Medtronic Reports Second Quarter Financial Results
A press release dated Nov. 19, 2019 for AREA member Medtronic plc. Today the company announced financial results for its second quarter of fiscal year 2020, which ended October 25, 2019.
The company reported second quarter worldwide revenue of $7.706 billion, an increase of 3.0 percent as reported or 4.1 percent on an organic basis, which adjusts for a $97 million negative impact from foreign currency and a $16 million contribution from the company’s acquisition of Titan Spine, which is reported in the Spine division in the Restorative Therapies Group.
“We reported another quarter of solid results, reflecting our continued focus on executing to our commitments across Medtronic,” said Omar Ishrak, Medtronic chairman and chief executive officer. “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.”
Headline figures were:
- Revenue of $7.7 Billion Increased 3.0% Reported and 4.1% Organic
- GAAP Diluted EPS of $1.01; Non-GAAP Diluted EPS of $1.31
- Cash Flow from Operations of $1.9 Billion Grew 61%
- Free Cash Flow of $1.6 Billion Grew 66%
- Company Raises FY20 EPS Guidance
For the full press release on the reports.