Financial Data and Key Metrics Changes - In Q2 2025, total company operational sales grew 22% and organic sales grew 17%, exceeding the guidance range of 13% to 15% [6][23] - Adjusted EPS for Q2 was $0.75, representing a 23% increase, also surpassing the guidance range of $0.71 to $0.73 [6][23] - Adjusted operating margin was 27.6%, an increase of 50 basis points compared to Q2 2024 [7][24] Business Line Data and Key Metrics Changes - Urology sales grew 28% operationally and 6% organically, driven by stone management and prosthetic urology franchises [11] - Endoscopy grew 8% globally, with double-digit growth in the U.S., supported by strong performance in key products [12] - Cardiology sales increased by 28%, with interventional cardiology therapy sales growing 9% [13] Market Data and Key Metrics Changes - U.S. operational growth was 31%, primarily driven by the cardiovascular portfolio [8][9] - EMEA grew 2% operationally, with 7% growth excluding the Accurate Valve discontinuation [9] - Asia Pacific saw a 15% operational growth, led by strong performance in Japan, China, and Australia [10] Company Strategy and Development Direction - The company is focusing on expanding its portfolio and investing in clinical evidence to support new technologies [15][21] - There is a commitment to strategic acquisitions and high-growth adjacencies, with recent acquisitions of Sonae V and Entera Medical [26] - The company aims to continue outpacing market growth through organic portfolio enhancements and strategic M&A [94] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory, expecting full-year organic growth to be in the range of 14% to 15% [28][29] - The anticipated impact of tariffs and the Accurate Valve discontinuation was discussed, with expectations for gross margin to remain flat for the year [24][45] - Management highlighted the importance of clinical data and reimbursement developments in driving future growth [72][75] Other Important Information - The company received a credit rating upgrade from Moody's to A3, reflecting improved financial stability [26] - Free cash flow for Q2 was $1,129 million, with expectations for full-year free cash flow to be approximately $3,500 million [26] Q&A Session Summary Question: WATCHMAN growth and durability - Management noted strong growth in WATCHMAN, driven by safety and efficacy, with expectations for continued growth in the future [35][38] Question: Gross margin concerns - Management addressed the impact of the Accurate Valve discontinuation on gross margin, emphasizing strong sales performance and cost controls [42][44] Question: Growth vectors for EP business - Management highlighted market growth, PFA adoption, and new product introductions as key growth drivers for the electrophysiology business [49][50] Question: MedSurg business performance - Management emphasized strong performance in Endoscopy and Neuromodulation, with expectations for continued growth despite some competitive pressures [55][60] Question: ASC setting and growth implications - Management expressed optimism about the ASC setting, viewing it as a positive development for future growth despite potential challenges [64][68] Question: Renal denervation market potential - Management discussed the potential of the renal denervation market, emphasizing the importance of clinical trials and market positioning [71][75] Question: Evolution of the EP portfolio - Management outlined plans for expanding the EP portfolio, including new product launches and indication expansions [78][82]

Fiserv (FI) Q2 2025 Earnings Call July 23, 2025 08:00 AM ET Speaker0Welcome to the Fiserv Second Quarter twenty twenty five Earnings Conference Call. All participants will be in a listen only mode until the question and answer session begins following the presentation. As a reminder, today's call is being recorded. At this time, I will turn the call over to Julie Sherriel, Senior Vice President of Investor Relations at Fiserv.Speaker1Thank you and good morning. With me on the call today are Mike Lyons, our ...

Financial Performance Highlights - Moody's achieved its second-highest Q2 revenue on record[9] - Moody's Analytics (MA) Annualized Recurring Revenue (ARR) reached $33 billion, an increase of 8% year-over-year[9] - Adjusted Operating Margin increased by 130 basis points to 509%[12] - Adjusted Diluted EPS increased by 9% to $356[12] Moody's Investors Service (MIS) Performance - MIS revenue outpaced issuance by approximately 12%[13] - MIS achieved an Adjusted Operating Margin of 642%, up 100 basis points[12, 16] - Total MIS rated issuance guidance was updated to reflect a decrease in the low-single-digit to mid-single-digit percent range[27, 36] Moody's Analytics (MA) Performance - MA experienced strong recurring revenue growth, with recurring revenue accounting for 96% of total revenue[19] - MA's Adjusted Operating Margin increased by 360 basis points to 321%[12, 19] - Decision Solutions led with 10% ARR growth[12] - MA revenue grew by 11% year-over-year[19] Updated Full Year 2025 Guidance - MCO revenue growth is projected to be in the mid-single-digit percent range[10] - Adjusted Diluted EPS is now expected to be in the range of $1350 to $1400[12] - The company plans to repurchase at least $13 billion in shares[39]