Medtronic raises FY27 guidance after revenue reaches $9.8 billion

  • Medtronic reported fiscal first-quarter results and raised its FY27 financial guidance.
  • $9.756 billion in revenue increased 13.7% on reported and organic bases.
  • The extra fiscal week was estimated to add approximately $570 million to organic growth.

Medtronic reported fiscal first-quarter 2027 revenue of $9.756 billion, up 13.7% both as reported and organically, and raised its full-year organic revenue and diluted non-GAAP EPS guidance. Non-GAAP diluted EPS was $1.45, ahead of guidance, while GAAP diluted EPS was $1.14. Cardiovascular revenue increased 18.9% organically, Neuroscience rose 9.3%, Medical Surgical advanced 10.2%, and Diabetes grew 14.9%. The quarter included an extra fiscal week, which Medtronic estimated contributed approximately $570 million to organic growth. The company expanded CE Mark indications for the Affera Mapping and Ablation System and Sphere-9 Catheter, invested in Pi-Cardia, partnered with Cornerstone Robotics, received FDA clearance for Touch Surgery Aide, and completed acquisitions of Scientia Vascular and SPR Therapeutics. FY27 organic revenue growth guidance was lifted to 7.25% to 7.75% from 6.75% to 7.25%, while diluted non-GAAP EPS guidance increased to $5.94 to $6.00 from $5.90 to $6.00. Medtronic said the guidance includes an estimated neutral to 1% accretive foreign-exchange effect based on recent rates. The company also said its Diabetes separation is expected to use capital-markets transactions, with a split-off currently preferred but no final decision reached.

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Medtronic raises FY27 guidance after revenue reaches $9.8 billion - CoinPost Terminal