WASHINGTON (dpa-AFX) - Stryker (SYK) announced, for the second quarter, the company expects adjusted net earnings per diluted share to be in the range of $1.90 to $1.95. The company noted that if foreign currency exchange rates hold near current levels, second-quarter net sales will be negatively impacted by approximately 1.5% and net earnings per share will be negatively impacted by $0.01 to $0.03. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.96, for the quarter. Analysts' estimates typically exclude special items.
The company now expects 2019 organic net sales growth to be in the range of 6.8% to 7.5% and projects adjusted net earnings per diluted share to be in the range of $8.05 to $8.20. If foreign currency exchange rates hold near current levels, the company expects full year net sales will be negatively impacted by approximately 1.0%, and earnings per share to be negatively impacted by $0.05 to $0.10. Analysts polled by Thomson Reuters expect the company to report profit per share of $8.13, for the fiscal year.
For the first-quarter, adjusted net earnings per diluted share was $1.88, up 11.9% from prior year. On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $1.84 for the quarter.
For the first-quarter, consolidated net sales were $3.5 billion, an increase of 8.5% from prior year, or up 10.6% in constant currency. Organic net sales rose 7.3% in the quarter. Analysts expected revenue of $3.52 billion for the quarter.
Shares of Stryker were down more than 3% after hours.
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