Financial Performance - Medtronic reported a strong Q2 FY26 with 6.6% reported revenue growth and 5.5% organic revenue growth[17, 22] - Adjusted diluted EPS grew by 8% year-over-year[13, 20] - The company is raising FY26 revenue guidance by 50 bps to 5.5% and EPS guidance to $5.62-$5.66[13] - Adjusted gross margin expanded by 70 bps due to continued COGS efficiency program execution[15, 22] - The company is expecting ~$185 million tariff impact to COGS[54] Segment Performance - Cardiovascular segment showed strong performance with 9.3% organic growth[15, 21] - Cardiac Ablation Solutions (CAS) grew by 71% year-over-year, with 128% US growth[15, 39, 40] - Neuroscience segment grew by 3.9% organically[21] - Diabetes segment grew by 7.1% organically[21] - Medical Surgical segment grew by 1.3% organically[21] Strategic Initiatives - Medtronic is progressing toward Diabetes business separation by the end of CY26, with a preferred path of IPO and split-off[15, 47] - The company is increasing investments in enterprise growth drivers, organic R&D, and sales/marketing[15] - Medtronic is expecting to add incremental $1 billion revenue from Cardiac Ablation Solutions off FY25 base[33] Product and Market Highlights - The company received US FDA approval for Altaviva for treating urge urinary incontinence[15, 28] - Symplicity Spyral received PMDA approval in Japan and US CMS finalized National Coverage Determination[28, 29] - The company is launching new products and driving commercial execution, expecting growth to accelerate in H2 and beyond[15]