Summary
Medtronic plc filed an 8-K/A on June 24, 2021, primarily to correct an error in its previously issued earnings release dated May 27, 2021. The amendment clarifies that a mistake was made in the GAAP to non-GAAP reconciliations regarding the treatment of currency impacts. Specifically, amounts for currency impacts were added when they should have been deducted. However, Medtronic assures investors that all revenue figures and overall financial metrics presented in the original earnings release were accurate. The company has reissued the earnings release with the corrected reconciliations to ensure full transparency and accuracy for investors.
Key Highlights
- 1Medtronic is issuing an 8-K/A to amend a prior earnings release from May 27, 2021.
- 2The correction pertains to a specific error in the GAAP to non-GAAP reconciliations related to currency impact.
- 3Currency impact amounts were incorrectly added instead of deducted in certain reconciliation line items.
- 4Medtronic confirms that all revenue figures in the original release were accurate.
- 5All presented financial metrics in the original earnings release were correct, except for the specific currency impact line item and related adjusted measures.
- 6An amended press release with corrected financial tables is attached as Exhibit 99.1.
- 7This filing does not alter the overall reported financial performance for the period.