Third-quarter earnings, excluding one-off items, declined to $1.36 per share from $1.39 per share in the year-ago quarter, but came in above estimates. On an unadjusted basis, net profit was $1.14 billion or $0.89 per share in Q3, versus $1.29 billion or $1.01 per share in Q3 2025.
Total revenues grew 8.7% year-over-year to $9.0 billion during the three months, in line with estimates. Revenues of the Cardiovascular and Neuroscience segments increased by 13.8% and 4.1% respectively.
Thierry Piéton, Medtronic’s CEO, said, “ We continued to invest in R&D to strengthen our innovation pipeline, funded significant growth opportunities while driving G&A leverage, and we executed on our M&A and venture strategy with two key transactions in the quarter. Bottom line, we are executing on our roadmap and positioning the business for sustainable growth.”
Management reaffirmed its FY26 organic revenue growth forecast of 5.5% and adjusted earnings per share guidance of $5.62 to $5.66. Excluding the potential impact from tariffs, the guidance represents FY26 earnings per share growth of approximately 4.5%.