Medtronic reports third quarter fiscal 2025 financial results

Core Insights - Medtronic reported Q3 FY25 revenue of $8.292 billion, reflecting a 2.5% increase as reported and 4.1% on an organic basis, with notable growth in several key segments [2][11][27] - The company achieved a GAAP net income of $1.294 billion and diluted EPS of $1.01, with non-GAAP net income of $1.787 billion and diluted EPS of $1.39, representing increases of 3% and 7% respectively [2][9][27] - Medtronic reiterated its FY25 revenue growth guidance of 4.75% to 5% on an organic basis, with diluted non-GAAP EPS expected in the range of $5.44 to $5.50 [8][9] Financial Results - Q3 worldwide revenue was $8.292 billion, up 2.5% as reported and 4.1% organically [2][11] - GAAP net income was $1.294 billion, a decrease of 2%, while diluted EPS increased by 2% to $1.01 [2][27] - Non-GAAP net income was $1.787 billion, with diluted EPS of $1.39, marking increases of 3% and 7% respectively [2][27] Segment Performance - Cardiovascular Portfolio: Revenue of $3.037 billion, up 3.7% as reported and 5.0% organically, driven by growth in Cardiac Rhythm & Heart Failure and Structural Heart [4][12] - Neuroscience Portfolio: Revenue of $2.458 billion, an increase of 4.4% as reported and 5.2% organically, with strong performance in Neuromodulation [5][12] - Medical Surgical Portfolio: Revenue of $2.072 billion, down 1.9% as reported and 0.4% organically, impacted by flat results in Surgical & Endoscopy [6][12] - Diabetes Segment: Revenue of $694 million, up 8.4% as reported and 10.4% organically, reflecting strong adoption of the MiniMed™ 780G system [7][12] Guidance - The company maintains its FY25 organic revenue growth guidance of 4.75% to 5%, with total revenue growth expected to be in the range of 3.4% to 3.8% when including foreign currency impacts [8][9] - Diluted non-GAAP EPS guidance for FY25 is set between $5.44 and $5.50, indicating growth of 4.6% to 5.8% [9][10] Strategic Developments - Medtronic is seeing results from long-term investments in innovation, particularly in pulsed field ablation technologies, which are driving growth in attractive MedTech markets [3][12] - The company has received recent FDA approvals that enhance its product supply and market presence, particularly in the carotid market [12]