Medtronic (MDT) reported $7.92 billion in revenue for the quarter ended July 2024, representing a year-over-year increase of 2.8%. EPS of $1.23 for the same period compares to $1.20 a year ago.The reported revenue represents a surprise of +0.22% over the Zacks Consensus Estimate of $7.9 billion. With the consensus EPS estimate being $1.20, the EPS surprise was +2.50%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their n ...

Medtronic plc (MDT) reported adjusted earnings per share (EPS) of $1.23 for first-quarter fiscal 2025, up 2.5% from the year-ago quarter’s figure. The figure also beat the Zacks Consensus Estimate by the same magnitude. Currency-adjusted EPS for the reported quarter was $1.29.Without certain one-time adjustments — including amortization, restructuring and associated costs, certain litigation charges and acquisition-related costs, among others — GAAP EPS was 80 cents, a 35.6% improvement from the year-ago qu ...

Key TakeawaysMedtronic beat first-quarter earnings and revenue estimates on strong sales of its medical devices.Sales were higher at the company's cardiovascular, neuroscience, and diabetes divisions.Medtronic raised the low end of its full-year outlook for its organic revenue growth and adjusted EPS. Medtronic (MDT) shares advanced in intraday trading Tuesday as the medical technology firm posted better-than-expected results and raised its guidance on strong demand for its medical devices. The Ireland-base ...

Financial Data and Key Metrics Changes - The company reported a revenue growth of 5.3%, exceeding the midpoint of guidance by a full point [25] - Adjusted EPS increased by 3% on a reported basis and 8% on a constant currency basis [8][25] - Adjusted gross margin was 65.9%, down 50 basis points year-over-year, but ahead of expectations [26] - Adjusted operating margin was 24.4%, in line with expectations, showing a decline of 40 basis points compared to last year [27] Business Line Data and Key Metrics Changes - The cardiovascular portfolio accelerated to high single-digit growth, with cardiac rhythm management growing high single digits [26] - Diabetes segment grew by 13%, with double-digit growth in both US and international markets [15] - Neuromodulation grew by 10%, driven by new technology in pain stimulation and brain modulation [19] - Surgical robotics showed growth in installed base and utilization per system, with ongoing clinical trials progressing well [14] Market Data and Key Metrics Changes - US growth accelerated, driven by contributions from cardiac rhythm management, PFA, and neuromodulation [26] - International markets grew in the high single digits, including mid-teens growth in emerging markets [26] - The company expects to see continued growth in the structural heart market, particularly with the launch of the Evolut FX plus TAVR valve [13] Company Strategy and Development Direction - The company is focused on driving scale across manufacturing, technology, and commercial organizations while investing in new product innovation [9] - There is a commitment to capital allocation towards high-growth market opportunities, including tuck-in M&A [32][66] - The company aims to enhance digital capabilities and operational quality to support future growth [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth due to the beginning stages of exciting product cycles in high-growth markets [38] - The company raised its full-year revenue and EPS guidance based on Q1 outperformance and positive momentum [28] - Management highlighted the importance of securing broad reimbursement for hypertension treatments to unlock market potential [18] Other Important Information - The company repurchased $1.5 billion of shares since the last earnings call, totaling $4 billion over the past two quarters [27] - The partnership with Abbott for integrated CGM is expected to expand access to a broader installed base [17][47] Q&A Session All Questions and Answers Question: Sustainability of Q1 performance and guidance for the back half - Management indicated that there were no one-offs driving Q1 performance and expressed confidence in sustaining growth due to new product cycles [38][40] Question: Guidance on gross margin and EPS - Management discussed the strong gross margin performance and the impact of share repurchases on EPS guidance, noting that currency pressures would ease in the second half [41][43] Question: Strategy behind the partnership with Abbott in Diabetes - Management clarified that the strategy remains focused on providing a comprehensive AID system while expanding access through the partnership with Abbott [46][47] Question: Market outlook for TAVR and FX Plus launch - Management expressed optimism about the TAVR market and the positive reception of the FX Plus valve, anticipating continued growth [50][51] Question: Progress and commitment to Hugo surgical robotics - Management confirmed progress in clinical trials and reiterated commitment to the Hugo platform, emphasizing its potential as a midterm growth driver [59][61] Question: M&A strategy and focus areas - Management outlined the focus on tuck-in M&A opportunities that align with high-growth areas, emphasizing operational improvements [66] Question: Capacity concerns in Structural Heart market - Management indicated no current concerns about capacity constraints in the Structural Heart market, with plans to support hospitals in expanding capacity if needed [70][72] Question: Insights on Affera and its market ramp - Management highlighted strong demand for PFA technology and the unique positioning of Affera, with expectations for robust growth in the future [78]

Medtronic (MDT) reported $7.92 billion in revenue for the quarter ended July 2024, representing a year-over-year increase of 2.8%. EPS of $1.23 for the same period compares to $1.20 a year ago.The reported revenue represents a surprise of +0.22% over the Zacks Consensus Estimate of $7.9 billion. With the consensus EPS estimate being $1.20, the EPS surprise was +2.50%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their n ...

Medtronic (MDT) came out with quarterly earnings of $1.23 per share, beating the Zacks Consensus Estimate of $1.20 per share. This compares to earnings of $1.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.50%. A quarter ago, it was expected that this medical device company would post earnings of $1.45 per share when it actually produced earnings of $1.46, delivering a surprise of 0.69%.Over the last four quarters, the co ...

| --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------|-------|-------| | | | | | Not started | | | | Medtronic plc Q1 FY25 Earnings presentation Work in progress Update complete Not started Work in progress Update complete | | | | August 20th, 2024 | | | Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are ...

Exhibit 99.1 NEWS RELEASE Contacts: | --- | --- | |------------------|--------------------| | Erika Winkels | Ryan Weispfenning | | Public Relations | Investor Relations | | +1-763-526-8478 | +1-763-505-4626 | FOR IMMEDIATE RELEASE Medtronic reports first quarter fiscal 2025 financial results Product innovation driving growth across diversified health tech portfolio, including Automated Insulin Delivery, Transcatheter Aortic Valve Replacement, Pulsed Field Cardiac Ablation, Pain Stimulation, and Deep Brain ...

Product innovation driving growth across diversified health tech portfolio, including Automated Insulin Delivery, Transcatheter Aortic Valve Replacement, Pulsed Field Cardiac Ablation, Pain Stimulation, and Deep Brain StimulationGALWAY, Ireland, Aug. 20, 2024 /PRNewswire/ -- Medtronic plc (NYSE: MDT) today announced financial results for its first quarter (Q1) of fiscal year 2025 (FY25), which ended July 26, 2024.Key HighlightsRevenue of $7.9 billion, adjusted revenue of $8.0 billion, increased 2.8% as repo ...

Medtronic plc (MDT) is scheduled to report first-quarter fiscal 2025 results on Aug 20, before the opening bell.In the last reported quarter, the company’s adjusted earnings of $1.46 exceeded the Zacks Consensus Estimate by 0.69%. Medtronic beat estimates in each of the trailing four quarters, the average surprise being 4.48%.The Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $7.90 billion, suggesting growth of 2.5% year over year. The consensus estimate for first-quarter earnings i ...