Medtronic Tops Fiscal Q3 Estimates as Cardiovascular Segment Drives Growth

Core Viewpoint - Medtronic plc reported fiscal third-quarter 2026 results that exceeded analyst expectations, although shares experienced a decline of over 2% intra-day following the release [1] Financial Performance - The company generated revenue of $9.0 billion, reflecting an 8.7% increase on a reported basis and 6.0% organic growth year over year, surpassing the consensus estimate of $8.89 billion [2] - Adjusted earnings per share were reported at $1.36, slightly above expectations of $1.34 [2] - The quarter marked the strongest enterprise revenue growth for the company in 10 quarters [2] Segment Performance - The Cardiovascular Portfolio led the performance with revenue climbing 13.8% as reported and 10.6% organically to $3.46 billion, with Cardiac Ablation Solutions showing particularly strong results, including an 80% increase in global revenue and a 137% surge in U.S. revenue [3] - Other segments also reported gains: the Neuroscience Portfolio increased 4.1% to $2.56 billion, the Medical Surgical Portfolio rose 4.9% to $2.17 billion, and the Diabetes segment grew 14.8% to $796 million [4] Outlook - Medtronic reaffirmed its fiscal 2026 outlook, maintaining expectations for approximately 5.5% organic revenue growth and adjusted EPS between $5.62 and $5.66, which includes a potential $185 million headwind from tariffs [4]