Medtronic Guides Q4 Adj. EPS In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Tuesday, medical devices maker Medtronic plc. (MDT) provided its adjusted earnings and revenue growth guidance for the fourth quarter.

For the fourth quarter, the company now projects adjusted earnings in a range of $1.56 to $1.58 per share, which includes a neutral to slightly positive impact from foreign currency based on recent rates. The company also expects organic revenue growth of approximately 5.5 percent. Revenue would be negatively affected by approximately $185 million at current exchange rates

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.58 per share on revenue growth of 3.7 percent to $8.49 billion for the quarter. Analysts' estimates typically exclude special items.

"We are starting to see procedure volumes improve, and our outlook assumes continued recovery through March and April. By the time we exit the fourth quarter, we expect procedure volumes in most of our markets to be back to pre-COVID levels," said Karen Parkhill, Medtronic chief financial officer.