Edition:
United Kingdom

Medtronic Expects Q1 Revenue Growth In Cardiac And Vascular Unit To Be Flat


Thursday, 23 May 2019 

May 23 (Reuters) - Medtronic PLC ::EXEC SAYS WE SEE SOME SLOWDOWN IN REVENUE DUE TO CLOSURE OF CONTRACT STERILIZATION PLANT - CONF CALL.EXEC SAYS FOREIGN CURRENCY WOULD HAVE A NEGATIVE IMPACT ON FY20 REVENUE OF ABOUT 1% TO 1.5% - CONF CALL.EXEC SAYS WE EXPECT ORGANIC REVENUE GROWTH IN Q1 TO BE IN RANGE OF 2% TO 2.5% - CONF CALL.EXEC SAYS EXPECTS Q1 REVENUE GROWTH IN CARDIAC AND VASCULAR BUSINESS TO BE FLAT - CONF CALL.MEDTRONIC EXEC SAYS EXPECTS Q1 REVENUE GROWTH RATE TO BE LOWER THAN NORMAL DUE TO IMPACT FROM STERILIZATION PLANT SHUT DOWN, PACLITAXEL COATED BALLOON CONCERNS.MEDTRONIC EXEC SAYS SEES $20 MILLION TO $30 MILLION IMPACT TO Q1 REVENUE DUE TO CONTRACT STERILIZATION PLANT CLOSURE; EXPECTS ISSUE TO BE RESOLVED AT END OF Q1 - CONF CALL.MEDTRONIC EXEC SAYS SEES ANOTHER $20 MILLION TO $30 MILLION HEADWIND IN CARDIAC AND VASCULAR GROUP REVENUE IN Q1 DUE TO PACLITAXEL COATED BALLOON CONCERNS - CONF CALL.MEDTRONIC EXEC SAYS CHINA IS A BIG PRIORITY FOR MEDTRONIC; TARIFFS DO CAUSE SOMEWHAT OF A HEADWIND IN TERMS OF MARGINS - CONF CALL.MEDTRONIC EXEC SAYS FACED SOME CHINA TARIFF HEADWINDS IN FY19, DOES NOT EXPECT MAJOR INCREASE IN FY20 BUT SEES SOME HEADWIND TOWARDS SECOND HALF OF 2020 - CONF CALL.