Stryker reported 7.7% organic sales growth in the third quarter of 2026, with higher volumes driving gains in both its MedSurg and Neurotechnology and Orthopaedics businesses. Adjusted earnings per share rose 10.3%, although reported earnings fell. Chief Executive Kevin Lobo said the results were good in absolute terms but below the company’s expectations; he said Stryker expects a solid fourth quarter and good momentum heading into 2027.
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Sales reached $6.5 billion, up 7.7% from a year earlier. Organic sales also grew 7.7%, primarily on increased unit volume. Currency had no effect on total reported growth.
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MedSurg and Neurotechnology sales were $3.7 billion, up 9.2% as reported and 9.1% organically. The small difference reflects acquisitions and divestitures.
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Orthopaedics sales were $2.9 billion, up 5.7% as reported and 5.9% in constant currency and organically. Currency reduced reported growth by 0.2 percentage point.
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Adjusted operating margin increased 60 basis points to 26.2%. Reported operating margin was 15.9%.
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Adjusted diluted earnings per share rose 10.3% to $3.52. Reported diluted earnings per share fell 11.7% to $1.96.
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Reported net earnings were $753 million, down 12.3%. Stryker said reported earnings included charges and other items, including acquisition and integration costs, amortization of acquired intangible assets, structural optimization charges, impairments, and regulatory, legal and tax matters.
The contrast between adjusted and reported results reflects the effect of items included in reported earnings but excluded from the adjusted measures. Stryker’s sales growth came from higher volumes across both reported business segments, while management acknowledged that the quarter fell short of its expectations.