Medtronic (MDT) Q4 2026 (USD): adj. EPS 1.55 (exp. 1.54), Revenue 9.81bln (exp. 9.62bln)

SEGMENTS:

• Cardiovascular revenue +13.8% to USD 3.797bln
• Neuroscience +5.0% to USD 2.751bln
• Medical Surgical +8.0% to USD 2.388bln 
• Diabetes +15.0% to USD 837mln
• Cardiac Ablation Solutions revenue rose 78% globally and 124% in the US

GUIDANCE:

• Next FY EPS view 5.90-6.00 (exp. 6.05)

COMMENTARY:

• Expects approximately USD 250mln in tariff impact to FY27 cost of goods sold, representing a USD 65mln incremental year-on-year increase, and is not assuming any government refund.
• CEO said Medtronic delivered its strongest annual top-line growth in 10 years and cited momentum in CRM, CST, Surgical, Affera, Symplicity, Hugo, Altaviva and Stealth AXiS.