Stryker's spine, orthopedic sales hit $2.1B in Q4: 6 insights

Spinal Tech

Stryker posted $4.7 billion in fourth-quarter net sales, with full-year sales increasing 19.2 percent to $17.1 billion compared to 2020.

Six insights from the company's fourth-quarter financial report, published Jan. 27:

1. In the fourth quarter, orthopedics and spine net sales increased 12.5 percent year over year to $2.1 billion. Full-year net sales were $7.6 billion, representing a 26 percent increase compared with 2020 and an 18.1 percent increase compared with 2019.

2. Fourth-quarter medsurg and neurotechnology net sales increased 8.7 percent year over year to $2.6 billion. Net sales in 2021 were $9.5 billion, a 14.3 percent increase compared with 2020 and a 12.6 percent increase compared with 2019.

3. Stryker's reported net earnings of $662 million in the fourth quarter and $2 billion for 2021 increased 16.5 percent and 24.7 percent, respectively.

4. Organic net sales growth in 2022 is expected to be in the range of 6 to 8 percent, the company said.

5. Stryker continues to assess the effect the COVID-19 pandemic will have on its operations and financial results but said the "short-term outlook remains volatile."

6. "We delivered a strong year of financial results, despite the ongoing challenges of the pandemic," said Kevin Lobo, chair and CEO. "Organic sales growth of over 7 percent versus 2019, coupled with double-digit adjusted [earnings per share] growth and excellent cash flow performance were all noteworthy achievements, as was the excellent integration of Wright Medical. We continue to be well-positioned for future growth."

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