Medtronic Plc. · NYSE:MDT
Medtronic — Q1 FY27 Earnings Presentation
24 slides from Medtronic's earnings presentation, Sep 1, 2026
Slide 1: Earnings Q1 FY27
Earnings Q1 FY27 | September 1, 2026 Contact: investor.relations@medtronic.com
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to competitive factors, difficulties and delays inherent in the developme
Slide 3: Executive Summary
Q1 FY27 Executive Summary Executive Summary Portfolio Highlights Guidance & Assumptions Impact Appendix Stealth AXiS Surgical System Earnings Report | Q1 FY27
Slide 4: Q1 FY27 Highlights
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Q1 FY27 Highlights Strong Q1 results demonstrate the breadth and durability of growth; reinforces confidence in FY27 outlook “ Revenue growth of 13.7% organic, strongest quarterly performance in nearly 8 years ex-
Slide 5: Q1 FY27 Financial Summary
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Q1 FY27 Financial Summary 9.8B 2.3B 1.45 Revenue Adj. Operating Profit Adj. Diluted EPS $ $ $ +13.7% reported +14.9% Y/Y +15.1% Y/Y +13.7% organic Revenue Revenue by geography Cardiovascular: $3,927M; +18.9% organi
Slide 6: Financial Highlights: Q1 FY27 Adjusted Income Statement
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Q1 FY27 Adjusted Income Statement ($ in millions)1 Q1 FY27 Q1 FY26 Y/Y Growth / Financial Highlights Change Revenue 9,756 8,539 +14.2% Organic revenue growth +13.7% • Adj. gross margin +10 bps; Gross Margin 65.2% 6
Slide 7: Q1 FY27 Portfolio Highlights
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Q1 FY27 Portfolio Highlights 19% growth Y/Y; CAS delivered 88% growth Y/Y, gaining 9 points of U.S. share; Cardiovascular CRM share gains with mid-teens growth in both high- and low-power 9% growth Y/Y; CST grew 13
Slide 8: Operational Highlights
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Operational Highlights GAiTEWAY Stealth AXiS SPR Therapeutics PulseSelect System Onyx 12 Liquid Software Platform for Surgical System Completed acquisition; Launched in India, Embolic System AiBLE Ecosystem address
Slide 9: M&A; Strategic Investments & Partnerships
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix M&A; Strategic Investments & Partnerships Acquisitions Strategic Investments and Partnerships Completed June 2026 Reimagines neurovascular guidewires through the development of larger, more advanced guidewire techn
Slide 10: Portfolio Highlights
Q1 FY27 Portfolio Highlights Executive Summary Portfolio Highlights Guidance & Assumptions Impact Appendix Affera Mapping System and Sphere-9 PF and RF Ablation and Mapping Catheter Earnings Report | Q1 FY27
Slide 11: Cardiovascular
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Cardiovascular 19% growth Y/Y; CAS delivered 88% growth Y/Y, gaining 9 points of U.S. share; CRM share gains with mid-teens growth in both high- and low-power Electrophysiology Therapies Cardiac Rhythm Management:
Slide 12: Neuroscience
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Neuroscience 9% growth Y/Y; CST grew 13% including mid-teens Core Spine growth; Neurosurgery grew mid-teens including high-20s growth in Navigation on Stealth AXiS launch Cranial & Spinal Technologies Cranial & Spi
Slide 13: Medical Surgical
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Medical Surgical 10% growth Y/Y; 9% Surgical and 14% Acute Care & Monitoring growth; Received FDA clearance for Touch Surgery Aide Surgical & Endoscopy Surgical: HSD growth driven by continued strength in LigaSure
Slide 14: Diabetes
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Diabetes Strong double digit organic revenue growth to start the year driven by U.S. growth acceleration and continued robust International growth United States • Double digit growth on strength of MiniMed Flex wit
Slide 15: Guidance & Assumptions
FY27 Guidance & Assumptions Executive Summary Portfolio Highlights Guidance & Assumptions Impact Appendix Symplicity Spyral Renal Denervation System Earnings Report | Q1 FY27
Slide 16: Guidance and assumptions
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Guidance and assumptions FY27 Revenue Organic revenue Implied FY27 FY26 base FX1 growth guidance adjusted revenue range FY26 Adjusted $36,325M Q4 Earnings Call 6.75% to 7.25% Flat to $100M headwind ~$38.7B to $39.0
Slide 17: Impact
Q1 FY27 Impact Executive Summary Portfolio Highlights Guidance & Assumptions Hugo Robotic Assisted Impact Surgery System with ICG and Touch Surgery Appendix Earnings Report | Q1 FY27
Slide 18: Leading in engagement, citizenship, and innovation
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Leading in engagement, citizenship, and innovation Ethisphere Dow Jones Sustainability Index Fast Company Just Capital One of the 2026 World's DJSI World Index for Named to list of the World’s Most One of America’s
Slide 19: Near and long-term sustainability objectives
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Near and long-term sustainability objectives Progress key: Achieved Robust governance structures and processes In progress underpin our sustainability strategy Key issue Target Baseline End FY25 date date status Pr
Slide 20: Appendix
Q1 FY27 Appendix Executive Summary Portfolio Highlights Guidance & Assumptions Impact Appendix Altaviva Implantable Tibial Neuromodulation System Earnings Report | Q1 FY27
Slide 21: Q1 FY27 GAAP to non-GAAP reconciliations
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Q1 FY27 GAAP to non-GAAP reconciliations Acquisition (Gain) / Loss on Q1 FY27 and Certain Tax Q1 FY27 Q1 FY26 Y/Y Growth / Amortization Restructuring Minority GAAP Divestiture- Adjustments Non-GAAP Non-GAAP Change
Slide 22: Cardiovascular reporting changes – Historical revenue recast
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Cardiovascular reporting changes – Historical revenue recast FY25 FY26 Worldwide Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Electrophysiology Therapies $1,535 $1,578 $1,545 $1,733 $6,392 $1,712 $1,825 $1,856 $2,110 $7,504 Inter
Slide 23: Medtronic business structure
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Medtronic business structure Cardiovascular Neuroscience Medical Surgical Diabetes Other Electrophysiology Therapies Cranial & Spinal Technologies Surgical & Endoscopy Therapies and services for Includes operations
Slide 24: Abbreviations & acronyms
Executive Summary | Portfolio Highlights | Guidance & Assumptions | Impact | Appendix Abbreviations & acronyms Growth Business specific Business specific Other Generally Accepted Accounting CC Constant Currency Adj Adjusted ICD Implantable Cardioverter Defibrillator GAAP Principles LSD Low-single di