Stryker reported 8.5 net sales growth in the first quarter of 2019.
Six things to know:
1. Net sales hit $3.5 billion for the quarter, and orthopedics net sales was up 2.8 percent to $1.3 billion. Organic net sales were up 5 percent, including the 7.1 percent increase in unit volume.
2. Neurotechnology and spine sales were up 20.7 percent to $700 million. The organic net sales increased 7.8 percent in the quarter, including a 8.9 percent unit volume increase. Spine sales were driven by a 38.6 percent sales increase in the U.S.; the neurotechnology sales were up 16.1 percent at $465 million.
3. Knee sales were up 4.9 percent, hitting $439 million for the quarter. Hip sales were up 1.5 percent to $336 million while trauma and extremities increased 1.7 percent to $396 million. U.S. knee sales were up 4.9 percent and hips were up 1.5 percent.
4. Earnings hit $412 million; a 7 percent drop over the same period last year.
5. Stryker expects organic net sales growth will be 6.8 percent to 7.5 percent, with expected adjusted net earnings per diluted share hitting $8.05 to $8.20.
6. U.S. sales were up 11.5 percent to $2.5 billion while international sales increased 1.1 percent to $937 million.