Stryker has reported a net income of $834m, or $2.16 per diluted share, for the third quarter ended 30 September 2024, a 20.5% rise compared to $692m, or $1.80 per diluted share, for the same period in 2023.
The medical technology company’s net income for the third quarter of 2024 (Q3 2024) increased by 1% compared to $825m for the second quarter of 2024 (Q2 2024)
Stryker reported net sales of $5.49bn for Q3 2024, an 11.9% rise compared to $4.9bn for the same quarter in 2023, and a 1.2% increase compared to $5.42bn for Q2 2024.
The company’s total operating expenses for the reported period were $2.43bn, which increased by 9.2% compared to $2.22bn for the same quarter in 2023.
Stryker reported an income before tax of $1.04bn for Q3 2024, a 20% rise compared to $869m for the respective quarter in the previous year.
Stryker chair and CEO Kevin Lobo said: “We delivered another strong quarter across our businesses and geographies and are on track to achieve our adjusted operating margin expansion goals.
“Our product innovation and acquisitions will help to sustain our growth at the high end of MedTech.”
Stryker reported a net income of $2.44bn, or $6.35 per diluted share, for the first nine months (9M) ended 30 September 2024, a 21% increase compared to $2.02bn, or $5.27 per diluted share, for the respective period in 2023.
The company reported net sales of $16.15bn for the 9M 2024, a 10.1% rise compared to $14.68bn for the same period in the previous year.
Its total operating expenses for 9M 2024 were $7.15bn, a 6.5% increase compared to $6.72bn for the corresponding nine months in 2023.
The medical technology company reported an income before tax of $2.96bn for 9M 2024, a 21.1% rise compared to $2.44bn for the same period in 2023.
Last month, Stryker completed the acquisition of NICO, which provides a systematic approach to minimally invasive surgery for tumour and ICH procedures.
