Medtronic (NYSE:MDT) reported Q4 EPS of $1.52, $0.05 worse than the analyst estimate of $1.57. Revenue for the quarter came in at $8.09 billion versus the consensus estimate of $8.44 billion.
GUIDANCE:
Medtronic sees FY2023 EPS of $5.53-$5.65, versus the consensus of $5.66.
- The company today issued its fiscal year 2023 revenue growth and EPS guidance.
- The company expects organic revenue growth in its fiscal year 2023 in the range of 4% to 5%. If recent foreign currency exchange rates hold, fiscal year 2023 revenue would be negatively affected by approximately $1.0 billion to $1.1 billion.
- The company expects fiscal year 2023 non-GAAP EPS in the range of $5.53 to $5.65, including an estimated 20 to 25 cent negative impact from foreign currency translation based on recent foreign currency exchange rates.
- "We expect recent and upcoming product launches to make a difference across our businesses this coming fiscal year," said Karen Parkhill, Medtronic chief financial officer. "Supply chain, inflation, and foreign exchange are expected to create near-term pressure. Yet, we remain focused on driving our R&D investments to accelerate our growth and create large, long-term returns for our shareholders."