By Paul Ziobro
Stryker cut its adjusted profit outlook for the year due to an expected $200 million hit from tariffs.
The Portage, Mich.-based medical technology company on Thursday reported a first-quarter profit of $654 million, or $1.69 a share, compared with $788 million, or $2.05 a share, in the same quarter a year earlier.
Adjusted earnings were $2.84 a share. Analysts polled by FactSet expected $2.71 a share.
Sales rose 11.9% to $5.87 billion, ahead of the $5.69 billion expected by analysts. MedSurg and Neurotechnology sales rose 13.4% while Orthopaedics sales rose 9.7%.
Profit in the quarter fell due to higher expenses.
Stryker lowered its outlook for adjusted earnings per share to between $13.20 and $13.45 from its prior range of between $13.45 and $13.70, citing the expected tariff impact, which it said reflects its best estimate based on current information.
The company also raised its sales outlook for the year, now expecting organic sales growth between 8.5% and 9.5%, up from its prior range between 8% and 9%.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
May 01, 2025 16:41 ET (20:41 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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