Form 8-K

8-K — STRYKER CORP

Accession: 0000310764-26-000059

Filed: 2026-10-29

Period: 2026-10-29

CIK: 0000310764

SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — syk-20261029.htm (Primary)

EX-99.1 (sykex991earningsq32026.htm)

GRAPHIC (syk-20261029_g1.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: syk-20261029.htm · Sequence: 1

syk-20261029

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2026

STRYKER CORPORATION

(Exact name of registrant as specified in its charter)

Michigan 001-13149 38-1239739

(State of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

1941 Stryker Way Portage, Michigan 49002

(Address of principal executive offices) (Zip Code)

(269) 385-2600

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $.10 Par Value SYK New York Stock Exchange

2.125% Notes due 2027 SYK27 New York Stock Exchange

3.375% Notes due 2028 SYK28 New York Stock Exchange

0.750% Notes due 2029 SYK29 New York Stock Exchange

2.625% Notes due 2030 SYK30 New York Stock Exchange

1.000% Notes due 2031 SYK31 New York Stock Exchange

3.375% Notes due 2032 SYK32 New York Stock Exchange

3.625% Notes due 2036 SYK36 New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Stryker Corporation issued a press release on October 29, 2026 announcing its third quarter 2026 operating results. A copy of this press release is attached hereto as Exhibit 99.1.

The information furnished in this report, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

99.1

Stryker reports third quarter 2026 operating results, press release dated October 29, 2026

104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STRYKER CORPORATION

(Registrant)

Date: October 29, 2026 /s/ PRESTON W. WELLS

Preston W. Wells

Vice President, Chief Financial Officer

EX-99.1

Filename: sykex991earningsq32026.htm · Sequence: 2

Document

Exhibit 99.1

STRYKER REPORTS THIRD QUARTER 2026 OPERATING RESULTS

Portage, Michigan - October 29, 2026 - Stryker (NYSE:SYK) reported operating results for the third quarter of 2026:

Third Quarter Results

•Reported net sales increased 7.7% to $6.5 billion

•Organic net sales increased 7.7%

•Reported operating income margin of 15.9%

•Adjusted operating income margin(1) increased 60 bps to 26.2%

•Reported EPS decreased 11.7% to $1.96

•Adjusted EPS(1) increased 10.3% to $3.52

Third Quarter Net Sales Growth Overview

Reported Foreign Currency Exchange Constant Currency Acquisitions / Divestitures Organic

MedSurg and Neurotechnology 9.2 % — % 9.2 % 0.1 % 9.1 %

Orthopaedics 5.7 (0.2) 5.9 — 5.9

Total 7.7 % — % 7.7 % — % 7.7 %

“We delivered 7.7% organic sales growth and double-digit adjusted earnings growth in the quarter,” said Kevin A. Lobo, Chair and CEO. “While, in absolute terms, this reflected good overall performance, it did fall short of our expectations. The underlying fundamentals of the business remain strong, and we expect a solid performance in Q4 and good momentum heading into 2027.”

Sales Analysis

Consolidated net sales of $6.5 billion increased 7.7% in the quarter on both a reported and constant currency basis. Organic net sales increased 7.7% in the quarter primarily driven by increased unit volume.

MedSurg and Neurotechnology net sales of $3.7 billion increased 9.2% in the quarter on both a reported and constant currency basis. Organic net sales increased 9.1% in the quarter primarily driven by increased unit volume.

Orthopaedics net sales of $2.9 billion increased 5.7% in the quarter and 5.9% in constant currency. Organic net sales increased 5.9% in the quarter from increased unit volume.

Earnings Analysis

Reported net earnings of $753 million decreased 12.3% in the quarter. Reported net earnings per diluted share of $1.96 decreased 11.7% in the quarter. Reported gross profit margin and reported operating income margin were 65.2% and 15.9% in the quarter. Reported net earnings include certain items, such as charges for acquisition and integration-related activities, the amortization of purchased intangible assets, structural optimization and other special charges, goodwill and other impairments, costs to comply with certain medical device regulations, recall-related matters, regulatory and legal matters and tax matters. Excluding the aforementioned items, adjusted gross profit margin(1) was 65.4% in the quarter, and adjusted operating income margin(1) was 26.2% in the quarter. Adjusted net earnings(1) of $1.4 billion increased 10.1% in the quarter. Adjusted net earnings per diluted share(1) of $3.52 increased 10.3% in the quarter.

