More from MDT Q1 2027

Medtronic plc

MDT2027 Q1Healthcare

Medtronic Builds A Multi-Platform Electrophysiology Ecosystem Around CAS

Cardiac Ablation Solutions grew 88% worldwide and 139% in the U.S. during Q1.
Sphere-9 generated a nine-point increase in U.S. share and remains relatively early in its launch cycle.
The company is expanding beyond the core therapy into mapping, ICE catheters, focal-ablation software, and single-shot innovation.
Sphere-9 received CE Mark approval for ventricular arrhythmias, including ventricular tachycardia, and a U.S. VT pivotal trial is enrolling.
Sphere-360 is beginning to gain traction in Europe, while the Affera installed base grew more than 35% sequentially in the U.S.

Medtronic plc

MDT2027 Q1Healthcare

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.

Medtronic plc

MDT2027 Q1Healthcare

This is an opportunity for us to build out a portfolio of offerings that really meets the customer need and the specifics of the customer situation very well where they sit.

Mike Marinaro

Context

Mike Marinaro was explaining the customer rationale for the Cornerstone distribution and partnership agreement. Cornerstone's Sentire system is intended to complement Hugo in selected international markets. Management said the broader portfolio should expand access to robotic surgery while accommodating different customer needs and market conditions.

More from MDT Q1 2027

Medtronic plc

MDT2027 Q1Healthcare

Medtronic Builds A Multi-Platform Electrophysiology Ecosystem Around CAS

Cardiac Ablation Solutions grew 88% worldwide and 139% in the U.S. during Q1.
Sphere-9 generated a nine-point increase in U.S. share and remains relatively early in its launch cycle.
The company is expanding beyond the core therapy into mapping, ICE catheters, focal-ablation software, and single-shot innovation.
Sphere-9 received CE Mark approval for ventricular arrhythmias, including ventricular tachycardia, and a U.S. VT pivotal trial is enrolling.
Sphere-360 is beginning to gain traction in Europe, while the Affera installed base grew more than 35% sequentially in the U.S.

Medtronic plc

MDT2027 Q1Healthcare

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.

Medtronic plc

MDT2027 Q1Healthcare

This is an opportunity for us to build out a portfolio of offerings that really meets the customer need and the specifics of the customer situation very well where they sit.

Mike Marinaro

Context

Medtronic plc: First-quarter revenue and EPS exceeded expectations

More from MDT Q1 2027

Medtronic plc 2027 Q1: Medtronic Builds A Multi-Platform Electrophysiology Ecosystem Around CAS

Medtronic plc 2027 Q1: Financial Performance summary

More from MDT Q1 2027

More from MDT Q1 2027

Medtronic plc 2027 Q1: Medtronic Builds A Multi-Platform Electrophysiology Ecosystem Around CAS

Medtronic plc 2027 Q1: Financial Performance summary