Medtronic, a global leader in healthcare technology, has reported its first quarter fiscal year 2026 financial results, ending on July 25, 2025. The key highlights of the report include a revenue of $8.6 billion, adjusted revenue of $8.5 billion, which increased by 8.4% as reported and 4.8% organically. The GAAP diluted earnings per share (EPS) increased by 1% to $0.81, while the non-GAAP diluted EPS increased by 2% to $1.26.
The company achieved its 11th consecutive quarter of mid-single digit organic revenue growth. The Q1 revenue by segment included a cardiovascular portfolio revenue of $3.285 billion, which increased by 9.3% as reported and 7.0% organically; neuroscience portfolio revenue of $2.416 billion, which increased by 4.3% reported and 3.1% organic; medical surgical portfolio revenue of $2.083 billion, growing by 4.4% as reported and 2.4% organic; and diabetes business revenue of $721 million, which increased by 11.5% as reported and 7.9% organic.
Medtronic reported a GAAP operating profit and operating margin of $1.445 billion and 16.8%, respectively, representing increases of 13% and 70 basis points, respectively. The non-GAAP operating profit and operating margin were $2.016 billion and 23.6%, respectively, indicating an increase of 3% and a decrease of 80 basis points, respectively.
For the full fiscal year 2026, Medtronic expects organic revenue growth of approximately 5%. The company also raised its EPS guidance, now expecting underlying non-GAAP EPS growth to be approximately 4.5%, and has raised its diluted non-GAAP EPS guidance to the new range of $5.60 to $5.66, compared to the prior range of $5.50 to $5.60.
The market has reacted to these announcements by moving the company's shares -0.23% to a price of $92.81. For the full picture, make sure to review Medtronic's 8-K report.
