Q1 2026 Stryker Corp Earnings Call Transcript
Key Points
- Stryker Corp (SYK) maintained its full-year guidance despite the cyber incident, indicating confidence in its recovery and market position.
- The company reported a record Q1 for Mako installations both in the US and internationally, with high utilization rates.
- Stryker Corp (SYK) announced the acquisition of Amplitude Vascular Systems, which is expected to expand its presence in the cardiovascular space.
- The launch of the new Ortho Tech business aims to simplify customer experience and accelerate innovation in the orthopedic segment.
- International sales growth was strong, with a 3.9% increase, driven by solid fundamentals and market positioning.
- A cyber incident caused significant disruption to Stryker Corp (SYK)'s operations, impacting sales and manufacturing absorption.
- Adjusted earnings per share decreased by 8.5% from the previous year, primarily due to the cyber incident and increased interest expenses.
- The company's adjusted gross margin fell by 190 basis points compared to the first quarter of 2025, reflecting lost manufacturing absorption and tariffs.
- The Middle East conflict had a modest effect on international growth, although the overall impact was limited.
- The cyber incident led to delays in revenue recognition and shipment disruptions, affecting the timing of sales recovery throughout the year.
Welcome to the First Quarter 2026 Stryker Earnings Call. My name is Megan, and I'll be your operator for today's call. (Operator Instructions) This conference call is being recorded for replay purposes.
Before we begin, I would like to remind you that the discussions during this conference call will include forward-looking statements. Factors that could cause actual results to differ materially are discussed in the company's most recent filings with the SEC. Also, the discussions will include certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures can be found today in today's press conference release that is an exhibit to Stryker's current report on Form 8-K filed today with the SEC.
I will now turn the call over to Mr. Kevin Lobo, Chair and Executive Officer. You may proceed, sir.
Welcome to Stryker's first quarter earnings call. Joining me today are Preston Wells, Stryker's CFO; and Jason Beach, Vice President of
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