secwatch.observer — SEC 8-K summary
======================================

Issuer:     Medtronic plc (MDT)
CIK:        0001613103
Form:       8-K
Filed at:   2022-08-23T23:59:59+00:00
Accession:  0001613103-22-000034
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Medtronic Q1 FY2023 revenue $7.37B (-4% organic) beats guidance; non-GAAP EPS $1.13 in line
--------------------------------------------------------------------------------

- GAAP diluted EPS $0.70 (+25% YoY); non-GAAP diluted EPS $1.13 (-17% YoY), in line with expectations.
- Revenue $7.371B, down 8% as reported (-4% organic), ahead of guidance; organic excludes $351M FX and $20M Intersect ENT.
- Cardiovascular -1% organic, Medical Surgical -9% organic, Neuroscience -2% organic, Diabetes flat organic.
- FY2023 guidance reiterated: organic revenue growth 4-5%, non-GAAP EPS $5.53-$5.65; FX headwind raised to $1.4-$1.5B.
- Strength in Pacing (mid-teens Micra), Core Spine in US, CGM in Europe; ventilators declined low-fifties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1613103/000161310322000034/0001613103-22-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1613103/000161310322000034/mdt-20220823.htm
  HTML page:      https://secwatch.observer/filing/0001613103-22-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer