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CLAIM #40459 · Medtronic PLC (MDT) · 2024Q3 earnings call · Feb 20, 2024 · due Apr 30, 2024

On the bottom line with the beat in the third quarter, we're raising our full year EPS guidance by $0.04 at the midpoint to a new range of $5.19 to $5.21.

Karen Parkhill · CFO

PENDING
graded after results covering Apr 30, 2024 are reported

In context

th of 4.75% to 5%. For the fourth quarter, we're expecting organic revenue growth to be in the range of 4% to 4.5%. On a comp-adjusted basis, this is an acceleration from the third quarter, as we continue to ramp our recent product launches. With the exit of ventilators that we announced today, we are moving the associated revenue to the other segment, starting in the fourth quarter. As is the case with all revenue in other, we will exclude it from our organic revenue growth. And additional details can be found in our third quarter earnings presentation. Regarding currency based on recent rates, we would see a full-year revenue impact in the range of an unfavorable $15 million to a favorable $35 million, including an unfavorable impact of $70 million to $120 million in the fourth quarter. On the bottom line with the beat in the third quarter, we're raising our full year EPS guidance by $0.04 at the midpoint to a new range of $5.19 to $5.21. I'd point out that given our durable performance, we've been able to increase this guidance by $0.15 at the midpoint from where we initially started the year. For the fourth quarter, we expect adjusted EPS of $1.44 to $1.46. And regarding currency based on recent rates, we're seeing an unfavorable impact of 7% on full year EPS, including an unfavorable 5% impact in the fourth quarter. Lastly, while we'll give our fiscal year '25 guidance on our earnings call in May, after we finish our planning, I want to share our early thoughts. You've seen us deliver durable revenue growth for several quarters, and we expect that to continue. Down the P&L inflation, currency and tax are currently headwinds to earnings growth. And we expect to continue to increase our investments in R&D. That said, we'r

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SEC filings for MDT · Claim quote is verbatim from the 2024Q3 earnings call.