MDT - Medtronic Q4 earnings: 'we're optimistic about fiscal 2025'

2024-05-23 09:23:07 ET

Medtronic PLC (NYSE: MDT) is in focus on Thursday after reporting market-beating financial results for its fourth quarter.

Medtronic issues in-line guidance

The stock is flat at writing because issued roughly in-line guidance for the full year. It now forecasts $5.40 to $5.50 of per-share earnings on up 3.7% increase in revenue for the fiscal 2025.

Analysts, in comparison, were at $5.45 and about 4.0% growth, respectively.

Still, Medtronic raised its quarterly dividend this morning to 70 cents per share which “reflects our confidence in our continued trajectory”, Karen Parkhill – the chief executive said in a press release on Thursday.

Wall Street currently has a consensus “overweight” rating on Medtronic stock that’s now down some 3.0% versus its year-to-date high in early February.

Medtronic Q4 earnings snapshot

• Earned $659 million versus the year-ago $1.18 billion
• Per-share earnings also tanked from 88 cents to 49 cents
• Adjusted EPS printed at $1.46 as per the earnings report
• Revenue inched up 0.5% year-over-year to $8.60 billion
• Consensus was $1.45 a share on $8.44 billion in revenue

Medtronic ended its fiscal 2024 with $5.2 billion in free cash flow – up 14%. CEO Parkhill also said on Thursday:

Our momentum is building into the new fiscal year. We’re beginning new product cycles in some of MedTech’s most attractive markets, which is further enhanced as we apply AI across our portfolio. We are very optimistic about what we can achieve in fiscal ’25 and beyond.

Note that saw growth in all but the Cardiovascular portfolio in Q4.

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