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Medtronic (MDT) Reports Q2 Earnings: What Key Metrics Have to Say
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Medtronic (MDT - Free Report) reported $7.98 billion in revenue for the quarter ended October 2023, representing a year-over-year increase of 5.3%. EPS of $1.25 for the same period compares to $1.30 a year ago.
The reported revenue represents a surprise of +0.91% over the Zacks Consensus Estimate of $7.91 billion. With the consensus EPS estimate being $1.18, the EPS surprise was +5.93%.
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: $4.18 billion versus the five-analyst average estimate of $4.19 billion.
Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies: $294 million versus the four-analyst average estimate of $285.18 million.
Net Sales- ROW- Neuroscience- Specialty Therapies: $302 million versus $310.66 million estimated by four analysts on average.
Net Sales- U.S. Revenue- Neuroscience- Specialty Therapies: $403 million compared to the $405.21 million average estimate based on four analysts.
Net Sales- World Wide Revenue- Diabetes: $610 million compared to the $590.86 million average estimate based on eight analysts. The reported number represents a change of +9.7% year over year.
Net Sales- World Wide Revenue- Neuroscience: $2.29 billion versus $2.29 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
Net Sales- World Wide Revenue- Cardiovascular: $2.92 billion versus $2.92 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
Net Sales- World Wide Revenue- Medical Surgical: $2.14 billion versus the eight-analyst average estimate of $2.09 billion. The reported number represents a year-over-year change of +3.5%.
Net Sales- World Wide Revenue- Medical Surgical- Patient Monitoring & Respiratory Interventions: $501 million versus $526.33 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -25.3% change.
Net Sales- World Wide Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure: $1.49 billion versus the seven-analyst average estimate of $1.48 billion. The reported number represents a year-over-year change of +4.3%.
Net Sales- World Wide Revenue- Cardiovascular- Structural Heart & Aortic: $819 million versus $818.92 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
Net Sales- World Wide Revenue- Medical Surgical- Surgical & Endoscopy: $1.64 billion compared to the $1.57 billion average estimate based on seven analysts. The reported number represents a change of +17.4% year over year.
Shares of Medtronic have returned +3.8% over the past month versus the Zacks S&P 500 composite's +7.9% 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) Reports Q2 Earnings: What Key Metrics Have to Say
Medtronic (MDT - Free Report) reported $7.98 billion in revenue for the quarter ended October 2023, representing a year-over-year increase of 5.3%. EPS of $1.25 for the same period compares to $1.30 a year ago.
The reported revenue represents a surprise of +0.91% over the Zacks Consensus Estimate of $7.91 billion. With the consensus EPS estimate being $1.18, the EPS surprise was +5.93%.
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: $4.18 billion versus the five-analyst average estimate of $4.19 billion.
- Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies: $294 million versus the four-analyst average estimate of $285.18 million.
- Net Sales- ROW- Neuroscience- Specialty Therapies: $302 million versus $310.66 million estimated by four analysts on average.
- Net Sales- U.S. Revenue- Neuroscience- Specialty Therapies: $403 million compared to the $405.21 million average estimate based on four analysts.
- Net Sales- World Wide Revenue- Diabetes: $610 million compared to the $590.86 million average estimate based on eight analysts. The reported number represents a change of +9.7% year over year.
- Net Sales- World Wide Revenue- Neuroscience: $2.29 billion versus $2.29 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
- Net Sales- World Wide Revenue- Cardiovascular: $2.92 billion versus $2.92 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
- Net Sales- World Wide Revenue- Medical Surgical: $2.14 billion versus the eight-analyst average estimate of $2.09 billion. The reported number represents a year-over-year change of +3.5%.
- Net Sales- World Wide Revenue- Medical Surgical- Patient Monitoring & Respiratory Interventions: $501 million versus $526.33 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -25.3% change.
- Net Sales- World Wide Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure: $1.49 billion versus the seven-analyst average estimate of $1.48 billion. The reported number represents a year-over-year change of +4.3%.
- Net Sales- World Wide Revenue- Cardiovascular- Structural Heart & Aortic: $819 million versus $818.92 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
- Net Sales- World Wide Revenue- Medical Surgical- Surgical & Endoscopy: $1.64 billion compared to the $1.57 billion average estimate based on seven analysts. The reported number represents a change of +17.4% year over year.
View all Key Company Metrics for Medtronic here>>>Shares of Medtronic have returned +3.8% over the past month versus the Zacks S&P 500 composite's +7.9% 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.