Medtronic plc: Medtronic Builds A Multi-Platform Electrophysiology Ecosystem Around CAS

Medtronic plc 2027 Q1: Financial Performance summary

• Adjusted EPS was $1.45, $0.06 above the midpoint of guidance and Street expectations.
• Adjusted gross margin was 65.2%, up 10 basis points year over year, while adjusted operating margin was 23.7%, also up 10 basis points.
• Adjusted operating profit increased 15% to $2.3 billion, and free-cash-flow conversion was 70% in Q1.
• Cardiovascular grew 19%, including 25% growth in the U.S. and 14% internationally; Electrophysiology Therapies grew 29%.
• CRM grew 15% globally and gained 80 basis points of global share, while CAS grew 88% worldwide and 139% in the U.S.
• CST grew 13%, Surgical grew 9%, Pelvic Health grew 15%, Medical Surgical grew 10%, Neuroscience grew 9%, and Diabetes grew 15%.
• Growth was broad-based geographically, with revenue up nearly 16% in the U.S. and 12% internationally.
• Q1 fiscal 2027 revenue was $9.8 billion, up 13.7% on both a reported and organic basis; the extra selling week contributed approximately $570 million, or 670 basis points, of organic growth.