Share Repurchases

We repurchased $1.0 billion of our common stock in the third quarter of 2026.

In October 2026 our Board of Directors approved an increase of $3.0 billion to our existing share repurchase program. The manner, timing and amount of repurchases are determined by management based on an evaluation of market conditions, stock price, and other factors and are subject to regulatory considerations. Purchases may be made from time to time in the open market, in privately negotiated transactions, accelerated share repurchase programs or otherwise.

2026 Outlook

We are updating our full year 2026 guidance and now expect organic net sales growth(2) in the range of 6.5% to 7.0% and adjusted net earnings per diluted share(2) to be in the range of $14.80 to $14.90. Our sales guidance includes a modestly positive pricing impact. Additionally, foreign exchange is expected to have a slightly favorable impact on both sales and adjusted net earnings per diluted share(2) should rates hold near current levels.

(1) A reconciliation of the non-GAAP financial measures: adjusted gross profit margin, adjusted operating income and adjusted operating income margin, adjusted net earnings and adjusted net earnings per diluted share, to the most directly comparable GAAP measures: gross profit margin, operating income and operating income margin, net earnings and net earnings per diluted share, and other important information accompanies this press release.

(2) We are unable to present a quantitative reconciliation of our expected net sales growth to expected organic net sales growth as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of acquisitions and divestitures and the impact of foreign currency exchange rates. We are unable to present a quantitative reconciliation of our expected net earnings per diluted share to expected adjusted net earnings per diluted share as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of structural optimization and other special charges, acquisition-related expenses and the outcome of certain regulatory, legal and tax matters. The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to our Consolidated Statements of Earnings.

Conference Call on Thursday, October 29, 2026

As previously announced, we will host a conference call on Thursday, October 29, 2026 at 4:30 p.m., Eastern Time, to discuss our operating results for the quarter ended September 30, 2026 and provide an operational update.

Please register for this conference call at: https://stryker-3q2026-earnings.open-exchange.net. After registering, a confirmation will be sent via email, including dial-in details and unique conference call access codes required for call entry. Registration is open throughout the live call. To ensure you are connected prior to the beginning of the call, we suggest registering a minimum of 15 minutes before the start of the call.

A simultaneous webcast of the call will be accessible via the Investor Relations page of our website at www.stryker.com. For those not planning to ask a question of management, we recommend listening via the webcast. Please allow 15 minutes to register, download and install any necessary software.

Following the conference call, a replay will be available on our website up to one year from the time of the earnings call.

Caution Concerning Forward-Looking Statements

This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such risks and uncertainties include, but are not limited to: weakening of economic conditions, or the anticipation thereof, that could adversely affect the level of demand for our products; geopolitical risks, including from tariffs and the potential for further changes in trade policies and international conflicts, which have led to and could continue to lead to, among other things, increased market volatility; pricing pressures generally, including cost-containment measures that have adversely affected and could in the future adversely affect the price of or demand for our products; changes in foreign currency exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect approval of new products by the United States Food and Drug Administration and foreign regulatory agencies; inflationary pressures; increased interest rates or interest rate volatility; supply chain disruptions; changes in labor markets; changes in coverage and reimbursement levels from third-party payors; changes in the competitive environment; breaches, failures or other disruptions of our or our vendors’ or customers’ information technology systems or products resulting from cyber-attack, data leakage, unauthorized access or theft, including the cybersecurity incident first reported on March 11, 2026; a significant increase in product liability claims; the ultimate total cost with respect to recall-related and other regulatory and quality matters; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; changes in tax laws and regulations; the impact of legislation to reform the healthcare system in the United States or other countries; costs to comply with medical device regulations; changes in financial markets; changes in our credit ratings; our ability to integrate and realize the anticipated benefits of acquisitions in full or at all or within the expected timeframes; our ability to realize any anticipated cost savings; risks relating to climate change or other environmental, social and governance and sustainability related matters; and the impact on our operations and financial results of any public health emergency and any related policies and actions by governments or other third parties. Additional information concerning these and other factors is contained in our filings with the United States Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We disclaim any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that affect the likelihood that actual results will differ from those contained in the forward-looking statements, except to the extent required by law.

