Medtronic
🇮🇪 NYSE:MDT
•
Jan 24
Medtronic Q3 2025 Earnings Report
Medtronic Q3 2025 Earnings Report
Key Takeaways
Medtronic reported revenue growth of 2.5% YoY, with strong performance in Pulsed Field Ablation, Neuromodulation, and Diabetes. Adjusted EPS grew 7% YoY, driven by operating margin expansion. The company reiterated its full-year guidance.
Revenue grew 2.5% YoY to $8.29 billion (+4.1% organic).
Adjusted EPS increased 7% YoY to $1.39.
Strong growth in Pulsed Field Ablation, Neuromodulation, and Diabetes.
Operating margin improved to 19.9% (+1.6pp YoY).
Medtronic Revenue
Medtronic EPS
Medtronic Revenue by Segment
Medtronic Revenue by Geographic Location
Forward Guidance
Medtronic reiterated its full-year revenue and EPS guidance, expecting continued organic growth and operational improvements.
Positive Outlook
- FY25 organic revenue growth expected at 4.75% - 5.0%.
- FY25 adjusted EPS guidance remains $5.44 - $5.50.
- Continued strong adoption of innovative products like Pulsed Field Ablation.
- Operational efficiency improvements contributing to margin expansion.
- Growing U.S. presence in carotid and renal denervation markets.
Challenges Ahead
- Foreign currency expected to negatively impact reported revenue by ~1.4pp.
- Stapling pressures and distributor buying patterns affecting Medical Surgical segment.
- Declining Nellcor™ product sales due to lower respiratory-related hospitalizations.
- Ongoing restructuring costs and litigation expenses impacting net income.
- Competitive pressures in global MedTech markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income