Stryker Swings to 2Q Profit as Pandemic Moderated

 

Stryker Corp. on Tuesday reported a profit in the second quarter, after a loss in the same period of 2020, as sales jumped while the pandemic moderated. The Kalamazoo, Mich.-based medical technology company reported net profit of $592 million in the quarter, after a loss of $83 million in the same period a year earlier, while net sales rose 55.4% from the second quarter of last year to $4.3 billion. The company's reported net earnings per diluted share reached $1.55, compared with a loss of $0.22 per share a year earlier, while adjusted net earnings per diluted share rose to $2.25 from $0.64 in the second quarter of 2020. Stryker said it expects organic net sales growth for this year of 9% to 10% compared with 2019 and the company expects adjusted net earnings per diluted share to be in the range of $9.25 to $9.40 in 2021. https://www.marketscreener.com/quote/stock/STRYKER-CORPORATION-14536/news/Stryker-Swings-to-2Q-Profit-as-Pandemic-Moderated-35980900/