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Oct 29, 2021
Medtronic Q2 2022 Earnings Report
Medtronic's financial performance reflected focused execution of strategy and strong underlying health, despite market challenges.
Key Takeaways
Medtronic reported a 3% increase in revenue to $7.8 billion, with organic revenue growth of 2%. GAAP diluted EPS increased by 169% to $0.97, while non-GAAP diluted EPS increased by 29% to $1.32. The company is reiterating its full year EPS guidance.
Revenue increased 3% reported and 2% organic.
GAAP diluted EPS of $0.97; non-GAAP diluted EPS of $1.32.
Company continued to launch new products and win share.
Market procedure volumes were impacted by COVID-19 resurgence.
Medtronic
Medtronic
Medtronic Revenue by Segment
Medtronic Revenue by Geographic Location
Revenue by Segment
Cardiac Rhythm & HF Revenue
CapyFin.comStructural Heart & Aortic Revenue
CapyFin.comCoronary & Peripheral Vascular Revenue
CapyFin.comCranial & Spinal Technologies Revenue
CapyFin.comSpecialty Therapies Revenue
CapyFin.comNeuromodulation Revenue
CapyFin.comSurgical & Endoscopy Revenue
CapyFin.comAcute Care & Monitoring Revenue
CapyFin.comDiabetes Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
The company now expects fiscal year 2022 revenue growth of 7-8% on an organic basis versus the prior expectation of approximately 9%. The company reiterated its fiscal year 2022 diluted non-GAAP EPS guidance range of $5.65 to $5.75.
Positive Outlook
- Focused execution of strategy
- Strong underlying health of the business
- Continued advancement of pipeline
- Launch of new products
- Grew share in the majority of businesses
Challenges Ahead
- Greater-than-expected market impact of the pandemic
- Healthcare system staffing challenges
- Expected to continue into the second half of the fiscal year
- Affected quarterly revenue growth
- Markets to continue to be affected by the pandemic in the second half of our fiscal year
Revenue & Expenses
Visualization of income flow from segment revenue to net income