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Medtronic
🇮🇪 NYSE:MDT
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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.

Total Revenue
$8.59B
Previous year: $8.54B
+0.5%
EPS
$1.46
Previous year: $1.57
-7.0%
Total Organic Revenue Growth
5.4%
Gross Profit
$5.2B
Previous year: $5.56B
-6.6%
Cash and Equivalents
$1.28B
Previous year: $1.54B
-16.8%
Free Cash Flow
$5.2B
Previous year: $2.08B
+149.8%
Total Assets
$90B
Previous year: $90.9B
-1.1%

Medtronic

Medtronic

Medtronic Revenue by Segment

Medtronic Revenue by Geographic Location

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

Company Overview

Full financial data and analysis

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