More from MDT Q1 2027

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.

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.

$9.8B revenue; $1.45 EPS

First-quarter revenue and EPS exceeded expectations

Management said both revenue and adjusted EPS were well ahead of expectations, with EPS $0.06 above the midpoint of guidance and Street expectations.

More from MDT Q1 2027

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.

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.

$9.8B revenue; $1.45 EPS

First-quarter revenue and EPS exceeded expectations

Management said both revenue and adjusted EPS were well ahead of expectations, with EPS $0.06 above the midpoint of guidance and Street expectations.

Medtronic plc Earnings Quote from Mike Marinaro

More from MDT Q1 2027