The massive GAAP EPS miss and weak organic growth (2.4% vs 8.0-9.5% guidance) create significant credibility risk. The maintained guidance implies a dramatic acceleration in the remaining three quarters — watch for pre-announcements or guidance cuts. The cyber incident impact and Spinal Implants collapse warrant deeper investigation. Expect negative price reaction at open.
Price Chart
Executive Summary
Stryker reported Q1 2026 GAAP EPS of $1.93 (vs consensus $2.98, a 35.2% miss) and adjusted EPS of $2.60 (down 8.5% YoY). Revenue of $6.02B missed the $6.33B consensus by 4.9%, with organic sales growth of only 2.4% — well below the 8.0-9.5% full-year guidance. The company maintained its full-year guidance despite the weak quarter, citing a quick recovery from a cyber incident, but the headline numbers represent a significant miss on both top and bottom lines.
Key Financial Metrics
Key Facts
- Reported GAAP EPS of $1.93 missed consensus of $2.98 by 35.2%
- Adjusted EPS of $2.60 declined 8.5% YoY
- Revenue of $6.02B missed consensus of $6.33B by 4.9%
- Organic net sales growth of only 2.4% vs full-year guidance of 8.0-9.5%
- Adjusted operating margin contracted 180 bps to 21.1%
- Full-year 2026 guidance maintained: organic sales growth 8.0-9.5%, adjusted EPS $14.90-$15.10
- Spinal Implants revenue collapsed 98.9% YoY to $2M (likely due to Inari acquisition restructuring)
- Vascular segment grew 27.5% reported, but Medical segment declined 4.6%
Financial Impact
EPS miss of $1.05 vs consensus on GAAP basis; revenue miss of ~$310M; adjusted EPS down 8.5% YoY
Risk Factors
- Full-year guidance appears unrealistic given Q1 organic growth of 2.4% vs 8.0-9.5% target
- Cyber incident may have lingering operational impacts beyond Q1
- Spinal Implants business effectively zeroed out — restructuring risk
- Adjusted operating margin compression of 180 bps signals cost headwinds
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3285455 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 4w ago | Press Release | $317.40 $275.39 | ▼ −13.24% | ▼ −13.55% | $275.08 (−13.33%) |
Aug 26, 2026 5w ago | Insider Cluster | $329.67 $274.19 | ▼ −16.83% | ▼ −18.03% | $275.08 (−16.56%) |
Aug 20, 2026 6w ago | Insider Cluster | $327.70 $280.13 | ▼ −14.52% | ▼ −14.52% | $275.08 (−16.06%) |
Jul 13, 2026 11w ago | Court Ruling | $331.45 $345.81 | ▲ +4.33% | ▲ +1.15% | $275.08 (−17.01%) |
Jul 9, 2026 12w ago | ANALYST-UPGRADE | $327.11 $337.43 | ▲ +3.15% | ▲ +0.91% | $275.08 (−15.91%) |
Jun 26, 2026 13w ago | 8-K | $332.71 $318.97 | ▼ −4.13% | ▼ −5.39% | $275.08 (−17.32%) |
Jun 17, 2026 15w ago | Court Ruling | $301.14 $331.20 | ▲ +9.98% | ▲ +8.66% | $275.08 (−8.65%) |
May 29, 2026 17w ago | Insider Cluster | $299.24 $330.52 | ▲ +10.45% | ▲ +12.77% | $275.08 (−8.07%) |
May 29, 2026 17w ago | Insider Cluster | $299.24 $330.52 | ▲ +10.45% | ▲ +12.77% | $275.08 (−8.07%) |
Apr 30, 2026 22w ago | Press Release | $293.78 $299.24 | ▼ −1.86% | ▲ +3.41% | $275.08 (+6.36%) |
US Market Status
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