The earnings call demonstrated consistent revenue growth, increased guidance, and strong performance in key segments like diabetes and structural heart. However, challenges such as supply chain interruptions and currency headwinds were noted. Overall, the positive aspects, such as innovation-driven growth and a raised outlook, outweigh the negatives.

Company Guidance

In the Q2 2025 earnings call for Medtronic, the executives provided guidance highlighting a consistent trajectory of mid-single-digit organic revenue growth, projected at 4.75% to 5% for the full fiscal year. This growth is expected to translate into high single-digit EPS growth on a reported basis, with specific figures for the fiscal year set between $5.44 to $5.50, up from previous estimates. The revenue growth was driven by strong performances across various segments, such as diabetes, neuroscience, and cardiovascular, with the diabetes segment alone showing an 11% increase. The executives also emphasized the impact of innovation, including products like Evolut FX+ in Structural Heart and PulseSelect in Cardiac Ablation. For Q3, the company anticipates organic revenue growth of approximately 4.75%, with an expected EPS of $1.35 to $1.37. The call outlined plans to continue leveraging their scale, enhancing operational efficiencies, investing in emerging growth drivers, and pursuing strategic tuck-in M&A to sustain momentum and create long-term shareholder value.

Continuous Strong Revenue Growth

Achieved 5% organic revenue growth for the quarter, marking the eighth consecutive quarter of mid-single-digit growth. This has contributed to an 8% EPS growth on a constant currency basis.

Increased Guidance

Raised full-year revenue and EPS guidance, with expectations of continued high single-digit EPS growth in the back half of the fiscal year.

Diabetes Segment Performance

Diabetes segment grew by 11% with a 20% increase in CGM sales. Recent product innovations like the 780G system are driving patient satisfaction and growth.

Successful Pulse Field Ablation Expansion

Cardiac Ablation Solutions grew via increased adoption of PulseSelect PFA catheters, countering cryoablation declines.

Structural Heart Business Growth

Structural Heart grew high single digits, driven by the TAVR franchise with new product launches and positive trial results.

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Medtronic (MDT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MDT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 18, 2025	2025 (Q3)	1.36 / -	1.3	―	―	―
Nov 19, 2024	2025 (Q2)	1.25 / 1.26	1.25	0.80% (+0.01)
Aug 20, 2024	2025 (Q1)	1.20 / 1.23	1.2	2.50% (+0.03)
May 23, 2024	2024 (Q4)	1.45 / 1.46	1.57	-7.01% (-0.11)
Feb 20, 2024	2024 (Q3)	1.26 / 1.30	1.3	0.00% (0.00)
Nov 21, 2023	2024 (Q2)	1.18 / 1.25	1.3	-3.85% (-0.05)
Aug 22, 2023	2024 (Q1)	1.11 / 1.20	1.13	6.19% (+0.07)
May 25, 2023	2023 (Q4)	1.55 / 1.57	1.52	3.29% (+0.05)
Feb 21, 2023	2023 (Q3)	1.27 / 1.30	1.37	-5.11% (-0.07)
Nov 22, 2022	2023 (Q2)	1.28 / 1.30	1.32	-1.52% (-0.02)

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

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MDT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 19, 2024	$87.59	$85.00	-2.96%
Aug 20, 2024	$84.16	$84.71	+0.65%
May 23, 2024	$84.34	$80.03	-5.11%
Feb 20, 2024	$82.34	$83.73	+1.69%

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.

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