Medtronic (MDT) Tops Q3 EPS by 6c; Raises FY Outlook

(Updated - February 18, 2020 6:47 AM EST)

Medtronic (NYSE: MDT) reported Q3 EPS of $1.44, $0.06 better than the analyst estimate of $1.38. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.81 billion.

“Organic revenue growth was light this quarter, due largely to transient issues,” said Omar Ishrak, Medtronic chairman and chief executive officer. “However, we continue to feel very good about the fourth quarter, and in the third quarter, a softer top-line was more than offset by significant margin expansion, resulting in better-than-expected earnings per share and free cash flow.”

GUIDANCE:

Medtronic sees FY2020 EPS of $5.63-$5.65, versus the consensus of $5.60.

Medtronic sees Q4 EPS of $1.62-$1.64, versus the consensus of $1.64.

For earnings history and earnings-related data on Medtronic (MDT) click here.

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