logo
Plus   Neg
Share
Email

Medtronic Boosts FY20 Adj. Earnings Outlook - Quick Facts

While reporting financial results for the second quarter on Tuesday, Medtronic plc. (MDT) raised its adjusted earnings guidance for the full-year 2020, while maintaining organic revenue growth outlook.

For fiscal 2020, the company increased its adjusted earnings guidance to a new range of $5.57 to $5.63 per share from the prior range of $5.54 to $5.60 per share. This includes an estimated 9 cent negative impact from foreign exchange based on current rates.

However, the company continues to project organic revenue growth of about 4 percent. At current exchange rates, revenue growth would be negatively affected by 0.8 to 1.2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.56 per share on revenue growth of 3.0 percent to $31.48 billion for the year. Analysts' estimates typically exclude special items.

"As we look forward, we're even more excited about what lies ahead, as the investments we've made in our pipeline begin to pay off by accelerating our revenue growth and creating value for our shareholders," said Omar Ishrak, Medtronic chairman and chief executive officer.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Facebook has unveiled Instagram Reels as its answer to the popular Chinese-owned video app TikTok. The social media giant said in a blog post that Instagram Reels is a new way to create short, entertaining videos on Facebook's photo-sharing app Instagram. Facebook reportedly shut down its TikTok clone Lasso in July, ahead of the launch of Instagram Reels. WD-40 Company recalled about 130,000 units of X-14 Mildew Stain Remover for potential risk of skin irritation, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said pressure can build up inside the bottle and cause it to fall over and leak, posing a risk of skin irritation. Biopharmaceutical company Bristol-Myers Squibb Co. on Thursday reported a loss for the second quarter, compared to a profit last year, hurt primarily by hefty amortization expenses. However, adjusted earnings per share and quarterly revenues topped analysts' expectations. Looking ahead, the company raised its adjusted earnings and revenue outlook for the full-year 2020.
Follow RTT