Medical technology company Stryker Corporation (NYSE: SYK) announced operating results for the first quarter of 2023, reporting higher sales and profit.
- First-quarter net sales increased 11.8% from last year to $4.8 billion; organic net sales increased by 13.6%
- The operating income margin, on an unadjusted basis, was 15.4%
- Adjusted operating income margin declined 70 basis points annually to 21.1%
- Earnings, including special items, rose sharply to $592 million or $1.54 per share $323 million or $0.84 per share
- On an adjusted basis, earnings were $2.14 per share, up from $1.97 per share reported last year
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