Medtronic (NYSE:MDT) earnings for the medical device company’s fiscal second quarter of 2020 are out, but MDT stock isn’t moving much Tuesday. The company reported an adjusted EPS of $1.31 for the quarter. This is better than Wall Street’s estimate of $1.28. Revenue of $7.71 billion is also above analysts’ estimates of $7.66 billion.
Let’s see what else when on during the most recent Medtronic earnings report.
- Adjusted earnings per share are up 7.38% YoY from $1.22.
- Revenue is 7.08% better than the $7.48 billion from the same time last year.
- Operating income of $1.35 billion is 12.34% worse than $1.54 billion in the fiscal second quarter of 2019.
- The Medtronic earnings report also includes a net income of $1.37 billion.
- That’s a 22.32% increase over the company’s net income of $1.12 billion in the same period of the year prior.
Omar Ishrak, Chairman and CEO of Medtronic, says this about the MDT stock earnings.
“We reported another quarter of solid results, reflecting our continued focus on executing to our commitments across Medtronic. Our broad-based performance this quarter demonstrates the consistency of our execution, the strength of our innovation, and the benefit of our business and geographic diversification.”
The Medtronic earnings report also has the company updating its fiscal 2020 guidance. It now expects adjusted per-share earnings to range from $5.57 to $5.63. The old outlook range was $5.54 to $5.60. This update now has the low end of the guidance above Wall Street’s estimate of $5.56.
MDT stock was up slightly as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.