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Medtronic Boosts FY19 Adj. Earnings Outlook - Quick Facts

(RTTNews) - Medtronic plc. (MDT) on Tuesday raised its adjusted earnings guidance and updated its revenue growth guidance for the full-year 2019.

The company increased its fiscal 2019 adjusted earnings guidance to a new range of $5.14 to $5.16 per share from the prior range of $5.10 to $5.15 per share. Foreign exchange would have a modest positive impact on the company earnings if the current exchange rates hold for the remainder of the year.

The company also now projects organic revenue growth in a range of 5.25 to 5.5 percent, up from the prior forecast range of 5.0 to 5.5 percent. At current exchange rates, revenue would be negatively affected by about $425 million to $475 million.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $9.78 billion for fiscal year 2019. Analysts' estimates typically exclude special items

The company also increased its fiscal year 2019 free cash flow guidance to the new range of $5.0 billion to $5.2 billion from the prior range of $4.7 billion to $5.1 billion.
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