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Medtronic (MDT) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Medtronic (MDT - Free Report) reported $7.73 billion in revenue for the quarter ended January 2023, representing a year-over-year decline of 0.5%. EPS of $1.30 for the same period compares to $1.37 a year ago.
The reported revenue represents a surprise of +2.76% over the Zacks Consensus Estimate of $7.52 billion. With the consensus EPS estimate being $1.26, the EPS surprise was +3.17%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Medtronic performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales-Diabetes [$M]: $570 million versus $530.01 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -2.4% change.
Net Sales- Neuroscience - Total: $2.25 billion compared to the $2.19 billion average estimate based on six analysts.
Cardiac & Vascular Group -Total: $2.77 billion versus the six-analyst average estimate of $2.71 billion. The reported number represents a year-over-year change of +1%.
Net Sales - Medical Surgical- Total: $2.14 billion compared to the $2.08 billion average estimate based on six analysts. The reported number represents a change of -6.7% year over year.
Net sales- Cardiac Rhythm & Heart Failure / Cardiac Rhythm Disease Management (CRDM): $1.43 billion versus $1.38 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.1% change.
Net Sales - Structural Heart & Aortic - Worldwide: $760 million versus the five-analyst average estimate of $750.57 million. The reported number represents a year-over-year change of +2.7%.
Net Sales-Surgical Innovations: $1.43 billion compared to the $1.41 billion average estimate based on five analysts. The reported number represents a change of -6.2% year over year.
Net Sales- Respiratory, Gastrointestinal & Renal / Patient Monitoring & Recovery: $712 million versus $667.98 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -7.7% change.
Net Sales - Worldwide - Neuroscience -Neuromodulation: $420 million versus the five-analyst average estimate of $422.08 million. The reported number represents a year-over-year change of +2.7%.
Net Sales - Worldwide - Neuroscience -Cranial & Spinal Technologies: $1.13 billion compared to the $1.09 billion average estimate based on five analysts. The reported number represents a change of +2.4% year over year.
World Wide Revenue -Coronary & Peripheral Vascular: $581 million versus the five-analyst average estimate of $576.22 million. The reported number represents a year-over-year change of -3.7%.
Net Sales - Worldwide - Neuroscience - Specialty Therapies: $699 million versus $679.78 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +10.4% change.
Shares of Medtronic have returned +3% over the past month versus the Zacks S&P 500 composite's +2.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Medtronic (MDT) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Medtronic (MDT - Free Report) reported $7.73 billion in revenue for the quarter ended January 2023, representing a year-over-year decline of 0.5%. EPS of $1.30 for the same period compares to $1.37 a year ago.
The reported revenue represents a surprise of +2.76% over the Zacks Consensus Estimate of $7.52 billion. With the consensus EPS estimate being $1.26, the EPS surprise was +3.17%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Medtronic performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Medtronic here>>>
Shares of Medtronic have returned +3% over the past month versus the Zacks S&P 500 composite's +2.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.