Medtronic plc Non-GAAP EPS of $1.36 beats by $0.02, revenue of $9B beats by $110M

2026-02-17 06:47:09 ET

• Medtronic plc press release ( MDT ): Q3 Non-GAAP EPS of $1.36 beats by $0.02 .
• Revenue of $9B (+8.4% Y/Y) beats by $110M .

• Medtronic reported Q3 worldwide revenue of $9.017 billion, an increase of 8.7% as reported and 6.0% on an organic basis. The organic revenue growth comparison excludes:...

  • Other revenue of $32 million in the current year and $32 million in the prior year
  • Revenue from the Dutch Obesity Clinic ( NOK ) divestiture with no revenue in the current year and $15 million in the prior year
  • Foreign exchange benefit of $242 million on the remaining segments
• Cardiovascular Portfolio revenue of $3.457 billion, an increase of 13.8% as reported and 10.6% organic, with high-teens increase in Cardiac Rhythm & Heart Failure, low-single digit increase in Structural Heart & Aortic, and mid-single digit increase in Coronary & Peripheral Vascular, all on an organic basis
• Neuroscience Portfolio revenue of $2.558 billion, an increase of 4.1% reported and 2.5% organic, with mid-single digit increase in Neuromodulation, mid-single digit increase in Cranial & Spinal Technologies, and flat result in Specialty Therapies, all on an organic basis
• Medical Surgical Portfolio revenue of $2.173 billion, an increase of 4.9% as reported and 2.7% organic, with low-single digit increase in Surgical & Endoscopy, and high-single digit increase in Acute Care & Monitoring, all on an organic basis
• Diabetes business revenue of $796 million, an increase of 14.8% as reported and 8.3% organic
• The company reiterates its FY26 organic revenue growth of approximately 5.5% and diluted non-GAAP EPS guidance of $5.62 to $5.66 vs $6.12 consensus. This includes a potential impact from tariffs of approximately $185 million, unchanged from the prior guidance. Excluding the potential impact from tariffs, this guidance represents FY26 diluted non-GAAP EPS growth of approximately 4.5%.

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