Medtronic reported a strong second quarter of fiscal year 2026, exceeding expectations for both revenue and EPS, driven by robust procedure volumes and accelerating growth in key enterprise drivers.
Revenue of $9.0 billion increased 6.6% as reported and 5.5% organic, exceeding guidance.
positiveGAAP diluted EPS of $1.07 and non-GAAP diluted EPS of $1.36 both increased 8%, surpassing guidance.
positiveCardiac Ablation Solutions revenue surged 71%, with U.S. growth at 128%, driven by the PFA portfolio.
positiveCardiovascular portfolio showed its strongest growth in over a decade, excluding pandemic impacts.
positiveRaised FY26 guidance for organic revenue growth to approximately 5.5% and adjusted EPS to $5.62-$5.66.
positiveGAAP operating profit margin decreased by 20 basis points to 18.8%, and non-GAAP operating profit margin also decreased by 20 basis points to 24.1%.
attentionMedical Surgical Portfolio revenue growth was modest at 2.1% reported and 1.3% organic.
attentionNeuroscience Portfolio revenue growth was 4.5% reported and 3.9% organic, with Specialty Therapies showing a flat organic result.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Cardiovascular Portfolio | $3436000.0B | $3102000.0B | +10.8% | 38.5% |
Neuroscience Portfolio | $2562000.0B | $2451000.0B | +4.5% | 28.7% |
Medical Surgical Portfolio | $2171000.0B | $2128000.0B | +2.1% | 24.3% |
Diabetes | $757000.0B | $686000.0B | +10.3% | 8.5% |
| Total Revenue | $8926000.0B | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Delivered a strong second quarter with both revenue and EPS beating expectations.
Procedure volumes and end markets are robust, with good execution across the business.
Positioned for even greater acceleration of revenue growth in the back half of the year and beyond.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.