Medical device maker Medtronic plc (NYSE: MDT) on Tuesday reported an increase in net sales and adjusted earnings for the first quarter of fiscal 2026. The company also reaffirmed its full-year revenue guidance.
First-quarter earnings, excluding one-off items, rose 2% year-over-year to $1.26 per share. On an unadjusted basis, net profit was $1.05 billion or $0.81 per share in Q1, unchanged from the profit the company generated in the prior-year quarter.
Revenues of the Cardiovascular and Neuroscience segments increased by 9.3% and 4.3% respectively. Total revenues grew 8.4% year-over-year to $8.6 billion during the three months.
Thierry Piéton, Medtronic’s CEO, said, “Our confidence continues to increase as we advance our revenue growth drivers and execute on efficiencies in manufacturing, supply chain, and operating expenses to drive earnings growth, and increase our growth investments in R&D, sales, and marketing, all with a deliberate focus on creating long-term shareholder value.”
For fiscal 2026, the company continues to expect organic revenue growth of approximately 5%. The guidance for full-year adjusted earnings per share is in the range of $5.60 to $5.66.