🏢 官网IRSYKCodex · 实盘不做把握 6/10
北京时间·🕒 发布 07-31 04:05:00(美东 07-30 16:05)·⟳ 抓取 07-31 04:07:27 +2m27s·⚡ 决策 08-01 07:32:09 +1d03h·87.6 天前
史赛克发布2026年二季度业绩并收窄全年指引
公司二季度销售额66亿美元、同比增长9.4%,调整后EPS同比增长17.9%,经营数据本身偏正面。
📄 原文SYK↗ 原文
Stryker reports second quarter 2026 operating results
Portage, Michigan, July 30, 2026 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK) reported operating results for the second quart…
不做 史赛克(SYK.US)
常规财报偏正面但缺少明确超预期上修,且当前已过财报后首个完整美股交易日,短线反应窗口基本结束,不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-07-30 · 扩散 medium · price-in 风险 high ↗
关键理由
- 公司二季度销售额66亿美元、同比增长9.4%,调整后EPS同比增长17.9%,经营数据本身偏正面。
- 全年指引只是收窄至有机收入增长8.3%至9.3%、调整后EPS 14.95至15.10美元,正文没有披露明显高于市场预期的新上修。
- 事件在2026-07-30美股盘后发布,截至当前2026-07-31美股收盘后已过完整交易日,短线财报反应窗口已基本消化。
主要风险
- 若实际盘后电话会披露了超出新闻稿的订单、机器人手术或网络事件恢复超预期信息,需由新信号单独重判。
- 医疗器械龙头市值较大,常规季度业绩改善若无明显超预期,短线弹性有限。
反向证据
- 做多前查反向 · 来源 filing · 日期 2026-07-30 · 影响 weakens
新闻稿仅披露收窄全年指引,未在正文中给出明显上调或超市场预期的证据。
检索:Stryker 2026 Q2 guidance consensus surprise 原文 ↗
原文全文
展开原文 · 8,000 字
Portage, Michigan, July 30, 2026 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK) reported operating results for the second quarter of 2026:
Second Quarter Results
- Reported net sales increased 9.4% to $6.6 billion
- Organic net sales increased 9.0%
- Reported operating income margin of 25.2%
- Adjusted operating income margin(1) increased 170 bps to 27.4%
- Reported EPS increased 44.1% to $3.30
- Adjusted EPS(1) increased 17.9% to $3.69
| | Second Quarter Net Sales Growth Overview |
| | Reported | | Foreign Currency Exchange | | Constant Currency | | Acquisitions / Divestitures | | Organic |
| MedSurg and Neurotechnology | 9.7 | % | | 0.5 | % | | 9.2 | % | | — | % | | 9.2 | % |
| Orthopaedics | 9.1 | | | 0.4 | | | 8.7 | | | 0.1 | | | 8.6 | |
| Total | 9.4 | % | | 0.4 | % | | 9.0 | % | | — | % | | 9.0 | % |
“We made significant progress in our recovery from the cyber incident, delivering strong growth in sales, earnings per share and operating cash flow in the second quarter,” said Kevin A. Lobo, Chair and CEO. “As we have seen in the past, the resilience of our teams when faced with challenges was once again on display. With our steady cadence of innovation and disciplined operational execution, we enter the second half of 2026 with regained momentum and remain confident in our ability to grow at the high end of MedTech.”
Sales Analysis
Consolidated net sales of $6.6 billion increased 9.4% in the quarter and 9.0% in constant currency. Organic net sales increased 9.0% in the quarter from increased unit volume.
MedSurg and Neurotechnology net sales of $3.6 billion increased 9.7% in the quarter and 9.2% in constant currency. Organic net sales increased 9.2% in the quarter including 9.1% from increased unit volume and 0.1% from higher prices.
Orthopaedics net sales of $3.0 billion increased 9.1% in the quarter and 8.7% in constant currency. Organic net sales increased 8.6% in the quarter from increased unit volume.
Earnings Analysis
Reported net earnings of $1.3 billion increased 44.3% in the quarter. Reported net earnings per diluted share of $3.30 increased 44.1% in the quarter. Reported gross profit margin and reported operating income margin were 68.3% and 25.2% in the quarter. Reported net earnings include certain items, such as charges for acquisition and integration-related activities, the amortization of purchased intangible assets, structural optimization and other special charges, goodwill and other impairments, costs to comply with certain medical device regulations, recall-related matters, regulatory and legal matters and tax matters. Excluding the aforementioned items, adjusted gross profit margin(1) was 66.0% in the quarter, and adjusted operating income margin(1) was 27.4% in the quarter. Adjusted net earnings(1) of $1.4 billion increased 17.6% in the quarter. Adjusted net earnings per diluted share(1) of $3.69 increased 17.9% in the quarter.
