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Medtronic (MDT)
NYSE:MDT
Earnings Data
Report Date
May 20, 2026Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
1.67Last Year’s EPS
1.62Same Quarter Last Year
Moderate Buy
Based on 19 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents materially more positive operational and financial developments than negatives: strong top-line beat, multiple high-growth product franchises showing early traction (CAS/PFA, CRM products, MiniMed), regulatory approvals and early commercialization wins (Hugo, Stealth AXiS), and improved margins and EPS above guidance. Headwinds include mix-related gross margin pressure from early-stage launches, tariff and tax impacts, some softer neuroscience and surgical subsegments, and temporary dilution around the MiniMed separation and M&A. Management provided quantified guidance on tariff impacts and reiterated fiscal guidance while outlining a clear path for margin recovery and growth investments.Company Guidance
Strong Top-Line Performance
Revenue of $9.0 billion, up 8.7% reported and 6% organic year-over-year; 50 basis points acceleration from the prior quarter and 50 basis points above guidance.
Cardiovascular Portfolio Strength
Cardiovascular revenue grew 11% year-over-year (13% in the U.S.). CAS (pulmonary vein ablation related) grew 80% year-over-year, with PFA accounting for 80% of CAS revenue.
Cardiac Rhythm Management Momentum
CRM represented 15% of total revenue and grew 5% driven by continued double-digit Micra growth, mid-teens growth in the 3830 CSP lead, and over 70% growth in Aurora EV ICD.
Diabetes (MiniMed) Outperformance and Separation Progress
MiniMed delivered 15% reported and over 8% organic growth, led by double-digit international growth and U.S. acceleration from recent Simplera Sync and Instinct launches. Multiple FDA clearances expanded 780G indications; 780G now available through pharmacy to cover majority of commercially insured U.S. lives. Planned separation (IPO + split) remains on track for completion by end of calendar 2026.
Simplicity (Renal Denervation) Early Demand Signals
Direct-to-consumer Go Beyond campaign produced a ~50x increase in website visits versus the prior quarter (cited increase from ~50,000 to ~2.5 million visits between earlier quarter and Q3), >200 new accounts opened, ~150 physicians on Physician Finder and ~100 million covered lives for Ardian—strong leading indicators of market build.
Altaviva Launch Traction
Altaviva tibial neurostimulation receiving strong early physician/patient interest; device offers up to 15 years battery life, MRI-ready, no imaging/sedation; training of 500+ physicians underway to support rollout.
Hugo Robot U.S. Clearance and Early Installations
Hugo received FDA clearance for urologic procedures and completed first U.S. installations and initial cases (Cleveland Clinic). Touch Surgery installations increased >20% sequentially and surpassed 1,000 systems globally.
Stealth AXiS Approval for Spine Robotics/Navigation
FDA clearance secured for Stealth AXiS surgical system unifying AI-powered planning, robotics and navigation; navigation currently drives ~70% of U.S. spine procedures and Stealth AXiS expected to contribute to Neurosurgery/CST as soon as Q4.
Margins, EPS and Financial Discipline
Adjusted gross margin of 64.9% and adjusted operating margin of 24.1%, both ahead of expectations. Adjusted EPS $1.36, $0.03 above the midpoint of guidance. Adjusted SG&A leveraged to 32.3% of revenue, down 30 basis points year-over-year while funding targeted launches and marketing.
Reiterated Guidance and Outlook
Reiterated fiscal '26 organic revenue growth guidance of ~5.5% and expects Q4 growth similar to Q3 (~6%). Company maintains expectation for high single-digit EPS growth in fiscal year '27 and expects fiscal '26 adjusted operating profit to grow ~5% (7% excluding tariffs).
MDT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MDT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 17, 2026 | $99.49 | $96.41 | -3.10% |
Nov 18, 2025 | $95.58 | $100.06 | +4.69% |
Aug 19, 2025 | $91.44 | $88.57 | -3.14% |
May 21, 2025 | $84.39 | $82.48 | -2.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Medtronic (MDT) report earnings?
Medtronic (MDT) is schdueled to report earning on May 20, 2026, Before Open (Confirmed).
What is Medtronic (MDT) earnings time?
Medtronic (MDT) earnings time is at May 20, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MDT EPS forecast?
MDT EPS forecast for the fiscal quarter 2026 (Q4) is 1.67.
