Medtronic sees Q4 revenue of approx $7.3 bln, Capital IQ consensus $7.07 bln
- Preliminary Q4 Worldwide Revenue of Approximately $7.3 Billion Grew 7% on a Comparable, Constant Currency Basis; 60% as Reported (Capital IQ consensus is $7.07 bln)
- Preliminary Q4 U.S. Revenue of Approximately $4.1 Billion Grew 8% on a Comparable Basis; 67% as Reported.
- Preliminary FY15 GAAP Revenue of Approximately $20.3 Billion Grew 19% as Reported, or 6% on a Comparable, Constant Currency Basis
- Company Tightens Fourth Quarter Adjusted EPS Expectations; expects EPS at the upper end of the prior guidance range of $1.08-1.13, Capital IQ consensus $1.03.
- As this is the first quarter where the company is reporting results that include its recent acquisition of Covidien, full financial results are expected to be reported on June 2, 2015, two weeks later than the company's normal reporting date.
- Unless otherwise noted, all comparisons and growth rates in this press release are stated on a comparable, constant currency basis, which includes Covidien plc in the prior year comparison and aligns Covidien's prior year monthly revenue to Medtronic's fiscal quarters. Aligning historic Covidien revenue to Medtronic's fiscal quarters is different than the pro forma revenue information previously included within certain SEC filings. Management believes that referring to comparable, constant currency growth rates is a more useful way to evaluate the underlying performance of Medtronic's revenue.