Stryker Corporation reported strong financial performance for the third quarter of 2024, with net sales reaching $5,494 million, a significant increase from $4,909 million in the same quarter of 2023. For the nine months ending September 30, 2024, net sales totaled $16,159 million, up from $14,683 million in the prior year.
The company's gross profit for Q3 2024 was $3,517 million, representing 64.0% of net sales, slightly down from 64.3% in Q3 2023, where gross profit was $3,158 million. For the nine-month period, gross profit increased to $10,266 million from $9,355 million in 2023. Operating income for Q3 2024 was $1,085 million, or 19.7% of net sales, compared to $931 million (19.0% of net sales) in Q3 2023. Year-to-date operating income rose to $3,108 million from $2,631 million in the previous year.
Net earnings for Q3 2024 were reported at $834 million, translating to $2.16 per diluted share, an increase from $692 million ($1.80 per diluted share) in Q3 2023. For the nine months, net earnings reached $2,447 million ($6.35 per diluted share), up from $2,022 million ($5.27 per diluted share) in the same period last year.
Cash provided by operating activities for the nine months of 2024 was $2,311 million, an increase from $2,183 million in 2023. However, cash used in investing activities saw a significant rise, totaling $(2,697) million compared to $(810) million in the prior year. In financing activities, Stryker reported cash provided of $1,269 million, a turnaround from cash used of $(1,308) million in the same nine-month period of 2023.
As of September 30, 2024, Stryker's total assets increased to $43,833 million from $39,912 million at the end of 2023. Retained earnings also grew to $18,303 million, up from $16,771 million, while total shareholders' equity rose to $20,149 million from $18,593 million as of December 31, 2023.
These results reflect Stryker's robust market position and operational efficiency, contributing to its overall financial health and growth trajectory.
About STRYKER CORP
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