SYK · 10-Q · 2026Q2

STRYKER CORP

Filed 2026-07-31 · Healthcare · View original filing on EDGAR

Ranked Events

• Restructuring ChargesImportance 71 · Surprise 82
  Structural optimization and other special charges totaled $193 million in the first six months of 2026 versus $21 million in the prior-year period, and $89 million in the second quarter versus $2 million previously.…
• Cash Flow and Capital AllocationImportance 70 · Surprise 56
  Operating cash flow increased to $1,842 million in the first six months of 2026 from $1,361 million, primarily due to changes in working-capital accounts. Investing cash use declined to $824 million from $4,240…
• Operating Income and MarginsImportance 64 · Surprise 56
  Second-quarter operating income increased to $1,659 million from $1,113 million, and operating margin expanded to 25.2% from 18.5%. Six-month operating income increased to $2,595 million from $1,950 million, with…
• Gross Margin DriversImportance 62 · Surprise 58
  Second-quarter gross profit increased to $4,498 million from $3,841 million, and gross margin expanded to 68.3% from 63.8%. The 450-basis-point quarterly improvement included a 260-basis-point benefit from reversal of…
• Trade Policy and TariffsImportance 53 · Surprise 60
  Stryker reported that a reduction in certain import tariffs increased gross margin during the three and six months ended June 30, 2026. The company recorded a $158 million reversal of 2025 tariffs in both periods,…
• Acquisition / Partnership / DivestitureImportance 53 · Surprise 60
  Stryker acquired Inari during the first six months of 2026, and the transaction generated $139 million of share-based compensation for Inari employees whose awards vested upon the acquisition. Investing cash outflows…
• Market Demand TrendsImportance 49 · Surprise 32
  Consolidated net sales increased 9.4% year over year in the second quarter of 2026, or 9.0% in constant currency, driven by higher unit volume and product shipments. MedSurg and Neurotechnology sales grew 9.7% as…
• Operating Expense TrendsImportance 49 · Surprise 32
  Research, development and engineering expense increased 6.6% in the second quarter to approximately $435 million and 4.3% in the first half to approximately $841 million, while expense ratios remained near 6.6% and…
• Revenue Performance and MixImportance 49 · Surprise 32
  Second-quarter 2026 net sales increased 9.4% year over year to $6,589 million, including 9.0% constant-currency growth driven by higher unit volume and a 0.4% foreign-exchange benefit. Six-month net sales increased…
• Supply Chain and Cybersecurity ImpactImportance 47 · Surprise 60
  Stryker reported higher manufacturing and supply chain costs during the first six months of 2026, primarily because of idle production time related to the cybersecurity incident in the first quarter. The impact was…
• Geographic Market CommentaryImportance 43 · Surprise 32
  U.S. sales increased 8.9% in the second quarter and 4.9% for the first six months of 2026. International sales grew faster, increasing 11.0% in the quarter and 9.7% year to date on a reported basis, or 9.2% and 5.3% in…
• Balance Sheet and LiquidityImportance 41 · Surprise 22
  Cash, cash equivalents, short-term investments, and marketable securities totaled $3,476 million at June 30, 2026, down from $4,100 million at December 31, 2025. Current assets exceeded current liabilities by $7,734…
• Income Tax Rate ChangesImportance 40 · Surprise 56
  The effective tax rate increased to 18.4% in the second quarter of 2026 from 13.0% and to 16.3% for the first six months from 13.6%. The year-over-year increase primarily reflects a prior-year tax benefit related to…

Revenue by Product (in millions)