What's In The Cards For Medtronic (MDT) In Q1 Earnings?
Zacks Investment Research | Aug 21, 2016 09:01PM ET
Ireland-based medical device major Medtronic plc (NYSE:MDT) is slated to report its first-quarter fiscal 2017 earnings on Aug 25, before the opening bell.
Last quarter, the company delivered earnings of $1.27 per share, surpassing the Zacks Consensus Estimate by a penny. In fact, Medtronic’s earnings have outpaced the Zacks Consensus Estimate in three out of the past four quarters, with an average beat of 1.2%. Let’s see how things are shaping up prior to this announcement.
Factors at Play
Despite the fact that Medtronic continues to be plagued by strong foreign exchange headwinds, the company’s robust operations indicate a brighter start to fiscal 2017.
The company, in its fiscal fourth-quarter earnings call, noted that revenue growth for the first quarter will remain at the lower half of its annual revenue outlook range of 5% to 6% at CER on a constant week basis. First quarter earnings per share on a constant week basis should remain around the upper end of the company’s annual earnings per share growth guidance range of 12% to 16%.
MEDTRONIC Price and EPS Surprise
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