Medtronic Delivers Record-Breaking Fiscal 2026, Sets Stage for Continued Growth
Medtronic, a leading medical technology company, has announced its fiscal fourth quarter and full-year 2026 results, exceeding expectations with record-breaking revenue and adjusted earnings per share (EPS).
In the fourth quarter of fiscal 2026, Medtronic delivered $9.8 billion in revenue, marking a 9.9% increase on a reported basis and 6.6% organically. This strong performance propelled the company's full-year revenue to $36.4 billion, up 8.4% reported and 5.8% organically, representing its strongest top-line performance in 10 years.
"We delivered an excellent fiscal 2026 that will continue into fiscal 2027," said Geoff Martha, Chairman and Chief Executive Officer of Medtronic. "Our teams have executed with discipline to deliver a strong fiscal year, driven by deliberate choices across strategy, operations, and culture."
Medtronic's largest foundational businesses, including Cardiac Resynchronization Therapy (CRM), Cardiac Surgery Therapies (CST), and Surgical, demonstrated continued strong execution. The company made significant progress on its highest growth platforms, such as Cardiac Ablation Solutions (CAS), Advanced Symplicity, Hugo, Altaviva, and Stealth AXiS.
CAS delivered an outstanding quarter with 78% worldwide growth, gaining an additional 8 points of U.S. share. The company's PFA business saw exceptional global growth of 145%, with Sphere-9 continuing to demonstrate broad versatility. Medtronic also secured FDA approval for its U.S. VT pivotal trial and launched Sphere 9 in Japan, where it expects to extend market leadership.
The company's commitment to further focus was demonstrated through the deployment of capital in line with its capital allocation priorities and increasing investments in mergers and acquisitions (M&A), ventures, and partnerships. "We are incredibly proud of our teams," said Martha. "Through a dynamic macro environment, we have executed and delivered an excellent fiscal 2026 that will continue into fiscal 2027."
Medtronic's adjusted EPS for the fourth quarter was $1.55, ahead of expectations, and $5.53 for the full year, reflecting the company's commitment to operational rigor as it invests in durable growth.
"These results represent the compounding impact of deliberate choices we've made across strategy, operations, and culture," said Martha. "We see significant runway for continued expansion" in several key areas, including Cardiac Ablation Solutions and Advanced Symplicity."
Looking ahead to fiscal 2027, Medtronic is poised to continue its momentum, driven by a dynamic portfolio of innovative products and services. The company's focus on operational rigor, M&A, ventures, and partnerships positions it for sustained growth and success in the years to come.
