Medtronic Boosts FY22 Adj. EPS - Quick Facts

(RTTNews) - While reporting financial results for the first quarter of fiscal 2022 on Monday, medical devices maker Medtronic plc. (MDT) raised its adjusted earnings guidance for the full year 2022, while reiterating annual and revenue growth outlook.

For fiscal 2022, the company now projects adjusted earnings in a range of $5.65 to $5.75 per share, up from the previous range of $5.60 to $5.75 per share. This includes an estimated 5 to 10 cent positive impact from foreign currency based on current exchange rates.

The company also continues to expects annual revenue growth of approximate 9 percent on an organic basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.69 per share on revenue growth of 10.3 percent to $33.21 billion for the year. Analysts' estimates typically exclude special items.