=Medtronic (MDT) reported earnings on Tue 21 Aug 18 (b/o)

Medtronic beats by $0.06, beats on revs; reaffirms FY19 EPS guidance, raises organic revenue outlook 

• Reports Q1 (Jul) earnings of $1.17 per share, excluding non-recurring items, $0.06 better thanthe S&P Capital IQ Consensus of $1.11; revenues fell 0.1% year/year to $7.38 bln vs the $7.24 bln S&P Capital IQ Consensus.
  • First quarter U.S. revenue of $3.864 billion represented 52 percent of company revenue and decreased 4.4 percent as reported, while it increased 6.4 percent on a comparable basis, which adjusts for the divestiture. Non-U.S. developed market revenue of $2.406 billion represented 33 percent of company revenue and increased 4.0 percent as reported and 5.5 percent on a comparable, constant currency basis. Emerging market revenue of $1.114 billion represented 15 percent of company revenue and increased 7.6 percent as reported and 11.2 percent on a comparable, constant currency basis.
• Co updates guidancefor FY19, continues to see EPS of $5.10-5.15, excluding non-recurring items, vs. $5.11 S&P Capital IQ Consensus. For fiscal year 2019, the company is increasing its organic revenue growth guidance from a range of 4.0 to 4.5 percent to a range of 4.5 to 5.0 percent.