Companies /Healthcare

Stryker Corp

NYSE: SYK Medical Devices
$330.68
â–² $8.56 (+2.66%) today
Markets closed · 4:27pm ET

Q1 2026 Earnings

Reported Apr 30, 2026, 4:07pm ET · SEC source
$2.60
Beat +14.54%
EPS · est. $2.27
$6.0B
Miss −4.89%
Revenue · est. $6.3B
−4.6%
Trailing market
SYK vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%Apr 30May 1report 4:07pm ETearnings+0.1%−4.1%
−3%0+3%Apr 30May 1earnings+0.1%−4.1%
SYK −4.1%S&P 500 +0.1%
−3%0+3%Apr 30May 1report 4:07pm ETearnings+0.9%−4.1%
−3%0+3%Apr 30May 1earnings+0.9%−4.1%
SYK −4.1%NASDAQ +0.9%
−6%−3%0+3%Apr 29May 8report 4:07pm ETearnings+2.5%−7.6%
−6%−3%0+3%Apr 29May 8earnings+2.5%−7.6%
SYK −7.6%S&P 500 +2.5%
−5%0+5%Apr 29May 8report 4:07pm ETearnings+6.4%−7.6%
−5%0+5%Apr 29May 8earnings+6.4%−7.6%
SYK −7.6%NASDAQ +6.4%
−6.47%
Day of report
−1.31%
Next session
−3.14%
One week
+0.09%
30 days

S&P 500 over the same 30 days: +4.66%.

Did SYK Beat Earnings? Q1 2026 Results

Stryker delivered a disappointing start to fiscal 2026, missing Wall Street expectations on both revenue and earnings as a cybersecurity incident and sweeping restructuring charges weighed heavily on results. The medical device giant posted adjusted EPS of $2.60 for Q1 2026, falling 12.86% short of the $2.98 consensus estimate and snapping a four-quarter streak of beating analyst forecasts, while revenue of $6.02 billion trailed expectations by 4.89% despite rising 2.6% year over year. CEO Kevin Lobo pointed to the March cybersecurity incident as a meaningful headwind, compounding the impact of $118.00 million in structural optimization charges, nearly three times the prior-year level, as Stryker simultaneously reorganized its segments and wound down sales relationships in certain international markets. Adjusted operating margin contracted to 21.1% from 22.9% a year ago, though operating cash flow more than doubled to $581.00 million. Management held firm on full-year 2026 guidance, maintaining organic sales growth of 8.0% to 9.5% and adjusted EPS of $14.90 to $15.10, framing Q1 as an aberration rather than a trend.

Key Takeaways
  • Organic net sales growth of 2.4% driven by 2.1% unit volume increase and 0.3% pricing
  • Vascular segment grew 27.5% aided by Inari acquisition
  • Trauma and Extremities grew 9.5% as reported
  • Instruments grew 9.9% as reported
  • Orthopaedics organic growth of 4.1% from increased unit volume
  • Operating cash flow more than doubled year-over-year to $581 million

“I am pleased with our team's ability to recover quickly from the cyber incident and continue delivering for our customers and their patients. We remain committed to meeting our full year guidance for organic sales growth and adjusted earnings per share as our underlying business momentum remains strong.”

Stryker CEO, on the earnings call

Forward Guidance & Outlook

Stryker is maintaining its full-year 2026 guidance of organic net sales growth in the range of 8.0% to 9.5% and adjusted net earnings per diluted share in the range of $14.90 to $15.10. Sales guidance includes a modestly positive pricing impact. Foreign exchange is expected to have a slightly favorable impact on both sales and adjusted EPS should rates hold near current levels.

SYK YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$2.0B$4.0B$6.0B$5.9B$6.0BRevenue$3.7B$3.8BGross Profit$1.2B$936.0MOperating Income$654.0M$745.0MNet Income
$0$2.0B$4.0B$6.0BRevenueGross ProfitOperating IncomeNet Income

SYK Revenue by Segment

MedSurg and Neurotechnology$3.2B+5.0%
Orthopaedics$2.8B+0.1%
Medical$902.0M−4.6%
Endoscopy$868.0M+0.1%
Trauma and Extremities$1.0B+9.5%
Instruments$920.0M+9.9%
Knees$670.0M+4.7%
Other Orthopaedics$646.0M+4.8%

SYK Revenue by Geography

United States$4.5B+0.8%
Rest of World$1.5B+8.3%

Figures from SEC filings and company reports. Not investment advice.