Stryker is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at www.stryker.com.

For investor inquiries:

Nick Mead, Vice President, Investor Relations at 269-385-2600 or nick.mead@stryker.com

For media inquiries:

Kim Montagnino, Vice President, Chief Communications Officer at 269-385-2600 or kim.montagnino@stryker.com

STRYKER CORPORATION

For the Three and Nine Months September 30

(Unaudited - Millions of Dollars, Except Per Share Amounts)

CONSOLIDATED STATEMENTS OF EARNINGS

Three Months Nine Months

2026 2025 % Change 2026 2025 % Change

Net sales $ 6,520 $ 6,057 7.7 % $ 19,129 $ 17,945 6.6 %

Cost of sales 2,272 2,205 3.0 6,573 6,508 1.0

Gross profit $ 4,248 $ 3,852 10.3 % $ 12,556 $ 11,437 9.8 %

% of sales 65.2 % 63.6 % 65.6 % 63.7 %

Research, development and engineering expenses 433 410 5.6 1,280 1,222 4.7

Selling, general and administrative expenses 2,313 2,045 13.1 6,823 6,424 6.2

Amortization of intangible assets 175 189 (7.4) 530 543 (2.4)

Goodwill and other impairments 293 73 nm 294 163 nm

Total operating expenses $ 3,214 $ 2,717 18.3 % $ 8,927 $ 8,352 6.9 %

Operating income $ 1,034 $ 1,135 (8.9) % $ 3,629 $ 3,085 17.6 %

% of sales 15.9 % 18.7 % 19.0 % 17.2 %

Other income (expense), net (37) (106) (65.1) (218) (276) (21.0)

Earnings before income taxes $ 997 $ 1,029 (3.1) % $ 3,411 $ 2,809 21.4 %

Income taxes 244 170 43.5 637 412 54.6

Net earnings $ 753 $ 859 (12.3) % $ 2,774 $ 2,397 15.7 %

Net earnings per share of common stock:

Basic $ 1.97 $ 2.25 (12.4) % $ 7.24 $ 6.27 15.5 %

Diluted $ 1.96 $ 2.22 (11.7) % $ 7.19 $ 6.20 16.0 %

Weighted-average shares outstanding (in millions):

Basic 382.2 382.4 382.9 382.1

Diluted 384.7 386.7 385.8 386.5

CONDENSED CONSOLIDATED BALANCE SHEETS

September 30 December 31

2026 2025

Assets

Cash and cash equivalents $ 3,271 $ 4,011

Marketable securities — 89

Accounts receivable, net 3,693 4,039

Inventories 5,747 5,310

Prepaid expenses and other current assets 1,472 1,306

Total current assets $ 14,183 $ 14,755

Property, plant and equipment, net 4,054 3,876

Goodwill and other intangibles, net 24,868 24,972

Noncurrent deferred income tax assets 901 1,098

Other noncurrent assets 3,241 3,143

Total assets $ 47,247 $ 47,844

Liabilities and shareholders' equity

Current liabilities $ 6,500 $ 7,794

Long-term debt, excluding current maturities 14,176 14,859

Income taxes 413 402

Other noncurrent liabilities 2,701 2,369

Shareholders' equity 23,457 22,420

Total liabilities and shareholders' equity $ 47,247 $ 47,844

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine Months

2026 2025

Operating activities

Net earnings $ 2,774 $ 2,397

Depreciation 361 334

Amortization of intangible assets 530 543

Changes in operating assets, liabilities, income taxes payable and other, net (362) (373)

Net cash provided by operating activities $ 3,303 $ 2,901

Investing activities

Acquisitions, net of cash acquired $ (481) $ (4,950)

