Medtronic plc Beats Q2 Expectations, Raises Fiscal 2026 Guidance
Medtronic plc (NYSE:MDT) reported second-quarter fiscal 2026 results on Tuesday that exceeded analyst expectations for earnings and revenue. The medical device company also raised its full-year financial outlook.
Adjusted earnings per share came in at $1.36, surpassing the consensus estimate of $1.31. Revenue totaled $9 billion, above expectations of $8.87 billion and up 6.6% year-over-year, or 5.5% on an organic basis.
The Cardiovascular Portfolio led companywide growth, reporting a 10.8% revenue increase. Cardiac Ablation Solutions revenue jumped 71%, including 128% growth in the U.S., driven by demand for its pulsed field ablation products. This marked Medtronic's strongest cardiovascular revenue performance in over a decade, excluding pandemic distortions.
Based on its first-half momentum, Medtronic raised its fiscal 2026 organic revenue growth forecast to approximately 5.5%, up from 5.0%. The company also increased its full-year adjusted EPS guidance to $5.62-$5.66, compared with the prior range of $5.60-$5.66, aligning with the analyst consensus of $5.62.
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