Medtronic Earnings: Fourth Straight Quarter of Profit Growth

S&P 500 (NYSE:SPY) component Medtronic Inc. (NYSE:MDT) reported its results for the first quarter. Medtronic provides products and therapies for medical professionals.

Investing Insights: Is TV the Next Bullish Catalyst for Apple’s Stock?

Medtronic Inc. Earnings Cheat Sheet

Results: Net income for the medical products rose to $864 million (83 cents per share) vs. $821 million (77 cents per share) in the same quarter a year earlier. This marks a rise of 5.2% from the year-earlier quarter.

Revenue: Rose 1.6% to $4.01 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Medtronic Inc. reported adjusted net income of 85 cents per share. By that measure, the company fell in line with the mean estimate of 85 cents per share. It fell short of the average revenue estimate of $4.23 billion.

Quoting Management: “We delivered another quarter of improving revenue growth in a dynamic healthcare environment,” said Omar Ishrak, Medtronic chairman and chief executive officer. “Once again, our growth was broad-based across businesses and geographies and reflects the positive impact of well-executed product launches and stabilizing end-markets.”

Key Stats:

The company’s net income has now been increasing for four consecutive quarters. In the fourth quarter of the last fiscal year, net income rose 27.7% while the figure climbed 1.2% in the third quarter of the last fiscal year and 53.9% in the second quarter of the last fiscal year from the year earlier.

The company met estimates last quarter after topping forecasts in the previous quarter with net income of 99 cents versus a mean estimate of net income of 98 cents per share.

Looking Forward: Next quarter’s results are expected to be more favorable for the company. Over the past sixty days, the average estimate for the second quarter has reached 90 cents per share, up from 89 cents. The average estimate for the fiscal year has remained at $3.66 per share.

Competitors to Watch: Boston Scientific Corp., St. Jude Medical, Inc., Edwards Lifesciences Corp, Johnson & Johnson, ZOLL Medical Corporation, Abbott Laboratories, Stryker Corporation, Integra LifeSciences Hldgs. Corp., CONMED Corporation, and Greatbatch Inc.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Are Central Banks Still Hoarding Gold?

Apple and Google Have Some LESSONS for Tech Companies>>

Is Home Depot’s Stock a Buy?