Medtronic Q1 revenue $7.7B (+6% organic); raises FY24 guidance

Medtronic plc

2024-Q1 EPS reported $0.59 revenue$7,702,000,000

Revenue $7.70B, +4.5% reported, +6.0% organic; GAAP EPS $0.59 (-16%), non-GAAP EPS $1.20 (+6%).
FY24 organic revenue growth guidance raised to 4.5% (from 4.0-4.5%); non-GAAP EPS guidance raised to $5.08-$5.16 (from $5.00-$5.10).
All four segments delivered 6% organic growth: Cardiovascular +6.2%, Neuroscience +5.6%, Medical Surgical +6.1%, Diabetes +6.3%.
U.S. launches commenced for MiniMed 780G system and Micra AV2/VR2 leadless pacemakers.
Management cites broad strength and improved fundamentals; raises guidance based on Q1 outperformance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Medtronic plc reported first quarter of fiscal year 2024 (FY24), which ended July 28, 2023 results: revenue $7.702 billion, net income $791 million, EPS $0.59. Guidance raised.

Period: first quarter of fiscal year 2024 (FY24), which ended July 28, 2023
Revenue: $7.702 billion
Net income: $791 million
EPS: $0.59
Guidance: raised
Result: reported results

Exact text from the filing

Medtronic plc (NYSE:MDT) today announced financial results for its first quarter of fiscal year 2024 (FY24), which ended July 28, 2023. Key Highlights • Revenue of $7.7 billion increased 4.5% as reported and 6.0% organic • GAAP diluted earnings per share (EPS) of $0.59 decreased 16%; non-GAAP diluted EPS of $1.20 increased 6% • Company increases FY24 organic revenue growth and EPS guidance

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Source: SEC EDGAR

accession 0001613103-23-000117

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