Medtronic Raises Full-Year Sales, Earnings Outlook
21 November 2023 - 11:42PM
Dow Jones News
By Will Feuer
Medtronic raised its full-year outlook for sales and adjusted
earnings after the medical-device maker reported fiscal second
quarter results that topped Wall Street analysts' expectations.
The company is now targeting fiscal-year organic revenue growth
of 4.75%, up from 4.5%. Including the anticipated impact from
currency fluctuations and other revenue, Medtronic said it
anticipated organic growth of 2.6%.
The company also increased its fiscal-year adjusted earnings
outlook to $5.13 a share to $5.19 a share, up from a prior range of
$5.08 a share to $5.16 a share.
Chief Financial Officer Karen Parkhill cited the company's
second-quarter performance and updated estimates for the impact of
taxes and foreign currency on fiscal-year results in raising
guidance.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
November 21, 2023 07:27 ET (12:27 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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