Medtronic Earnings: Everything You Must Know Now

Medtronic, Inc. (NYSE:MDT) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

Medtronic, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 3.53% to $0.88 in the quarter versus EPS of $0.85 in the year-earlier quarter.

Revenue: Rose 1.87% to $4.08 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Medtronic, Inc. reported adjusted EPS income of $0.88 per share. By that measure, the company met the mean analyst estimate of $0.88. It missed the average revenue estimate of $4.11 billion.

Quoting Management: “Our Q1 results reflect that we are broadly outperforming our sector,” said Omar Ishrak, Medtronic chairman and chief executive officer. “At the same time, we continue to strengthen and geographically diversify our business and remain confident in both our outlook for the remainder of the year and our long-term competitive position in the changing healthcare environment.”

Key Stats (on next page)…

Revenue decreased 8.45% from $4.46 billion in the previous quarter. EPS decreased 20% from $1.10 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.93 and has not changed. For the current year, the average estimate is a profit of $3.84, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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