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Medtronic (MDT) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended July 2023, Medtronic (MDT - Free Report) reported revenue of $7.7 billion, up 4.5% over the same period last year. EPS came in at $1.20, compared to $1.13 in the year-ago quarter.
The reported revenue represents a surprise of +1.71% over the Zacks Consensus Estimate of $7.57 billion. With the consensus EPS estimate being $1.11, the EPS surprise was +8.11%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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- U.S. Revenue: $3.92 billion versus $3.90 billion estimated by four analysts on average.
Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies: $282 million versus $296.94 million estimated by three analysts on average.
Net Sales- ROW- Neuroscience- Specialty Therapies: $303 million compared to the $296.35 million average estimate based on three analysts.
Net Sales- ROW- Medical Surgical- Surgical & Endoscopy: $927 million compared to the $876.80 million average estimate based on three analysts.
Net Sales- World Wide Revenue- Diabetes: $578 million versus the six-analyst average estimate of $547.33 million. The reported number represents a year-over-year change of +6.8%.
Net Sales- World Wide Revenue- Neuroscience: $2.22 billion compared to the $2.19 billion average estimate based on six analysts. The reported number represents a change of +4.9% year over year.
Net Sales- World Wide Revenue- Cardiovascular: $2.85 billion compared to the $2.79 billion average estimate based on six analysts. The reported number represents a change of +5.1% year over year.
Net Sales- World Wide Revenue- Medical Surgical: $2.04 billion compared to the $2.03 billion average estimate based on six analysts. The reported number represents a change of +1.9% year over year.
Net Sales- World Wide Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure: $1.45 billion compared to the $1.43 billion average estimate based on five analysts. The reported number represents a change of +3.8% year over year.
Net Sales- World Wide Revenue- Cardiovascular- Structural Heart & Aortic: $814 million versus $765.18 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.9% change.
Net Sales- World Wide Revenue- Medical Surgical- Surgical & Endoscopy: $1.55 billion versus the five-analyst average estimate of $1.41 billion. The reported number represents a year-over-year change of +15.6%.
Net Sales- World Wide Revenue- Neuroscience- Neuromodulation: $420 million compared to the $415.75 million average estimate based on five analysts. The reported number represents a change of +3.7% year over year.
Shares of Medtronic have returned -8.1% over the past month versus the Zacks S&P 500 composite's -2.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Medtronic (MDT) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended July 2023, Medtronic (MDT - Free Report) reported revenue of $7.7 billion, up 4.5% over the same period last year. EPS came in at $1.20, compared to $1.13 in the year-ago quarter.
The reported revenue represents a surprise of +1.71% over the Zacks Consensus Estimate of $7.57 billion. With the consensus EPS estimate being $1.11, the EPS surprise was +8.11%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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- U.S. Revenue: $3.92 billion versus $3.90 billion estimated by four analysts on average.
- Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies: $282 million versus $296.94 million estimated by three analysts on average.
- Net Sales- ROW- Neuroscience- Specialty Therapies: $303 million compared to the $296.35 million average estimate based on three analysts.
- Net Sales- ROW- Medical Surgical- Surgical & Endoscopy: $927 million compared to the $876.80 million average estimate based on three analysts.
- Net Sales- World Wide Revenue- Diabetes: $578 million versus the six-analyst average estimate of $547.33 million. The reported number represents a year-over-year change of +6.8%.
- Net Sales- World Wide Revenue- Neuroscience: $2.22 billion compared to the $2.19 billion average estimate based on six analysts. The reported number represents a change of +4.9% year over year.
- Net Sales- World Wide Revenue- Cardiovascular: $2.85 billion compared to the $2.79 billion average estimate based on six analysts. The reported number represents a change of +5.1% year over year.
- Net Sales- World Wide Revenue- Medical Surgical: $2.04 billion compared to the $2.03 billion average estimate based on six analysts. The reported number represents a change of +1.9% year over year.
- Net Sales- World Wide Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure: $1.45 billion compared to the $1.43 billion average estimate based on five analysts. The reported number represents a change of +3.8% year over year.
- Net Sales- World Wide Revenue- Cardiovascular- Structural Heart & Aortic: $814 million versus $765.18 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.9% change.
- Net Sales- World Wide Revenue- Medical Surgical- Surgical & Endoscopy: $1.55 billion versus the five-analyst average estimate of $1.41 billion. The reported number represents a year-over-year change of +15.6%.
- Net Sales- World Wide Revenue- Neuroscience- Neuromodulation: $420 million compared to the $415.75 million average estimate based on five analysts. The reported number represents a change of +3.7% year over year.
View all Key Company Metrics for Medtronic here>>>Shares of Medtronic have returned -8.1% over the past month versus the Zacks S&P 500 composite's -2.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.