Sundry Photography/iStock Editorial via Getty Images With its financials for Q4 FY24 on Thursday, Medtronic ( NYSE: MDT ) set its full-year earnings outlook for FY25 in line with consensus, citing forex-related headwinds. The Dublin, Ireland-based MedTech expects its FY25 non-GAAP diluted earnings per share to reach $5.40–$5.
50, compared to $5.45 projected by analysts. The forecast includes a 5% unfavorable impact from foreign currency exchange based on recent rates, which, according to the company, implies 4%–6% on its FY25 diluted non-GAAP EPS growth.
Meanwhile, MDT projects its FY25 revenue growth to reach 4%–5% YoY on an organic basis and 2.4%–3.7% YoY on a reported basis, compared to 5.
2% YoY and 3.6% YoY in FY24, respectively, and ~4% in the consensus. However, Medtronic ( MDT ) shares ticked higher premarket Thursday after the results exceeded analysts' expectations, and the company concurrently announced a dividend hike.
"Our fiscal 2025 guidance, along with our dividend increase and recent share repurchase, reflects our confidence in our continued trajectory," CFO Karen Parkhill remarked. In Q4, MDT's revenue remained largely flat at $8.6B from a year ago, indicating ~1% YoY growth as its cardiovascular portfolio underperformed, adding only $3.
1B to the topline compared to $3.2B in Bloomberg consensus. Other segments, including the diabetes segment, exceeded forecasts.
Thanks to the newly launched MiniMed 780G insulin pump, MDT's diabetes sales in Q4 grew ~11.
