MDT

Medtronic plc announced its financial results for the second quarter of fiscal year 2026, ending October 24, 2025. The company reported revenue of $9.0 billion, reflecting a 6.6% increase, and a net income of $1.374 billion. The diluted earnings per share (EPS) were $1.07, an 8% rise compared to the same quarter last year. In this quarter, the Cardiac Ablation Solutions segment experienced significant growth, with a 71% increase in revenue, driven particularly by the pulsed field ablation (PFA) portfolio. Notably, the company achieved its strongest cardiovascular revenue growth in over a decade, excluding pandemic impacts. Medtronic raised its full-year 2026 guidance, now expecting approximately 5.5% organic revenue growth and adjusted EPS of between $5.62 and $5.66. The company also secured a favorable National Coverage Determination from the U.S. Centers for Medicare & Medicaid Services for the Symplicity™ procedure, which addresses hypertension, targeting a market of 18 million in the U.S. Additionally, Medtronic received U.S. FDA approval for the Altaviva™ device for treating urge urinary incontinence and initiated a pivotal study for its Hugo™ robotic-assisted surgery system. The company’s research and development expenses were increased to support future growth, indicating a commitment to innovation in healthcare technologies.

In the first quarter of fiscal year 2026, Medtronic reported revenue of $8.6 billion, with a net income of $1.04 billion. The company achieved a GAAP diluted earnings per share (EPS) of $0.81, marking a 1% increase, while the non-GAAP diluted EPS rose by 2% to $1.26. The company's Cardiac Ablation Solutions revenue surged by nearly 50%, driven by a 72% increase in the U.S. market, primarily due to the success of its pulsed field ablation products. Medtronic also received a proposed National Coverage Determination from the U.S. Centers for Medicare & Medicaid Services for its Symplicity Spyral™ system for hypertension, with a final decision expected by October 8, 2025. Research and development (R&D) spending reached $726 million during the quarter. Additionally, Medtronic received CE Mark approval for its LigaSure™ RAS vessel-sealing technology on the Hugo™ robotic-assisted surgery system, enhancing its product offerings in the surgical robotics market. The company raised its FY26 EPS guidance while maintaining its organic revenue growth target of approximately 5%. This adjusted outlook reflects improved expectations regarding tariff impacts, which were reduced from an estimated $200-350 million to about $185 million.

In the third quarter of fiscal year 2026, Medtronic plc reported revenue of $9.0 billion, which represents an increase of 8.7% compared to the same period last year. The company achieved a net income of $1.143 billion, resulting in a GAAP diluted earnings per share (EPS) of $0.89 and a non-GAAP diluted EPS of $1.36, which exceeded guidance by three cents. The cardiovascular portfolio saw strong performance, growing by 11% year-over-year, with Cardiac Ablation Solutions revenue soaring 80%, including a remarkable 137% growth in the U.S. market. Medtronic also secured a CE Mark for its Sphere-360™ device and began a pivotal trial in the U.S. for the same product. Additionally, the company received U.S. FDA clearance for its Hugo™ robotic-assisted surgery system and the Stealth AXiS™ Surgical System for spinal procedures. The diabetes segment also showed positive results, with an 8.3% revenue increase driven by double-digit growth in international markets. Medtronic continues to execute its merger and acquisition strategy, completing two key transactions during the quarter, while reiterating its FY26 organic revenue growth guidance of approximately 5.5% and non-GAAP EPS guidance of $5.62 to $5.66.