NYSE$MDT
Medtronic PLC · Q4 2024 earnings
Q4 2024 earnings · · Investor relations
Briefing
Medtronic's Q4 2024 earnings were reported, featuring revenue of $8.6 billion, EPS of $0.49, and non-GAAP EPS of $1.46. The company experienced broad-based growth across multiple segments and issued FY25 guidance.
Medtronic reported Q4 worldwide revenue of $8.589 billion, a 0.5% increase as reported and a 5.4% increase on an organic basis. GAAP diluted EPS was $0.49, while non-GAAP diluted EPS was $1.46. The company's organic revenue results reflect broad-based growth across the company, with mid-single digit or higher organic revenue growth in all four segments.
- Q4 revenue increased 0.5% as reported and 5.4% organic.
- Q4 GAAP diluted EPS was $0.49, and non-GAAP diluted EPS was $1.46.
- FY24 revenue increased 3.6% as reported and 5.2% organic.
- The company issued FY25 guidance and increased the dividend to $0.70 per share quarterly.
Headline financials
Revenue & EPS history
Medtronic · Revenue · Quarterly
$8.59B
Revenue by segment
Medtronic · $8.97B total across 8 segments · Q4 2026
- Cardiac Rhythm & Heart Failure$2.11B+21.8%23.5%
- Surgical & Endoscopy$1.82B+6.5%20.3%
- Cranial & Spinal Technologies$1.4B+4.5%15.6%
- Structural Heart & Aortic$1B+6.1%11.2%
- Diabetes$837M+15.0%9.3%
- Coronary & Peripheral Vascular$685M+3.9%7.6%
- Acute Care & Monitoring$568M+12.9%6.3%
- Neuromodulation$542M+4.2%6.0%
Forward guidance
The company is guiding to FY25 organic revenue growth in the range of 4% to 5%. The company is guiding to FY25 diluted non-GAAP EPS in the range of $5.40 to $5.50, including an estimated 5% unfavorable impact from foreign currency exchange based on recent rates.
Tailwinds
- FY25 organic revenue growth is expected to be in the range of 4% to 5%.
- FY25 revenue growth on a reported basis would be in the range of 2.4% to 3.7%.
- FY25 diluted non-GAAP EPS is projected to be between $5.40 and $5.50.
- This represents FY25 diluted non-GAAP EPS growth in the range of 4% to 6%.
- The company remains committed to returning a minimum of 50% of its free cash flow to shareholders.
Headwinds
- FY25 diluted non-GAAP EPS includes an estimated 5% unfavorable impact from foreign currency exchange based on recent rates.
- Organic revenue growth guidance excludes the impact of foreign currency exchange and revenue reported as Other.
- Forward-looking diluted non-GAAP EPS guidance excludes other potential charges or gains that would be recorded as Non-GAAP Adjustments to earnings during the fiscal year.
- The combined impact and timing of recognition of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts.
- Such items could have a substantial impact on GAAP measures of financial performance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2024
-0.1%
Avg return
Earnings day
+0.2%
Avg return
5 days after
-1.4%
Avg return
30 days after
58%
38 / 66 earnings
Positive
+6.2%
Q1 2019
Best reaction
-7.3%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +5.3% | +9.4% | — | |
| Q3 2026 | -2.8% | -2.6% | -12.7% | |
| Q2 2026 | +3.9% | +5.1% | +2.3% | |
| Q1 2026 | -3.1% | -0.1% | +3.0% | |
| Q4 2025 | -2.2% | -6.6% | -0.0% | |
| Q3 2025 | -7.3% | -3.1% | -1.7% | |
| Q2 2025 | -4.0% | -1.6% | -8.7% | |
| Q1 2025 | +3.2% | +4.2% | +5.5% | |
| Q4 2024 | -4.0% | -4.4% | -4.8% | |
| Q3 2024 | +1.8% | +1.5% | -1.2% | |
| Q2 2024 | +4.3% | +5.1% | +9.0% | |
| Q1 2024 | +2.5% | +0.7% | -1.4% | |
| Q4 2023 | -6.9% | -5.7% | -0.0% | |
| Q3 2023 | +0.4% | -1.5% | -8.5% | |
| Q2 2023 | -4.0% | -3.9% | -6.3% | |
| Q1 2023 | -4.1% | -3.9% | -10.2% | |
| Q4 2022 | -6.1% | -5.1% | -14.5% | |
| Q3 2022 | +2.4% | +5.2% | +5.7% | |
| Q2 2022 | -2.1% | -5.0% | -12.0% | |
| Q1 2022 | +4.7% | +4.1% | +1.7% | |
| Q4 2021 | +0.3% | -0.8% | +2.8% | |
| Q3 2021 | +2.6% | +1.1% | +0.7% | |
| Q2 2021 | +2.1% | +3.3% | +2.8% | |
| Q1 2021 | +3.9% | +7.7% | +1.1% | |
| Q4 2020 | -3.4% | -0.9% | -4.3% | |
| Q3 2020 | -3.0% | -3.5% | -32.5% | |
| Q2 2020 | +0.5% | -0.4% | +2.0% | |
| Q1 2020 | +3.5% | +1.8% | +6.6% | |
| Q4 2019 | +4.8% | +2.9% | +12.0% | |
| Q3 2019 | +0.6% | +1.6% | -0.2% | |
| Q2 2019 | +2.9% | +1.8% | -0.5% | |
| Q1 2019 | +6.2% | +6.1% | +8.3% | |
| Q4 2018 | +1.2% | +0.2% | +1.8% | |
| Q3 2018 | -3.1% | -3.5% | -6.2% | |
| Q2 2018 | +4.4% | +5.5% | +3.3% | |
| Q1 2018 | -4.5% | -5.3% | -4.8% | |
| Q4 2017 | +0.5% | +0.2% | +5.3% | |
| Q3 2017 | +0.9% | +2.7% | +2.5% | |
| Q2 2017 | -6.0% | -6.3% | -11.0% | |
| Q1 2017 | -0.1% | +0.2% | +1.2% | |
| Q4 2016 | -1.4% | +1.5% | +6.2% | |
| Q3 2016 | -3.6% | — | — | |
| Q2 2016 | +2.7% | — | — | |
| Q1 2016 | -3.6% | — | — | |
| Q4 2015 | +0.2% | — | — | |
| Q3 2015 | +4.3% | — | — | |
| Q2 2015 | +3.7% | — | — | |
| Q1 2015 | +1.1% | — | — | |
| Q4 2014 | -1.0% | — | — | |
| Q3 2014 | -1.2% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | -2.6% | — | — | |
| Q4 2013 | +3.3% | — | — | |
| Q3 2013 | -5.0% | — | — | |
| Q2 2013 | +1.6% | — | — | |
| Q1 2013 | +1.2% | — | — | |
| Q4 2012 | +2.1% | — | — | |
| Q3 2012 | +2.0% | — | — | |
| Q2 2012 | -6.5% | — | — | |
| Q1 2012 | -3.2% | — | — | |
| Q4 2011 | +1.5% | — | — | |
| Q3 2011 | +1.4% | — | — | |
| Q2 2010 | -0.2% | — | — | |
| Q1 2010 | +1.5% | — | — | |
| Q4 2010 | +0.7% | — | — | |
| Q3 2009 | +0.6% | — | — |
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