Medtronic plc has reported its financial results for the first quarter of fiscal year 2026, which ended on July 25, 2025. The company posted worldwide revenue of $8.6 billion and adjusted revenue of $8.5 billion, representing an increase of 8.4% as reported and 4.8% on an organic basis compared to the previous year.
GAAP diluted earnings per share (EPS) rose by 1% to $0.81, while non-GAAP diluted EPS increased by 2% to $1.26. Medtronic also raised its full-year EPS guidance and reiterated its expectation for approximately 5% organic revenue growth for fiscal year 2026.
“We delivered another consistent quarter of mid-single digit organic revenue growth, with broad strength from several innovative product categories, including Pulsed Field Ablation, Transcatheter Valves, Neuromodulation, Diabetes, and Leadless Pacing,” said Geoff Martha, Medtronic chairman and chief executive officer. “We’re confident and well positioned to accelerate our revenue growth in the second half of our fiscal year, as we make meaningful progress on our major growth drivers.”
The Cardiovascular Portfolio saw revenues rise by 9.3% as reported and 7% organically to $3.29 billion, with Cardiac Ablation Solutions showing nearly a 50% increase in revenue—driven largely by pulsed field ablation products that grew by 72% in the U.S. The Neuroscience Portfolio recorded revenues of $2.42 billion (up 4.3% reported and 3.1% organic), while Medical Surgical brought in $2.08 billion (up 4.4% reported and 2.4% organic). The Diabetes business grew by over 11%, reaching $721 million.
Other notable developments include the U.S. Centers for Medicare & Medicaid Services posting a proposed National Coverage Determination for the Symplicity Spyral system for hypertension treatment; a final decision is expected by October 8, 2025.
Medtronic also received CE Mark approval for its LigaSure RAS vessel-sealing technology used with the Hugo robotic-assisted surgery system.
“As a result of our Q1 EPS outperformance and improved tariff impact assumption, we are raising our full year EPS guidance,” said Thierry Piéton, Medtronic chief financial officer. “Our confidence continues to increase as we advance our revenue growth drivers and execute on efficiencies in manufacturing, supply chain, and operating expenses to drive earnings growth, and increase our growth investments in R&D, sales, and marketing, all with a deliberate focus on creating long-term shareholder value.”
A video webcast discussing these results was scheduled for August 19 at investorrelations.medtronic.com.
Medtronic is headquartered in Galway, Ireland and operates in more than 150 countries with over 95,000 employees worldwide.
