Stryker Swings to Loss on Tax Hit, Beats Wall Street Expectations -- Earnings Review

By FeaturesDow Jones Newswires

Stryker Corp. (SYK) reported its fourth-quarter results after the close of trading Tuesday. Here's what you need to know:

PROFIT: The medical-device maker swung to a loss in the quarter. Stryker reported a net loss of $249 million, or 66 cents a share, compared with a profit of $510 million, or $1.34 a share, for the same quarter a year before. Stryker reported $898 million of income tax expense in the quarter, compared with $78 million a year earlier.

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Adjusted earnings were $1.96 a share, slightly beating the consensus estimate of $1.95 from analysts polled by Thomson Reuters.

REVENUE: Revenue rose roughly 10% to $3.47 billion, ahead of the consensus forecast of $3.4 billion.

GUIDANCE: For 2018, the company forecast adjusted per-share earnings of $7.07 to $7.17, compared with $6.49 in 2017. Analysts had modeled per-share earnings at $7.12. The company expects organic sales growth to be in the range of 6% to 6.5% in 2018.

STOCK MOVE: Shares, up 38% over the last year, fell 3.2% to $163 in after-hours trading.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

January 30, 2018 17:02 ET (22:02 GMT)

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