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Apr 26, 2024
Medtronic Q4 2024 Earnings Report
Medtronic's Q4 2024 earnings were reported, featuring revenue of $8.6 billion, EPS of $0.49, and non-GAAP EPS of $1.46. The company experienced broad-based growth across multiple segments and issued FY25 guidance.
Key Takeaways
Medtronic reported Q4 worldwide revenue of $8.589 billion, a 0.5% increase as reported and a 5.4% increase on an organic basis. GAAP diluted EPS was $0.49, while non-GAAP diluted EPS was $1.46. The company's organic revenue results reflect broad-based growth across the company, with mid-single digit or higher organic revenue growth in all four segments.
Q4 revenue increased 0.5% as reported and 5.4% organic.
Q4 GAAP diluted EPS was $0.49, and non-GAAP diluted EPS was $1.46.
FY24 revenue increased 3.6% as reported and 5.2% organic.
The company issued FY25 guidance and increased the dividend to $0.70 per share quarterly.
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.comOther Segment Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
The company is guiding to FY25 organic revenue growth in the range of 4% to 5%. The company is guiding to FY25 diluted non-GAAP EPS in the range of $5.40 to $5.50, including an estimated 5% unfavorable impact from foreign currency exchange based on recent rates.
Positive Outlook
- FY25 organic revenue growth is expected to be in the range of 4% to 5%.
- FY25 revenue growth on a reported basis would be in the range of 2.4% to 3.7%.
- FY25 diluted non-GAAP EPS is projected to be between $5.40 and $5.50.
- This represents FY25 diluted non-GAAP EPS growth in the range of 4% to 6%.
- The company remains committed to returning a minimum of 50% of its free cash flow to shareholders.
Challenges Ahead
- FY25 diluted non-GAAP EPS includes an estimated 5% unfavorable impact from foreign currency exchange based on recent rates.
- Organic revenue growth guidance excludes the impact of foreign currency exchange and revenue reported as Other.
- Forward-looking diluted non-GAAP EPS guidance excludes other potential charges or gains that would be recorded as Non-GAAP Adjustments to earnings during the fiscal year.
- The combined impact and timing of recognition of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts.
- Such items could have a substantial impact on GAAP measures of financial performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income