Proceeds/(Purchases) of short-term investments — 750

Purchases of property, plant and equipment (605) (493)

Other investing, net 75 132

Net cash used in investing activities $ (1,011) $ (4,561)

Financing activities

Borrowings (payments) of debt, net $ (753) $ 2,330

Payments of dividends (1,012) (963)

Repurchases of common stock (1,000) —

Other financing, net (233) (161)

Net cash provided by (used in) financing activities $ (2,998) $ 1,206

Effect of exchange rate changes on cash and cash equivalents (34) 58

Change in cash and cash equivalents $ (740) $ (396)

STRYKER CORPORATION

For the Three and Nine Months September 30

(Unaudited - Millions of Dollars)

SALES GROWTH ANALYSIS

Three Months Nine Months

Percentage Change Percentage Change

2026 2025 As Reported Constant Currency 2026 2025 As Reported Constant Currency

MedSurg and Neurotechnology:

Instruments

United States $ 835 $ 797 4.8 % 4.8 % $ 2,441 $ 2,275 7.4 % 7.4 %

International 161 152 6.5 7.1 478 430 11.3 8.8

Total $ 996 $ 949 5.1 % 5.2 % $ 2,919 $ 2,705 8.0 % 7.6 %

Endoscopy

United States $ 839 $ 743 13.0 % 13.0 % $ 2,359 $ 2,195 7.5 % 7.5 %

International 182 153 18.0 18.5 534 467 14.2 11.4

Total $ 1,021 $ 896 13.9 % 14.0 % $ 2,893 $ 2,662 8.7 % 8.2 %

Medical

United States $ 910 $ 827 10.0 % 10.0 % $ 2,602 $ 2,469 5.4 % 5.4 %

International 171 158 8.1 8.5 503 451 11.4 8.2

Total $ 1,081 $ 985 9.7 % 9.8 % $ 3,105 $ 2,920 6.3 % 5.8 %

Vascular

United States $ 320 $ 283 13.0 % 13.0 % $ 850 $ 754 12.7 % 12.7 %

International 246 242 2.1 0.8 729 675 8.0 4.9

Total $ 566 $ 525 8.0 % 7.4 % $ 1,579 $ 1,429 10.5 % 9.0 %

MedSurg and Neurotechnology

United States $ 2,904 $ 2,650 9.6 % 9.6 % $ 8,252 $ 7,693 7.3 % 7.3 %

International 760 705 7.8 7.7 2,244 2,023 10.9 8.0

Total $ 3,664 $ 3,355 9.2 % 9.2 % $ 10,496 $ 9,716 8.0 % 7.4 %

Orthopaedics:

Knees

United States $ 458 $ 452 1.3 % 1.3 % $ 1,418 $ 1,376 3.0 % 3.0 %

International 177 176 0.5 1.1 580 531 9.3 6.6

Total $ 635 $ 628 1.1 % 1.2 % $ 1,998 $ 1,907 4.8 % 4.0 %

Hips

United States $ 277 $ 279 (0.6) % (0.6) % $ 849 $ 831 2.2 % 2.2 %

International 176 178 (1.7) (0.8) 543 535 1.4 (0.6)

Total $ 453 $ 457 (1.0) % (0.7) % $ 1,392 $ 1,366 1.9 % 1.1 %

Trauma and Extremities

United States $ 735 $ 703 4.5 % 4.5 % $ 2,293 $ 2,118 8.2 % 8.2 %

International 275 257 7.5 8.4 824 744 10.9 7.9

Total $ 1,010 $ 960 5.3 % 5.5 % $ 3,117 $ 2,862 8.9 % 8.1 %

Ortho Tech

United States $ 576 $ 487 18.1 % 18.1 % $ 1,573 $ 1,429 10.0 % 10.0 %

International 178 164 9.0 9.5 544 488 11.6 9.3

Total $ 754 $ 651 15.8 % 16.0 % $ 2,117 $ 1,917 10.4 % 9.8 %

$ 2,852 $ 2,696 5.8 % 6.0 % $ 8,624 $ 8,052 7.1 % 6.4 %

Spinal Implants

United States $ — $ — — % — % $ — $ 118 (100.0) % (100.0) %

International 4 6 (43.9) (45.4) 9 59 (85.7) (87.1)

