Medtronic posts FY22 rev +5%, Q4 adj EPS +2%; hikes dividend 8%, forms kidney JV with DaVita

Medtronic plc

FY22 revenue $31.686B, +5% reported and organic; Q4 revenue $8.1B, -1% reported, +1% organic.
Q4 GAAP diluted EPS $1.10 (+10%), non-GAAP diluted EPS $1.52 (+2%); FY22 GAAP diluted EPS $3.73 (+40%).
Quarterly dividend raised to $0.68 from $0.63 (+8%); annual $2.72; 45th consecutive year of increases.
Medtronic and DaVita form equally-owned kidney device JV; Medtronic contributes RCS ($325M FY22 rev). DaVita pays up to $400M value. Close expected calendar 2023.
FY23 guidance issued; no material adjusted EPS impact from JV in current or near-term fiscal years.

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