Medtronic plc (MDT) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and thanks for joining us today for our Fiscal 26 Second Quarter Video Earnings webcast. I'm Ryan Weissfenning, Vice President and Head of Medtronic Investor Relations. Joining me here today are Jeff Martha, Chairman and Chief Executive Officer, and Thierry Piatone, Chief Financial Officer. Jeff and Thierry will provide comments on the results of our second quarter, which ended on October 24, 2025, and our outlook for the remainder of Fiscal Year 26. After our prepared remarks, we'll take questions from the sell-side analysts that cover the company. Today's program should last about an hour. Earlier this morning, we issued a press release discussing our results and containing several financial schedules. We also posted an earnings presentation that provides additional details on our performance. The presentation can be accessed in our earnings press release or on our website at investorrelations.medtronic.com. During today's program, many of the statements we make may be considered forward-looking statements, and actual results may differ materially from those projected in any forward-looking statement. Additional information concerning factors that could cause our actual results to differ is contained in our periodic reports and other filings that we make with the SEC, and we do not undertake to update any forward-looking statement. Unless we say otherwise, all comparisons are on a year-over-year basis, and revenue comparisons are made on an organic basis, which excludes the impact of foreign exchange, second quarter revenue in the current and prior year from our divestiture this quarter of the Dutch Obesity Clinic, also known as NOK, and second quarter revenue in the current and prior year reported as OTHER. References to sequential revenue changes...