earnings
confidence high
sentiment neutral
materiality 0.70
Medtronic Q3 FY2022 revenue flat at $7.8B; GAAP EPS $1.10 (+17%), non-GAAP EPS $1.37 (+6%)
Medtronic plc
2022-Q3 EPS reported
$2.63
revenue$23,597,000,000
- Revenue $7.763B flat YoY; organic growth 2%; COVID-19 impact on U.S. procedure volumes.
- GAAP diluted EPS $1.10 (+17%); non-GAAP diluted EPS $1.37 (+6%), a penny above consensus.
- Q4 guidance: organic revenue growth ~5.5%; non-GAAP EPS $1.56-$1.58.
- Diabetes segment revenue down 7% as reported (-5% organic) driven by U.S. declines.
- Cardiovascular up 3% organic; Medical Surgical up 1% organic; Neuroscience up 2% organic.