By Will Feuer


Medtronic PLC said it expects revenue and adjusted earnings to grow in its fiscal fourth quarter as procedure volumes recover from the surge in Covid-19 cases in the prior quarter.

The medical-technology and services company Tuesday said it expects revenue to grow by about 5.5% in the current quarter. If recent foreign-currency exchange rates hold, fourth-quarter revenue would be negatively affected by about $185 million, the company said.

The company also said it expects fourth-quarter adjusted earnings of between $1.56 a share and $1.58 a share. The company posted adjusted earnings of $1.50 a share a year earlier.

"We are starting to see procedure volumes improve, and our outlook assumes continued recovery through March and April. By the time we exit the fourth quarter, we expect procedure volumes in most of our markets to be back to pre-Covid levels," Medtronic Chief Financial Officer Karen Parkhill said.

Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

02-22-22 0724ET