Medtronic Raises FY20 Adj. EPS Guidance From $5.54-$5.60 To $5.57-$5.63 vs $5.56 Est.

Guidance The company today reiterated its revenue growth guidance and raised its full year EPS guidance for fiscal 2020. The company continues to expect revenue growth in its fiscal year 2020 to approximate 4.0 percent

Benzinga · 11/19/2019 11:46

Guidance
The company today reiterated its revenue growth guidance and raised its full year EPS guidance for fiscal 2020.

The company continues to expect revenue growth in its fiscal year 2020 to approximate 4.0 percent on an organic basis and for revenue growth to accelerate in the second half relative to the first. If current exchange rates hold, revenue growth in fiscal year 2020 would be negatively affected by 0.8 to 1.2 percent.

The company increased its fiscal year 2020 diluted non-GAAP EPS guidance from the prior range of $5.54 to $5.60 to a new range of $5.57 to $5.63, including an estimated 9 cent negative impact from foreign exchange based on current rates.

“The first half of this fiscal year has gone well, as we’ve executed to our commitments and delivered better-than-expected results,” said Ishrak. “As we look forward, we’re even more excited about what lies ahead, as the investments we’ve made in our pipeline begin to pay off by accelerating our revenue growth and creating value for our shareholders.”