Medtronic FY27 Q1: revenue up 13.7%, EPS up 40.7%, guidance raised
Medtronic's fiscal 2027 first quarter was a beat-and-raise: revenue of $9.756 billion rose 13.7%, GAAP EPS jumped 40.7% to $1.14, and management lifted full-year organic growth and EPS guidance. The catch is a 53rd fiscal week that added roughly $570 million to revenue, so the underlying growth rate is lower than the headline. View: Bullish.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $1.14 rose 40.7% from $0.81, while non-GAAP diluted EPS of $1.45 rose 15.1% from $1.26 and came in ahead of guidance. The gap matters: $0.26 of the non-GAAP figure comes from adding back intangible amortization, with smaller add-backs for restructuring and deal costs. GAAP operating margin was 18.1%, up 120 basis points, but non-GAAP operating margin was 23.7%, only 10 basis points higher.
Revenue of $9.756 billion rose 13.7% from $8.578 billion a year ago, and the company says growth was 13.7% on an organic basis as well, roughly 200 basis points above the guidance midpoint. Every large franchise grew: Cardiovascular 18.9%, Neuroscience 9.3%, Medical Surgical 10.2% and Diabetes 14.9% organically. The caveat is that a 53rd fiscal week landed in this quarter and management estimates it added about $570 million.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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