Medtronic reports strong third quarter fiscal 2026 results with highest enterprise revenue growth in 10 quarters

Core Insights - Medtronic reported strong financial results for Q3 FY26, achieving the highest enterprise revenue growth in 10 quarters, with total revenue of $9.017 billion, an increase of 8.7% year-over-year and 6.0% on an organic basis [1][2][3] Financial Performance - Q3 revenue by segment included: - Diabetes business revenue of $796 million, up 14.8% as reported and 8.3% organic - Medical Surgical Portfolio revenue of $2.173 billion, up 4.9% as reported and 2.7% organic - Neuroscience Portfolio revenue of $2.558 billion, up 4.1% reported and 2.5% organic - Cardiovascular Portfolio revenue of $3.457 billion, up 13.8% as reported and 10.6% organic [1][2][3] - GAAP diluted EPS was $0.89, while non-GAAP diluted EPS was $1.36, exceeding Q3 guidance by three cents [1][3] - The company reiterated its FY26 organic revenue growth guidance of approximately 5.5% and diluted non-GAAP EPS guidance of $5.62 to $5.66 [1][2] Strategic Developments - Medtronic executed two key M&A transactions in the quarter: acquiring CathWorks in Coronary and Renal Denervation and Anteris in Structural Heart [1][2] - The company secured U.S. FDA clearance for the Stealth AXiS™ Surgical System for spinal procedures and the Hugo™ robotic-assisted surgery system, with the first cases completed in February 2026 [1][2] - Cardiac Ablation Solutions revenue surged by 80%, including a remarkable 137% growth in the U.S., driven by the strength of the pulsed field ablation (PFA) portfolio [1][2] Market Position - Medtronic's innovation pipeline and portfolio breadth are highlighted as key factors for sustaining long-term growth, with the company expressing confidence in its ability to unlock new markets and invest in high-growth opportunities [1][2]