Medtronic Sees $200m Hit From Tariffs and Misses Outlook Estimates

Medtronic PLC is expecting at least $200 million impact from tariffs on its exports, and issued lower-than-expected earnings per share outlook.

The medical devices maker has offset nearly 80% of tariff costs by rerouting shipments, seeking levy exemptions, and cutting discretionary spending, Chief Financial Officer Thierry Pieton told Bloomberg News. The company gets 7% of sales from China, and manufactures the majority of its products in the US.