share, for the quarter. This represents an increase from $656 million, or $1.72 per share, in the same period last year.
Adjusted Earnings
In addition to profit figures, adjusted earnings are expected to reach $2.38 per share, after excluding any one-time items.
Sales Projections
FactSet also predicts that the company’s sales will rise from $4.49 billion to $4.83 billion for the quarter.
Key Areas of Interest
Investors will be closely monitoring several factors during Stryker’s earnings release:
Order Book Strength
The update on the strength of Stryker’s order book for capital equipment will be of particular importance. This factor played a role in the company’s decision, made three months ago, to revise its 2023 outlook.
Supply Chain Improvement
Investors will be seeking signs of further improvement in supply chain pressures. Stryker’s Chief Executive, Kevin Lobo, previously noted that these pressures have been gradually easing.
Orthopedics and Spine Growth
Stryker experienced a 14% organic growth in its orthopedics and spine division during the first quarter, primarily due to a recovery in procedure volumes. The market will be interested in seeing if these volumes continue to rebound during the second quarter.