Total $ 4 $ 6 (43.9) % (45.4) % $ 9 $ 177 (95.2) % (95.5) %

Orthopaedics

United States $ 2,046 $ 1,921 6.5 % 6.5 % $ 6,133 $ 5,872 4.4 % 4.4 %

International 810 781 3.8 4.5 2,500 2,357 6.1 3.5

Total $ 2,856 $ 2,702 5.7 % 5.9 % $ 8,633 $ 8,229 4.9 % 4.1 %

Geographic:

United States $ 4,950 $ 4,571 8.3 % 8.3 % $ 14,385 $ 13,565 6.0 % 6.0 %

International 1,570 1,486 5.7 6.0 4,744 4,380 8.3 5.6

Total $ 6,520 $ 6,057 7.7 % 7.7 % $ 19,129 $ 17,945 6.6 % 5.9 %

Note: In the first quarter 2026 we announced a change in our organizational structure. Our new Ortho Tech business combines the orthopaedic instruments portfolio (Orthopaedic Instruments) from Instruments with Other Orthopaedics. In addition, Neuro Cranial and the spine enabling technologies portfolio (Enabling Technologies) from Other Orthopaedics were combined with the remaining Instruments business to align with our internal reporting structure. Ortho Tech includes sales related to Orthopaedic Instruments of $535 and $492 and Other Orthopaedics of $219 and $159 for the three months 2026 and 2025. For the nine months 2026 and 2025 Ortho Tech includes sales related to Orthopaedic Instruments of $1,547 and $1,477 and Other Orthopaedics of $570 and $440. Instruments includes sales related to Neuro Cranial of $670 and $637 and Enabling Technologies of $28 and $45 for the three months 2026 and 2025. For the nine months 2026 and 2025 Instruments includes sales related to Neuro Cranial of $1,957 and $1,816 and Enabling Technologies of $82 and $108. We have reflected these changes in all historical periods presented.

SUPPLEMENTAL INFORMATION - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

We supplement the reporting of our financial information determined under accounting principles generally accepted in the United States (GAAP) with certain non-GAAP financial measures, including: percentage sales growth in constant currency; percentage organic sales growth; adjusted gross profit; adjusted selling, general and administrative expenses; adjusted research, development and engineering expenses; adjusted operating income; adjusted other income (expense), net; adjusted income taxes; adjusted effective income tax rate; adjusted net earnings; and adjusted net earnings per diluted share (Diluted EPS). We believe these non-GAAP financial measures provide meaningful information to assist investors and shareholders in understanding our financial results and assessing our prospects for future performance. Management believes percentage sales growth in constant currency and the other adjusted measures described above are important indicators of our operations because they exclude items that may not be indicative of or are unrelated to our core operating results and provide a baseline for analyzing trends in our underlying businesses. Management uses these non-GAAP financial measures for reviewing the operating results of reportable business segments and analyzing potential future business trends in connection with our budget process and bases certain management incentive compensation on these non-GAAP financial measures.

To measure percentage sales growth in constant currency, we remove the impact of changes in foreign currency exchange rates that affect the comparability and trend of sales. Percentage sales growth in constant currency is calculated by translating current and prior year results at the same foreign currency exchange rate. To measure percentage organic sales growth, we remove the impact of changes in foreign currency exchange rates, acquisitions and divestitures, which affect the comparability and trend of sales. Percentage organic sales growth is calculated by translating current year and prior year results at the same foreign currency exchange rates excluding the impact of acquisitions and divestitures. To measure earnings performance on a consistent and comparable basis, we exclude certain items that affect the comparability of operating results and the trend of earnings. The income tax effect of each adjustment was determined based on the tax effect of the jurisdiction in which the related pre-tax adjustment was recorded. These adjustments are irregular in timing and may not be indicative of our past and future performance.

Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. These adjusted financial measures should not be considered in isolation or as a substitute for reported sales growth, gross profit, selling, general and administrative expenses, research, development and engineering expenses, operating income, other income (expense), net, income taxes, effective income tax rate, net earnings and net earnings per diluted share, the most directly comparable GAAP financial measures. These non-GAAP financial measures are an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the reconciliations to corresponding GAAP financial measures below, provide a more complete understanding of our business. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.

The following reconciles the non-GAAP financial measures discussed above with the most directly comparable GAAP financial measures. The weighted-average diluted shares outstanding used in the calculation of adjusted net earnings per diluted share are the same as those used in the calculation of reported net earnings per diluted share for the respective period.

STRYKER CORPORATION

For the Three and Nine Months September 30

(Unaudited - Millions of Dollars, Except Per Share Amounts)

Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measures

Three Months 2026 Gross Profit Selling, General & Administrative Expenses Research, Development & Engineering Expenses Operating Income Other Income (Expense), Net Income Taxes Net Earnings Effective

Tax Rate Diluted EPS

Reported $ 4,248 $ 2,313 $ 433 $ 1,034 $ (37) $ 244 $ 753 24.5 % $ 1.96

Reported percent net sales 65.2 % 35.5 % 6.6 % 15.9 % (0.6) % nm 11.5 %

Acquisition and integration-related costs:

Inventory stepped-up to fair value — — — — — — — — —

Other acquisition and integration-related (a) 6 (5) (6) 17 — 3 14 — 0.04

Amortization of purchased intangible assets — — — 175 — 33 142 0.5 0.37

Structural optimization and other special charges (b) 12 (137) (4) 153 (54) 23 76 0.8 0.20

Goodwill and other impairments (c) — — — 293 — — 293 (4.8) 0.76

Medical device regulations (d) — — (6) 6 — 1 5 — 0.01

Recall-related matters (e) — 4 — (4) — (2) (2) (0.1) —

Regulatory and legal matters (f) — (32) — 32 — 6 26 0.1 0.07

Tax matters (g) — — — — — (50) 50 (5.0) 0.11

Reversal of 2025 tariffs — — — — — — — — —

Adjusted $ 4,266 $ 2,143 $ 417 $ 1,706 $ (91) $ 258 $ 1,357 16.0 % $ 3.52

Adjusted percent net sales 65.4 % 32.8 % 6.4 % 26.2 % (1.4) % nm 20.8 %

Three Months 2025 Gross Profit Selling, General & Administrative Expenses Research, Development & Engineering Expenses Operating Income Other Income (Expense), Net Income Taxes Net Earnings Effective

Tax Rate Diluted EPS

Reported $ 3,852 $ 2,045 $ 410 $ 1,135 $ (106) $ 170 $ 859 16.5 % $ 2.22

Reported percent net sales 63.6 % 33.8 % 6.8 % 18.7 % (1.8) % nm 14.2 %

Acquisition and integration-related costs:

Inventory stepped-up to fair value 61 — — 61 — 15 46 0.6 0.12

Other acquisition and integration-related (a) 5 (33) (1) 39 — 6 33 0.1 0.08

Amortization of purchased intangible assets — — — 189 — 39 150 1.2 0.39

Structural optimization and other special charges (b) 15 (26) — 41 (10) 3 28 (0.1) 0.07

Goodwill and other impairments (c) — — — 73 — 15 58 0.4 0.16

Medical device regulations (d) — — (11) 11 — 3 8 0.1 0.02

Recall-related matters (e) — (1) — 1 — — 1 — —

Regulatory and legal matters (f) — — — — — — — — —

Tax matters (g) — — — — — (50) 50 (4.8) 0.13

Adjusted $ 3,933 $ 1,985 $ 398 $ 1,550 $ (116) $ 201 $ 1,233 14.0 % $ 3.19

Adjusted percent net sales 65.0 % 32.8 % 6.6 % 25.6 % (1.9) % nm 20.4 %

nm - not meaningful

(a) Charges represent certain acquisition and integration-related costs associated with acquisitions, including:

