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Medtronic (MDT) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended January 2024, Medtronic (MDT - Free Report) reported revenue of $8.09 billion, up 4.7% over the same period last year. EPS came in at $1.30, compared to $1.30 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.95 billion, representing a surprise of +1.73%. The company delivered an EPS surprise of +3.17%, with the consensus EPS estimate being $1.26.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $4.12 billion versus $4.16 billion estimated by five analysts on average.
Net Sales- U.S. Revenue- Medical Surgical: $960 million versus $987.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.5% change.
Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies: $329 million versus $313.05 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
Net Sales- U.S. Revenue- Neuroscience- Specialty Therapies: $407 million compared to the $406 million average estimate based on four analysts. The reported number represents a change of +1.2% year over year.
Net Sales- World Wide Revenue- Diabetes: $640 million versus $598.11 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +12.3% change.
Net Sales- World Wide Revenue- Neuroscience: $2.36 billion versus $2.31 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.
Net Sales- World Wide Revenue- Cardiovascular: $2.93 billion versus the eight-analyst average estimate of $2.87 billion. The reported number represents a year-over-year change of +5.7%.
Net Sales- World Wide Revenue- Medical Surgical: $2.15 billion versus $2.15 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +0.5% change.
Net Sales- World Wide Revenue- Medical Surgical- Patient Monitoring & Respiratory Interventions: $532 million compared to the $549.25 million average estimate based on seven analysts. The reported number represents a change of -25.3% year over year.
Net Sales- World Wide Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure: $1.47 billion versus the seven-analyst average estimate of $1.46 billion. The reported number represents a year-over-year change of +2.7%.
Net Sales- World Wide Revenue- Cardiovascular- Structural Heart & Aortic: $843 million compared to the $799.32 million average estimate based on seven analysts. The reported number represents a change of +10.9% year over year.
Net Sales- World Wide Revenue- Medical Surgical- Surgical & Endoscopy: $1.62 billion versus the seven-analyst average estimate of $1.61 billion. The reported number represents a year-over-year change of +13.4%.
Shares of Medtronic have returned -2.4% over the past month versus the Zacks S&P 500 composite's +3.6% 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
For the quarter ended January 2024, Medtronic (MDT - Free Report) reported revenue of $8.09 billion, up 4.7% over the same period last year. EPS came in at $1.30, compared to $1.30 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.95 billion, representing a surprise of +1.73%. The company delivered an EPS surprise of +3.17%, with the consensus EPS estimate being $1.26.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $4.12 billion versus $4.16 billion estimated by five analysts on average.
- Net Sales- U.S. Revenue- Medical Surgical: $960 million versus $987.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.5% change.
- Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies: $329 million versus $313.05 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
- Net Sales- U.S. Revenue- Neuroscience- Specialty Therapies: $407 million compared to the $406 million average estimate based on four analysts. The reported number represents a change of +1.2% year over year.
- Net Sales- World Wide Revenue- Diabetes: $640 million versus $598.11 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +12.3% change.
- Net Sales- World Wide Revenue- Neuroscience: $2.36 billion versus $2.31 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.
- Net Sales- World Wide Revenue- Cardiovascular: $2.93 billion versus the eight-analyst average estimate of $2.87 billion. The reported number represents a year-over-year change of +5.7%.
- Net Sales- World Wide Revenue- Medical Surgical: $2.15 billion versus $2.15 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +0.5% change.
- Net Sales- World Wide Revenue- Medical Surgical- Patient Monitoring & Respiratory Interventions: $532 million compared to the $549.25 million average estimate based on seven analysts. The reported number represents a change of -25.3% year over year.
- Net Sales- World Wide Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure: $1.47 billion versus the seven-analyst average estimate of $1.46 billion. The reported number represents a year-over-year change of +2.7%.
- Net Sales- World Wide Revenue- Cardiovascular- Structural Heart & Aortic: $843 million compared to the $799.32 million average estimate based on seven analysts. The reported number represents a change of +10.9% year over year.
- Net Sales- World Wide Revenue- Medical Surgical- Surgical & Endoscopy: $1.62 billion versus the seven-analyst average estimate of $1.61 billion. The reported number represents a year-over-year change of +13.4%.
View all Key Company Metrics for Medtronic here>>>Shares of Medtronic have returned -2.4% over the past month versus the Zacks S&P 500 composite's +3.6% 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.