Medtronic (MDT) Tops Q3 EPS by 4c; raises FY24 Guidance

Medtronic (NYSE: MDT) reported Q3 EPS of $1.30, $0.04 better than the analyst estimate of $1.26. Revenue for the quarter came in at $8.1 billion versus the consensus estimate of $7.95 billion.

GUIDANCE:

Medtronic sees FY2024 EPS of $5.19-$5.21, versus the consensus of $5.16.

The company increased its FY24 organic revenue growth guidance from the prior 4.75% to the new range of 4.75% to 5%. The organic revenue growth guidance excludes the impact of foreign currency and revenue related to business separations reported as Other. Including Other revenue and the impact of foreign currency, if recent foreign currency exchange rates hold, FY24 revenue growth on a reported basis would be in the range of 2.9% to 3.3%.

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

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