Three Months

2026 2025

Termination of sales relationships $ 1 $ —

Employee retention and workforce reductions 1 11

Changes in the fair value of contingent consideration 1 12

Manufacturing integration costs 17 7

Other integration-related activities (e.g., deal costs and legal entity rationalization) (3) 9

Adjustments to Operating Income $ 17 $ 39

Adjustments to Income Taxes $ 3 $ 6

Adjustments to Net Earnings $ 14 $ 33

(b) Structural optimization and other special charges represent the costs associated with:

Three Months

2026 2025

Employee retention and workforce reductions $ 7 $ 6

Closure/transfer of manufacturing and other facilities (e.g., site closure, contract termination and redundant employee costs) 8 8

Product line exits (e.g., inventory, long-lived asset and specifically-identified intangible asset write-offs) (5) 9

Termination of sales relationships in certain countries 37 2

Spinal Implants sale related 77 9

Other charges 29 7

Adjustments to Operating Income $ 153 $ 41

Adjustments to Other Income (Expense), Net $ (54) $ (10)

Adjustments to Income Taxes $ 23 $ 3

Adjustments to Net Earnings $ 76 $ 28

Three Months

2026 2025

Goodwill impairment $ 293 $ —

Certain long-lived and intangible asset write-offs and impairments — 22

Product line exits (e.g., long-lived asset and specifically-identified intangible asset write-offs) — 51

Adjustments to Operating Income $ 293 $ 73

Adjustments to Income Taxes $ — $ 15

Adjustments to Net Earnings $ 293 $ 58

(d) Charges represent the costs specific to updating our quality system, product labeling, asset write-offs and product remanufacturing to comply with the medical device reporting regulations and other requirements of the new medical device regulations in the European Union.

(e) Charges represent changes in our best estimate of the probable loss, or the minimum of the range of probable losses when a best estimate within a range is not known, to resolve certain recall-related matters.

(f) Charges represent changes in our best estimate of the probable loss, or the minimum of the range of probable losses when a best estimate within a range is not known, to resolve certain regulatory or other legal matters and the amount of favorable awards from settlements.

(g) Benefits / (charges) represent the accounting impact of certain significant and discrete tax items, including:

Three Months

2026 2025

Adjustments related to the transfer of certain intellectual properties between tax jurisdictions $ (56) $ (61)

Other tax matters 6 11

Adjustments to Income Taxes $ (50) $ (50)

Adjustments to Other Income (Expense), Net $ — $ —

Adjustments to Net Earnings $ 50 $ 50

Nine Months 2026 Gross Profit Selling, General & Administrative Expenses Research, Development & Engineering Expenses Operating Income Other Income (Expense), Net Income Taxes Net Earnings Effective

Tax Rate Diluted EPS

Reported $ 12,556 $ 6,823 $ 1,280 $ 3,629 $ (218) $ 637 $ 2,774 18.7 % $ 7.19

Reported percent net sales 65.6 % 35.7 % 6.7 % 19.0 % (1.1) % nm 14.5 %

Acquisition and integration-related costs:

Inventory stepped-up to fair value — — — — — — — — —

Other acquisition and integration-related (a) 15 (32) (14) 61 — 10 51 — 0.14

Amortization of purchased intangible assets — — — 530 — 96 434 0.4 1.12

Structural optimization and other special charges (b) 31 (330) (5) 366 (71) 68 227 0.6 0.59

Goodwill and other impairments (c) — — — 294 — — 294 (1.3) 0.76

Medical device regulations (d) — — (16) 16 — 3 13 — 0.03

Recall-related matters (e) — (8) — 8 — 1 7 — 0.02

Regulatory and legal matters (f) — (38) — 38 — 7 31 — 0.08

Tax matters (g) — — — — — (87) 87 (2.6) 0.22

Reversal of 2025 tariffs (158) — — (158) — (25) (133) — (0.34)

Adjusted $ 12,444 $ 6,415 $ 1,245 $ 4,784 $ (289) $ 710 $ 3,785 15.8 % $ 9.81

Adjusted percent net sales 65.1 % 33.5 % 6.5 % 25.0 % (1.5) % nm 19.8 %

Nine Months 2025 Gross Profit Selling, General & Administrative Expenses Research, Development & Engineering Expenses Operating Income Other Income (Expense), Net Income Taxes Net Earnings Effective

Tax Rate Diluted EPS

Reported $ 11,437 $ 6,424 $ 1,222 $ 3,085 $ (276) $ 412 $ 2,397 14.7 % $ 6.20

Reported percent net sales 63.7 % 35.8 % 6.8 % 17.2 % (1.5) % nm 13.4 %

Acquisition and integration-related costs:

Inventory stepped-up to fair value 160 — — 160 — 39 121 0.5 0.31

Other acquisition and integration-related (a) 19 (280) (3) 302 — 32 270 (0.4) 0.70

Amortization of purchased intangible assets — — — 543 — 112 431 1.2 1.11

Structural optimization and other special charges (b) 43 (47) (3) 93 (19) 15 59 0.2 0.15

Goodwill and other impairments (c) — — — 163 — 46 117 0.8 0.32

Medical device regulations (d) 1 — (29) 30 — 7 23 0.1 0.06

Recall-related matters (e) 52 (4) — 56 — 9 47 — 0.12

Regulatory and legal matters (f) — (7) — 7 — 2 5 — 0.01

Tax matters (g) — — — — — (71) 71 (2.5) 0.18

Adjusted $ 11,712 $ 6,086 $ 1,187 $ 4,439 $ (295) $ 603 $ 3,541 14.6 % $ 9.16

Adjusted percent net sales 65.3 % 33.9 % 6.6 % 24.7 % (1.6) % nm 19.7 %

nm - not meaningful

(a) Charges represent certain acquisition and integration-related costs associated with acquisitions, including:

Nine Months

2026 2025

Termination of sales relationships $ 7 $ —

Employee retention and workforce reductions 1 56

Changes in the fair value of contingent consideration 10 13

Manufacturing integration costs 27 14

Stock compensation payments upon a change in control — 139

Other integration-related activities (e.g., deal costs and legal entity rationalization) 16 80

Adjustments to Operating Income $ 61 $ 302

Adjustments to Income Taxes $ 10 $ 32

Adjustments to Net Earnings $ 51 $ 270

(b) Structural optimization and other special charges represent the costs associated with:

Nine Months

2026 2025

Employee retention and workforce reductions $ 20 $ 36

Closure/transfer of manufacturing and other facilities (e.g., site closure, contract termination and redundant employee costs) 17 20

Product line exits (e.g., inventory, long-lived asset and specifically-identified intangible asset write-offs) 6 2

Termination of sales relationships in certain countries 124 (2)

Spinal Implants sale related 128 17

Other charges 71 20

Adjustments to Operating Income $ 366 $ 93

Adjustments to Other Income (Expense), Net $ (71) $ (19)

Adjustments to Income Taxes $ 68 $ 15

Adjustments to Net Earnings $ 227 $ 59

Nine Months

2026 2025

Goodwill impairment $ 293 $ —

Certain long-lived and intangible asset write-offs and impairments — 108

Product line exits (e.g., long-lived asset and specifically-identified intangible asset write-offs) 1 55

Adjustments to Operating Income $ 294 $ 163

Adjustments to Income Taxes $ — $ 46

Adjustments to Net Earnings $ 294 $ 117

(g) Benefits / (charges) represent the accounting impact of certain significant and discrete tax items, including:

Nine Months

2026 2025

Adjustments related to the transfer of certain intellectual properties between tax jurisdictions $ (131) $ (153)

Other tax matters 44 82

Adjustments to Income Taxes $ (87) $ (71)

Adjustments to Other Income (Expense), Net $ — $ —

Adjustments to Net Earnings $ 87 $ 71

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COVER PAGE

Oct. 29, 2026

Document Information [Line Items]

Document Type

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Document Period End Date

Oct. 29, 2026

Entity Registrant Name

STRYKER CORP

Entity Incorporation, State or Country Code

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001-13149

Entity Tax Identification Number

38-1239739

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1941 Stryker Way

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Portage,

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2.125% Notes due 2027

Document Information [Line Items]

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NYSE

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