=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.

Earnings this week : Aug 20 - 24, 18 (wk 34)

Earnings confirmed to report this week:

Monday (August 20)

• Morning:  EL, IX, AU,  CMCM, HMI, SIEB, NESR, FENC
• Afternoon: NDSN LTM FANH FN TEDU ARL CMLS, EIGR  

Tuesday (Aug 21)

• Morning:  COTY  DAKT JILL KSS  MDT PINC SJM TJX TOL
• Afternoon:   BBL GSM KEYS JKHY PSTG SE MYGN LZB  RRGB URBN

Wednesday (Aug 22)

• Morning:  ADI BITA BNED FRO LOW MOMO PLAB RY SFL TGT UXIN 
• Afternoon:  BRY   BSBR HTHT LB SMRT SNPS SQM WSM QADA  ZAYO

Thursday (Aug 23)

• Morning:  BABA VMW INTU CM HPQ LX HRL  CTRN FLWS FLY HMLP  LANC  PLCE  SAFM SPWH TTC
• Afternoon:  ADSK GLOB GPS HPQ INTU OSIS ROST  SPLK VEEV VMW

Friday (Aug 24)

• Morning:  BKE FL HIBB UBNT

=Medtronic (MDT) reported earnings on Tue 11/22/16 (b/o)

Medtronic beats by $0.01, misses on revs; guides FY17 EPS below consensus; tempers top line growth forecast :

• Reports Q2 (Oct) earnings of $1.12 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $1.11; revenues rose 4.1% year/year to $7.34 bln vs the $7.46 bln Capital IQ Consensus; +3% ex-FX.
• Co issues downside guidance for FY17, sees EPS of $4.55-4.60, excluding non-recurring items, vs. $4.65 Capital IQ Consensus, including an estimated negative impact from foreign currency to fiscal year 2017 EPS of 20 to 22 cents, assuming current exchange rates remain similar for the rest of the year.
  • The company continues to expect fiscal year 2017 diluted non-GAAP EPS growth to be in the double digits on a constant currency, constant week basis, which is consistent with the company's long-term, double digit constant currency EPS growth expectation. The company expects non-GAAP diluted EPS growth for the second half of fiscal year 2017 to be in the 8 percent to 10 percent range on a constant currency basis.
  • Consistent with the company's long-term, mid-single digit constant currency revenue growth expectation, the company now expects fiscal year 2017 revenue growth to be within the mid-single digit range on a constant currency, constant weeks basis, as opposed to the upper half of the mid-single digit range signaled previously. The company expects revenue growth for the second half of fiscal year 2017 to also be in the mid-single range on a constant currency basis. While the impact from foreign currency is fluid, if current exchange rates remain similar for the remainder of the fiscal year, the company's full year revenue would be negatively affected by ~$20 million to $60 million, including an approximate $10 million to $30 million negative impact in the third fiscal quarter.
• "Q2 revenue was disappointing and did not meet our expectations. We faced issues that affected our growth, including slower than expected revenue as we await new product introductions, particularly in CVG and Diabetes," said Omar Ishrak, Medtronic chairman and chief executive officer. "Despite this revenue shortfall, we produced a strong improvement in operating margins and double digit constant currency earnings per share growth... While some of the challenges that affected revenue in Q2 could persist in the near term, we remain confident in our ability to deliver mid-single digit constant currency revenue growth and double-digit constant currency EPS growth, not only in our current fiscal year, but on a sustained basis into the future."