Medtronic Q4 2022 Earnings Report
Key Takeaways
Medtronic reported a 1% decrease in Q4 revenue to $8.1 billion, but a 1% increase on an organic basis. GAAP diluted EPS increased by 10% to $1.10, while non-GAAP diluted EPS increased by 2% to $1.52. The company issued FY23 guidance, expecting organic revenue growth of 4% to 5% and non-GAAP EPS in the range of $5.53 to $5.65.
Q4 revenue decreased 1% reported and increased 1% organic
Q4 GAAP diluted EPS of $1.10 increased 10%; non-GAAP diluted EPS of $1.52 increased 2%
Company issues FY23 guidance
Quarterly dividend increased to $0.68, annual $2.72 from prior $2.52
Medtronic
Medtronic
Medtronic Revenue by Segment
Medtronic Revenue by Geographic Location
Forward Guidance
The company expects organic revenue growth in its fiscal year 2023 in the range of 4% to 5%. The company expects fiscal year 2023 non-GAAP EPS in the range of $5.53 to $5.65.
Positive Outlook
- Expect recent and upcoming product launches to make a difference across our businesses this coming fiscal year
Challenges Ahead
- Supply chain is expected to create near-term pressure.
- Inflation is expected to create near-term pressure.
- Foreign exchange are expected to create near-term pressure.
- Fiscal year 2023 revenue would be negatively affected by approximately $1.0 billion to $1.1 billion due to foreign currency exchange rates
- Company expects an estimated 20 to 25 cent negative impact from foreign currency translation based on recent foreign currency exchange rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income