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Inferra AI / Company / MDT

Medtronic

MDT · Health Care

Last earnings Sep 1, 2026

Important announcements

Medtronic Completes Separation of MiniMed Group, Inc.Oct 19, 2026

Key results

Revenuequarter

$8.6 billion

Revenue of $8.6 billion, adjusted

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

revenue of $8.5 billion, increased 8.4% as reported and 4.8% organic

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

GAAP EPSquarter

$0.81

GAAP diluted EPS of $0.81 increased 1% non-GAAP

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Adjusted revenuequarter

$8.539 billion

Financial Results Medtronic reported Q1 worldwide revenue of $8.578 billion and adjusted revenue of $8.539 billion, an increase of 8.4% as reported and 4.8% on an organic basis.

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Cardiovascular Portfolio revenuequarter

$3.285 billion

Cardiovascular Portfolio revenue of $3.285 billion increased 9.3% as reported and 7.0% organic, with a high-single digit increase in Cardiac Rhythm Heart Failure, mid-single digit increase in Structural Heart Aortic, and low-single digit increase in Coronary Peripheral Vascular, all on an organic basis

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Neuroscience Portfolio revenuequarter

$2.416 billion

Neuroscience Portfolio revenue of $2.416 billion increased 4.3% reported and 3.1% organic, with a high-single digit increase in Neuromodulation and mid-single digit increase in Cranial Spinal Technologies, offset by a low-single digit decrease in Specialty Therapies, all on an organic basis 2

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Medical Surgical Portfolio revenuequarter

$2.083 billion

Medical Surgical Portfolio revenue of $2.083 billion grew 4.4% as reported and 2.4% organic, with low-single digit organic growth in both Surgical Endoscopy and Acute Care Monitoring and Diabetes business

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

revenue of $721 million increased 11.5% as reported and 7.9% organic.

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Research and developmentquarter

$726 million

Research and development expense 726 676

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Selling, general, and administrativequarter

$2,806 million

Selling, general, and administrative expense 2,806 2,655

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Net incomequarter

$1,047 million

Net income 1,047 1,049

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

EPSquarter

$ 0.81

Diluted earnings per share $ 0.81 $ 0.80

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

AI analysis

Q1 FY2026 · reported Aug 19, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q1 FY2026
$8.6B
EX-99 · Aug 19, 2025
GAAP EPS · Q1 FY2026
$0.81
EX-99 · Aug 19, 2025
Net income · Q1 FY2026
$1,047M
EX-99 · Aug 19, 2025
Adjusted revenue · Q1 FY2026
$8.539B
EX-99 · Aug 19, 2025

The quarter in charts

Guidance ladder — revenue

Delivered vs the company's guided range

EX-99 · Aug 19, 2025 Guide as stated by the company; range and midpoint computed from the stated figure.

Segment mix

Business-unit revenue, as stated

01.332.674$3.285BCardiovascular Portfolio$2.416BNeuroscience Portfolio$2.083BMedical Surgical Portfolio

Segment revenue figures as stated in the event record.

Headline figures

MetricQ1 FY2026Prior qtrYear ago
Revenue$8.6 billion——
GAAP EPS$0.81——
Adjusted revenue$8.539 billion——
Cardiovascular Portfolio revenue$3.285 billion——
Neuroscience Portfolio revenue$2.416 billion——
Medical Surgical Portfolio revenue$2.083 billion——
Research and development$726 million——
Selling, general, and administrative$2,806 million——

EX-99 · Aug 19, 2025

Guidance · company-stated

Direction: Raised

Revenue$8.6 billion

“Key Highlights Revenue of $8.6 billion, adjusted revenue of $8.5 billion, increased 8.4% as reported and 4.8% organic GAAP diluted EPS of $0.81 increased 1% non-GAAP diluted EPS of $1.26 increased 2% Company raises FY26 EPS guidance reiterates FY26 organic revenue growth guidance Cardiac Ablation Solutions revenue increased nearly 50%, including 72% in the US, on strength of pulsed field ablation (PFA) products 1 U.”

Revenue

“Guidance The company today reiterated its FY26 revenue growth and raised its FY26 EPS guidance.”

EPS

“Including the reduced potential impact from tariffs of approximately 3 $185 million versus the prior range of approximately $200 million to $350 million, Medtronic is raising its FY26 diluted non-GAAP EPS guidance to the new range of $5.60 to $5.66 versus the prior range of $5.50 to $5.60.”

Midpoint vs latest-quarter revenue0.0%computed from stated figures

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Prior to the acquisition, the Company held an existing 15 % equity interest in CathWorks, a debt investment in CathWorks, and an option to acquire the remaining 85 % equity interest.

Financial Instruments Debt Securities The Company holds investments in marketable debt securities that are classified and accounted for as available-for-sale and are remeasured on a recurring basis.

What changed vs last quarter

  • Guide midpoint vs latest-quarter revenue 0.0% computed from stated figures
General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Financial Results Medtronic reported Q1 worldwide revenue of $8.578 billion and adjusted revenue of $8.539 billion, an increase of 8.4% as reported and 4.8% on an organic basis

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Revenue: “Key Highlights Revenue of $8.6 billion, adjusted revenue of $8.5 billion, increased 8.4% as reported and 4.8% organic GAAP diluted EPS of $0.81 increased 1% non-GAAP diluted EPS of $1.26 increased 2% Company raises FY26 EPS guidance reiterates FY26 organic revenue growth guidance Cardiac Ablation Solutions revenue increased nearly 50%, including 72% in the US, on strength of pulsed field ablation (PFA) products 1 U.”

