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Jan 24, 2025
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).
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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