2026 Outlook
We are narrowing our full year 2026 guidance and now expect organic net sales growth(2) in the range of 8.3% to 9.3% and adjusted net earnings per diluted share(2) in the range of $14.95 to $15.10. Our sales guidance includes a modestly positive pricing impact. Additionally, foreign exchange is expected to have a slightly favorable impact on both sales and adjusted net earnings per diluted share(2) should rates hold near current levels.
(1) A reconciliation of the non-GAAP financial measures: adjusted gross profit margin, adjusted operating income and adjusted operating income margin, adjusted net earnings and adjusted net earnings per diluted share, to the most directly comparable GAAP measures: gross profit margin, operating income and operating income margin, net earnings and net earnings per diluted share, and other important information accompanies this press release.
(2) We are unable to present a quantitative reconciliation of our expected net sales growth to expected organic net sales growth as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of acquisitions and divestitures and the impact of foreign currency exchange rates. We are unable to present a quantitative reconciliation of our expected net earnings per diluted share to expected adjusted net earnings per diluted share as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of structural optimization and other special charges, acquisition-related expenses and the outcome of certain regulatory, legal and tax matters. The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to our Consolidated Statements of Earnings.
Conference Call on Thursday, July 30, 2026
As previously announced, we will host a conference call on Thursday, July 30, 2026 at 4:30 p.m., Eastern Time, to discuss our operating results for the quarter ended June 30, 2026 and provide an operational update.
Please register for this conference call at: https://stryker-2q2026-earnings.open-exchange.net. After registering, a confirmation will be sent via email, including dial-in details and unique conference call access codes required for call entry. Registration is open throughout the live call. To ensure you are connected prior to the beginning of the call, we suggest registering a minimum of 15 minutes before the start of the call.
A simultaneous webcast of the call will be accessible via the Investor Relations page of our website at www.stryker.com. For those not planning to ask a question of management, we recommend listening via the webcast. Please allow 15 minutes to register, download and install any necessary software.
Following the conference call, a replay will be available on our website up to one year from the time of the earnings call.
Caution Concerning Forward-Looking Statements
This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such risks and uncertainties include, but are not limited to: weakening of economic conditions, or the anticipation thereof, that could adversely affect the level of demand for our products; geopolitical risks, including from tariffs and the potential for further changes in trade policies and international conflicts, which have led to and could continue to lead to, among other things, increased market volatility; pricing pressures generally, including cost-containment measures that have adversely affected and could in the future adversely affect the price of or demand for our products; changes in foreign currency exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect approval of new products by the United States Food and Drug Administration and foreign regulatory agencies; inflationary pressures; increased interest rates or interest rate volatility; supply chain disruptions; changes in labor markets; changes in coverage and reimbursement levels from third-party payors; changes in the competitive environment; breaches, failures or other disruptions of our or our vendors’ or customers’ information technology systems or products resulting from cyber-attack, data leakage, unauthorized access or theft, including the cybersecurity incident first reported on March 11, 2026; a significant increase in product liability claims; the ultimate total cost with respect to recall-related and other regulatory and quality matters; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; changes in tax laws and regulations; the impact of legislation to reform the healthcare system in the United States or other countries; costs to comply with medical device regulations; changes in financial markets;
Second Quarter Results
- Reported net sales increased 9.4% to $6.6 billion
- Organic net sales increased 9.0%
- Reported operating income margin of 25.2%
- Adjusted operating income margin(1) increased 170 bps to 27.4%
- Reported EPS increased 44.1% to $3.30
- Adjusted EPS(1) increased 17.9% to $3.69
| | Second Quarter Net Sales Growth Overview |
| | Reported | | Foreign Currency Exchange | | Constant Currency | | Acquisitions / Divestitures | | Organic |
| MedSurg and Neurotechnology | 9.7 | % | | 0.5 | % | | 9.2 | % | | — | % | | 9.2 | % |
| Orthopaedics | 9.1 | | | 0.4 | | | 8.7 | | | 0.1 | | | 8.6 | |
| Total | 9.4 | % | | 0.4 | % | | 9.0 | % | | — | % | | 9.0 | % |
“We made significant progress in our recovery from the cyber incident, delivering strong growth in sales, earnings per share and operating cash flow in the second quarter,” said Kevin A. Lobo, Chair and CEO. “As we have seen in the past, the resilience of our teams when faced with challenges was once again on display. With our steady cadence of innovation and disciplined operational execution, we enter the second half of 2026 with regained momentum and remain confident in our ability to grow at the high end of MedTech.”
