secwatch.observer — SEC 8-K summary
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Issuer:     Medtronic plc (MDT)
CIK:        0001613103
Form:       8-K
Filed at:   2022-11-22T23:59:59+00:00
Accession:  0001613103-22-000058
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Medtronic Q2 FY2023 revenue down 3%; lowers FY2023 EPS guidance to $5.25-$5.30
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- Revenue $7.585B, organic growth +2%; GAAP EPS $0.32 (down 67%), non-GAAP EPS $1.30 (down 2%).
- FY2023 non-GAAP EPS guidance cut to $5.25-$5.30; H2 organic revenue growth expected 3.5%-4.0%.
- Tax reserve adjustment of $764M from U.S. Tax Court opinion weighed on GAAP earnings.
- Segment organic growth: Cardiovascular +4%, Medical Surgical -3%, Neuroscience +5%, Diabetes +3%.
- CEO cites slower procedure/supply recovery; executing cost reductions and supply chain improvements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1613103/000161310322000058/0001613103-22-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1613103/000161310322000058/mdt-20221122.htm
  HTML page:      https://secwatch.observer/filing/0001613103-22-000058

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