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Stryker Fights Back After Cyberattack Disruption
31 Jul
Summary
- Stryker Corp adjusts full-year earnings outlook following a cyberattack.
- A March cyberattack disrupted operations, impacting production and shipments.
- Increased production and backlog shipment are crucial for second-half growth.
Medical device manufacturer Stryker Corp has adjusted its full-year adjusted-earnings forecast. This revision comes after a cyberattack in March significantly disrupted the company's operations. The incident created a backlog of equipment and affected production schedules.
To achieve its growth objectives for the second half of the year, Stryker is now focusing on increasing its production capacity. Furthermore, the company must expedite the shipment of its existing backlog of equipment. This strategic push is essential to recover from the operational disruptions caused by the cyber incident.
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