Sales Analysis
Consolidated net sales of $6.6 billion increased 9.4% in the quarter and 9.0% in constant currency. Organic net sales increased 9.0% in the quarter from increased unit volume.
MedSurg and Neurotechnology net sales of $3.6 billion increased 9.7% in the quarter and 9.2% in constant currency. Organic net sales increased 9.2% in the quarter including 9.1% from increased unit volume and 0.1% from higher prices.
Orthopaedics net sales of $3.0 billion increased 9.1% in the quarter and 8.7% in constant currency. Organic net sales increased 8.6% in the quarter from increased unit volume.
Earnings Analysis
Reported net earnings of $1.3 billion increased 44.3% in the quarter. Reported net earnings per diluted share of $3.30 increased 44.1% in the quarter. Reported gross profit margin and reported operating income margin were 68.3% and 25.2% in the quarter. Reported net earnings include certain items, such as charges for acquisition and integration-related activities, the amortization of purchased intangible assets, structural optimization and other special charges, goodwill and other impairments, costs to comply with certain medical device regulations, recall-related matters, regulatory and legal matters and tax matters. Excluding the aforementioned items, adjusted gross profit margin(1) was 66.0% in the quarter, and adjusted operating income margin(1) was 27.4% in the quarter. Adjusted net earnings(1) of $1.4 billion increased 17.6% in the quarter. Adjusted net earnings per diluted share(1) of $3.69 increased 17.9% in the quarter.
2026 Outlook
We are narrowing our full year 2026 guidance and now expect organic net sales growth(2) in the range of 8.3% to 9.3% and adjusted net earnings per diluted share(2) in the range of $14.95 to $15.10. Our sales guidance includes a modestly positive pricing impact. Additionally, foreign exchange is expected to have a slightly favorable impact on both sales and adjusted net earnings per diluted share(2) should rates hold near current levels.
(1) A reconciliation of the non-GAAP financial measures: adjusted gross profit margin, adjusted operating income and adjusted operating income margin, adjusted net earnings and adjusted net earnings per diluted share, to the most directly comparable GAAP measures: gross profit margin, operating income and operating income margin, net earnings and net earnings per diluted share, and other important information accompanies this press release.
(2) We are unable to present a quantitative reconciliation of our expected net sales growth to expected organic net sales growth as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of acquisitions and divestitures and the impact of foreign currency exchange rates. We are unable to present a quantitative reconciliation of our expected net earnings per diluted share to expected adjusted net earnings per diluted share as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of structural optimization and other special charges, acquisition-related expenses and the outcome of certain regulatory, legal and tax matters. The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to our Consolidated Statements of Earnings.
Conference Call on Thursday, July 30, 2026
As previously announced, we will host a conference call on Thursday, July 30, 2026 at 4:30 p.m., Eastern Time, to discuss our operating results for the quarter ended June 30, 2026 and provide an operational update.
Please register for this conference call at: https://stryker-2q2026-earnings.open-exchange.net. After registering, a confirmation will be sent via email, including dial-in details and unique conference call access codes required for call entry. Registration is open throughout the live call. To ensure you are connected prior to the beginning of the call, we suggest registering a minimum of 15 minutes before the start of the call.
A simultaneous webcast of the call will be accessible via the Investor Relations page of our website at www.stryker.com. For those not planning to ask a question of management, we recommend listening via the webcast. Please allow 15 minutes to register, download and install any necessary software.
Following the conference call, a replay will be available on our website up to one year from the time of the earnings call.
Caution Concerning Forward-Looking Statements
This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such risks and uncertainties include, but are not limited to: weakening of economic conditions, or the anticipation thereof, that could adversely affect the level of demand for our products; geopolitical risks, including from tariffs and the potential for further changes in trade policies and international conflicts, which have led to and could continue to lead to, among other things, increased market volatility; pricing pressures generally, including cost-containment measures that have adversely affected and could in the future adversely affect the price of or demand for our products; changes in foreign currency exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect approval of new products by the United States Food and Drug Administration and foreign regulatory agencies; inflationary pressures; increased interest rates or interest rate volatility; supply chain disruptions; changes in labor markets; changes in coverage and reimbursement levels from third-party payors; changes in the competitive environment; breaches, failures or other disruptions of our or our vendors’ or customers’ information technology systems or products resulting from cyber-attack, data leakage, unauthorized access or theft, including the cybersecurity incident first reported on March 11, 2026; a significant increase in product liability claims; the ultimate total cost with respect to recall-related and other regulatory and quality matters; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; changes in tax laws and regulations; the impact of legislation to reform the healthcare system in the United States or other countries; costs to comply with medical device regulations; changes in financial markets;
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