Medtronic Lifts FY25 Outlook After Q1 Profit Beats View - Update

(RTTNews) - Medtronic Plc (MDT), a healthcare technology firm, on Tuesday raised its fiscal 2025 earnings and revenue growth guidance after reporting higher profit in its first quarter above market estimates, with increased sales.

Gary Corona, Medtronic interim chief financial officer, said, "Overall revenue outperformance flowed through to the bottom line, with adjusted EPS ahead of expectations. We're raising our guidance today as we expect to sustain growth from new product introductions, continue to make the investments to support those launches, and deliver on our commitment to restore earnings power."

For fiscal 2025, the company now expects adjusted earnings per share in a new range of $5.42 to $5.50, compared to previously expected $5.40 to $5.50. The guidance represents adjusted earnings per share growth in the range of 4 percent to 6 percent.

Analysts on average expect the company to report earnings of $12.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Further, the company lifted annual organic revenue growth guidance to 4.5 percent to 5 percent versus the prior range of 4 percent to 5 percent. Revenue growth on an adjusted basis would be in the range of 3.4 percent to 4.3 percent.

In its first quarter, Medtronic's profit increased from last year and beat the Street estimates.

The company's bottom line came in at $1.042 billion, or $0.80 per share, compared to $791 million or $0.59 per share last year.

Adjusted earnings were $1.592 billion or $1.23 per share for the period. Analysts had expected the company to earn $1.20 per share.

The company's revenue for the quarter rose 2.8 percent to $7.915 billion from $7.702 billion last year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.