Medtronic cuts FY2026 EPS guidance on MiniMed charges; FDA clears MiniMed Flex pump

Medtronic plc

2026-Q3 EPS reported $2.76 revenue$26,557,000,000

FDA cleared MiniMed Flex insulin pump several months earlier than expected; smartphone-controlled.
One-time $157M charge in Q4 FY2026 due to Blackstone royalty arrangement; $0.08 EPS impact.
MiniMed IPO (10% stake) closed Mar 9; dilutes Medtronic EPS by $0.04 in Q4 FY2026.
FY2026 non-GAAP EPS guidance revised to $5.50-$5.54 from $5.62-$5.66.
FY2027 high single-digit EPS growth guidance unchanged; Blackstone earns mid-to-high single digit royalty on first two years of net sales.

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