Tue, Feb 25, 9:19 PM (54 days ago)
Medtronic plc (MDT) reported steady quarterly results for the period ended January 24, 2025. GAAP net sales increased to $8,292 million (from $8,089 million) for the quarter and $24,610 million over nine months, driven by growth in key segments like Cardiac Rhythm & Heart Failure and Structural Heart. Operating profit and net income rose modestly, with GAAP diluted EPS at $1.01 versus $0.99 in the prior year, while Non‐GAAP measures showed further improvement. The report outlines cost controls through reductions in product cost percentages, balanced by investments in R&D and SG&A due to new product launches. Strong operating cash flows of $4,516 million supported free cash flow of $3,116 million despite increased financing activity, including issuance of Euro-denominated Senior Notes. Management noted uncertainties from macroeconomic pressures, regulatory changes—including Italian payback rulings—and geopolitical risks, which may impact future performance. Legal contingencies and foreign currency exposures remain areas of focus as the company navigates evolving market challenges and competitive dynamics in its cardiovascular, neuroscience, medical surgical, and diabetes portfolios.