Medtronic plc · MDT · Next earnings

Medtronic plc reports Tuesday, Nov 17, 2026

MDT reports before market open with consensus EPS at $1.34 and revenue at $9.48B. Last quarter: Medtronic Posts Record FY2026 as CAS Surges and MiniMed Spins Off

Reports Before market open58 days awayDate estimated Healthcare

What the street expects

Consensus for the coming report
Consensus EPS $1.34 Calendar consensus
Consensus revenue $9.48B Calendar consensus
Report date Nov 17, 2026 Tuesday, date estimated
Session Before market open 58 days away

Where MDT left off: FY2026 Q4

Full report

Medtronic Posts Record FY2026 as CAS Surges and MiniMed Spins Off

EPS surprise +0.6% Reported $1.55 vs $1.54
Revenue surprise +1.9% Reported $9.81B vs $9.62B
Stock move +5.7% Event window
Subsequent drift +6.7% Up to 20 sessions

Prior quarter (Q3 FY26): Guidance maintained — FY26 organic revenue growth ~5.5%, EPS $5.62–$5.66, with FY27 characterized qualitatively as 'high-single-digit EPS growth.' Current quarter (Q4 FY26): Guidance raised — FY27 organic revenue growth of 6.75–7.25%, EPS $5.90–$6.00. The shift from a qualitative FY27 outlook to a specific, raised quantitative range signals growing confidence that the diversified growth platform can outperform even as tariff exposure steps up to an estimated $250M for FY27 (from ~$185M in FY26).

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Tariff exposure estimated at $250M for FY27, up from approximately $185M in FY26
  • Mixed performance in the TAVR market with uncertainty from low-risk trial data
  • Foreign-exchange volatility, particularly in the Middle East conflict region
  • China volume-based procurement pressures on profitability and growth
  • Potential margin pressure from residual Diabetes business mix until the spin-off is fully transitioned

Questions analysts left open

  • Sustainability of CAS growth rates as the base grows and product mix normalizes
  • TAVR market share trajectory and the impact of low-risk trial data on demand
  • Gross-margin path given tariff escalation, product mix shifts, and Diabetes separation effects
  • China VBP impact on both profitability and revenue growth
  • Timing and financial effect of the completed MiniMed spin-off on consolidated results

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Recent MDT quarters

All MDT earnings
+5.7%FY2026 Q4

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q4

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.