Medtronic Plc. · NYSE:MDT
Medtronic — Q3 FY25 Earnings Presentation
23 slides from Medtronic's earnings presentation, Feb 18, 2025
Slide 1: Q3 FY25 Earnings Presentation
Q3 FY25 Earnings Presentation February 18, 2025 1
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: Table of contents
Table of contents Executive Summary Portfolio Highlights Guidance Assumptions Impact Appendix Executive Portfolio Guidance & Impact Appendix Summary Highlights Assumptions
Slide 4: Executive Summary
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Q3 FY25 Executive Summary
Slide 5: Q3 FY25 Highlights
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Q3 FY25 Highlights Delivering durable revenue growth with strong earnings power; strength in PFA, Pacing, Stru
Slide 6: Q3 FY25 Financial summary
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Q3 FY25 Financial summary YTD Revenue Adj. Diluted EPS Operating Cash Flow $1.39 $4.5B $8.3B Free Cash Flow1 +
Slide 7: Q3 FY25 Income statement
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Q3 FY25 Income statement Gross Margin ($ in millions)1 Q3 FY24 Q3 FY25 Y/Y 66.6% Revenue $8,089 $8,292 +2.5% O
Slide 8: Key product approvals
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Key product approvals Recent rapid cadence of meaningful innovative approvals; ~120 product approvals in last
Slide 9: Portfolio Highlights
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Q3 FY25 Portfolio Highlights
Slide 10: Cardiovascular
Cardiovascular 20% CPV | $618M MSD growth driven by strong performance in PFA, TAVR, Cardiac Pacing, and Cardiac Surgery $3,037M +0.3% Y/Y Rep +1.6% Y/Y Org Cardiac Rhythm & Heart Failure (CRHF) +3.7% Y/Y Rep +5.0% Y/Y Org • Cardiac Pacing Therapies: LDD growth; mid-20s Micra growth driven by contin
Slide 11: Neuroscience
Neuroscience 30% MSD growth driven by strong performances in Neuromodulation and US Cranial & Spinal Technologies ST | $732M +0.8% Y/Y Rep $2,458M +1.9% Y/Y Org Cranial & Spinal Technologies (CST) +4.4% Y/Y Rep +5.2% Y/Y Org • Core Spine: LSD WW growth, including MSD US growth on continued adoption
Slide 12: Medical Surgical
Medical Surgical 23% Flat results with strength in Advanced Energy and Hernia offset by change in US distributor buying $2,072M ACM | $476M (3.9%) Y/Y Rep patterns in Surgical; continued progress on US Hugo studies (2.8%) Y/Y Org (1.9%) Y/Y Rep Surgical & Endoscopy (SE) (0.4%) Y/Y Org • Surgical LSD
Slide 13: Diabetes
Diabetes 66% Fifth quarter of double-digit growth driven by strength of MiniMed 780G system and market adoption International $694M of Automatic Insulin Delivery (AID) Markets +8.4% Y/Y Rep +10.4% Y/Y Org United States MSD growth on the continued adoption of the MiniMed 780G AID system driven by new
Slide 14: Fiscal Year 2025 Guidance & Assumptions
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Fiscal Year 2025 Guidance & Assumptions 14
Slide 15: Guidance and assumptions
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Guidance and assumptions Organic Implied FY25 FY24 base revenue growth FX1 Inorganic Other2 adjusted REVENUE g
Slide 16: Impact
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Impact
Slide 17: Leading in engagement, citizenship & innovation
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Leading in engagement, citizenship & innovation Dow Jones Sustainability Index Ethisphere 3BLnews Just Capital
Slide 18: Near and long-term sustainability objectives
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Near and long-term sustainability objectives Progress key: Robust governance structures and processes underpin
Slide 19: Appendix
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Appendix
Slide 20: Q3 FY25 GAAP to non-GAAP reconciliations
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Q3 FY25 GAAP to non-GAAP reconciliations Acquisition and (Gain) / Loss on Q3 FY25 Certain Litigation Medical D
Slide 21: Medtronic business structure
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Medtronic business structure Cardiovascular Neuroscience Medical Surgical Diabetes Other Learn more Learn more
Slide 22: Abbreviations & acronyms
Table of Executive Portfolio Guidance & Table of Contents Portfolio Highlights Guidance Assumptions Executive Summary Impact Appendix Impact Appendix Contents Summary Highlights Assumptions Abbreviations & acronyms Growth Business specific Business specific Other CC Constant Currency AAA Abdominal A
Slide 23: Investor Relations contact information
Investor Relations contact information Ryan Weispfenning Brad Welnick Vice President, Vice President, Head of Investor Relations Investor Relations and FP&A investor.relations@medtronic.com 23 Q3 FY25 Earnings Presentation | February 18, 2024