Revenue: “Guidance The company today reiterated its FY26 revenue growth and raised its FY26 EPS guidance.”

EPS: “Including the reduced potential impact from tariffs of approximately 3 $185 million versus the prior range of approximately $200 million to $350 million, Medtronic is raising its FY26 diluted non-GAAP EPS guidance to the new range of $5.60 to $5.66 versus the prior range of $5.50 to $5.60.”

Revenue — Raised (“increased”)
“Key Highlights Revenue of $8.6 billion, adjusted revenue of $8.5 billion, increased 8.4% as reported and 4.8% organic GAAP diluted EPS of $0.81 increased 1% non-GAAP diluted EPS of $1.26 increased 2% Company raises FY26 EPS guidance reiterates FY26 organic revenue growth guidance Cardiac Ablation Solutions revenue increased nearly 50%, including 72% in the US, on strength of pulsed field ablation (PFA) products 1 U.”

Revenue — Raised (“raised”)
“Guidance The company today reiterated its FY26 revenue growth and raised its FY26 EPS guidance.”

EPS — Raised (“raising”)
“Including the reduced potential impact from tariffs of approximately 3 $185 million versus the prior range of approximately $200 million to $350 million, Medtronic is raising its FY26 diluted non-GAAP EPS guidance to the new range of $5.60 to $5.66 versus the prior range of $5.50 to $5.60.”

EPS — Raised (“raising”)
“As a result of our Q1 EPS outperformance and improved tariff impact assumption, we are raising our full year EPS guidance, said Thierry Pi ton, Medtronic chief financial officer.”

Classified from the release's primary full-year outlook statement.

Capital allocation

Prior to the acquisition, the Company held an existing 15 % equity interest in CathWorks, a debt investment in CathWorks, and an option to acquire the remaining 85 % equity interest.

SEC original ↗Medtronic — 10-Q Quarterly report10-QSep 3, 2026

Financial Instruments Debt Securities The Company holds investments in marketable debt securities that are classified and accounted for as available-for-sale and are remeasured on a recurring basis.

SEC original ↗Medtronic — 10-Q Quarterly report10-QSep 3, 2026

government and agency securities $ 366 $ $ ( 5 ) $ 362 $ 362 $ Level 2: Corporate debt securities 4,034 7 ( 39 ) 4,002 4,002 U.

SEC original ↗Medtronic — 10-Q Quarterly report10-QSep 3, 2026

government and agency securities $ 420 $ $ ( 4 ) $ 416 $ 416 $ Level 2: Corporate debt securities 4,041 25 ( 15 ) 4,050 4,050 U.

SEC original ↗Medtronic — 10-Q Quarterly report10-QSep 3, 2026

government and agency securities 23 23 23 Other asset-backed securities 1,121 4 ( 7 ) 1,118 1,118 Total Level 2 6,849 37 ( 49 ) 6,837 6,837 Level 3: Auction rate securities 36 ( 2 ) 34 34 Total available-for-sale debt securities $ 7,305 $ 37 $ ( 56 ) $ 7,287 $ 7,253 $ 34 The amortized cost of debt securities excludes accrued interest, which is reported in other current assets in the condensed consolidated balance sheets.

SEC original ↗Medtronic — 10-Q Quarterly report10-QSep 3, 2026

Gains and losses on available-for-sale debt securities are recognized in other non-operating expense (income) , net in the consolidated statements of income.

SEC original ↗Medtronic — 10-Q Quarterly report10-QSep 3, 2026

Strategy & priorities

Our confidence continues to increase as we advance our revenue growth drivers and execute on efficiencies in manufacturing, supply chain, and operating expenses to drive earnings growth, and increase our growth investments in R D, sales, and marketing, all with a deliberate focus on creating long-term shareholder value.

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Medtronic generally uses non-GAAP financial measures to facilitate management s review of the operational performance of the company and as a basis for strategic planning.

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

MiniMed Restructuring Actions In December 2025, the Board of Directors approved a series of restructuring actions designed to support the separation and position of both Medtronic and MiniMed by enabling greater strategic focus, improving operational efficiency, aligning organizational structures of each, and driving long-term business growth and efficiencies in the individual organizations.

SEC original ↗Medtronic — 10-Q Quarterly report10-QSep 3, 2026

Risks & headwinds

Excluding the potential impact from tariffs, Medtronic now expects underlying FY26 diluted non-GAAP EPS growth to be approximately 4.5% versus the prior guidance of approximately 4%.

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Including the reduced potential impact from tariffs of approximately 3 $185 million versus the prior range of approximately $200 million to $350 million, Medtronic is raising its FY26 diluted non-GAAP EPS guidance to the new range of $5.60 to $5.66 versus the prior range of $5.50 to $5.60.

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

As a result of our Q1 EPS outperformance and improved tariff impact assumption, we are raising our full year EPS guidance, said Thierry Pi ton, Medtronic chief financial officer.

SEC original ↗Medtronic — Earnings release (8-K exhibit)EX-99Aug 19, 2025

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Gilead Sciences (GILD) Health CareGenmab (GMAB) Health CareAlcon (ALC) Health CareArgenx (ARGX) Health CareSanofi (SNY) Health CareMerck & Co. (MRK) Health CareXencor Inc (XNCR) Health CareIllumina, Inc. (ILMN) Health Care
Documents

Filings

64 documents

Earnings releases

21 documents

Presentations

0 documents

No presentations for Medtronic are held in this edition of the library.

Transcripts

0 documents

No transcripts for Medtronic are held in this edition of the library.

Mentioned by

7 companies

Other tracked companies whose held documents mention Medtronic by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.