Medtronic: lowers FY EPS forecast

(CercleFinance.com) - On the its quarterly earnings call, Medtronic said that it now expects adjusted EPS of 5.
25 to 5.30 dollars for the current financial year, down from 5.53 to 5.65 dollars previously, along with organic sales growth of 3.5% to 4% for H2.

For Q2, the medical equipment supplier reported adjusted EPS that is down 2% to $1.30 on revenue of nearly 7.6 billion dollars, down 3% as reported, although up 2% organically.

The slower-than-expected process and supply recovery resulted in sales below our expectations, management said, adding that it is still taking decisive action to improve the business' overall performance.


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