MDT

EX-99.1

2 exhibit991-fy27q1earningsr.htm

EX-99.1

Document

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

Medtronic reports first quarter fiscal 2027 results; delivers broad-based portfolio performance and raises fiscal 2027 guidance

Strength across the company’s largest franchises, new growth platforms, and recent portfolio investments support the long-term growth trajectory

GALWAY, Ireland – September 1, 2026 – Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced financial results for its first quarter (Q1) of fiscal year 2027 (FY27), which ended July 31, 2026.

Key Highlights

•Revenue of $9.8 billion, increased 13.7% as reported and 13.7% organic, roughly 200 basis points above guidance midpoint

•GAAP diluted EPS of $1.14; non-GAAP diluted EPS of $1.45, ahead of guidance

•Raising FY27 organic revenue growth guidance 50 basis points to 7.25% to 7.75%, and FY27 diluted non-GAAP EPS guidance to the new range of $5.94 to $6.00

•Cardiovascular grew 18.9%, led by 15% growth in Cardiac Rhythm Management and 88% growth in Cardiac Ablation Solutions

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•Announced expanded CE Mark indication for Affera™ Mapping and Ablation System and Sphere-9™ Catheter for treatment of ventricular arrhythmias

•Announces strategic investment in Pi-Cardia, a pioneer in leaflet modification technology

•Neuroscience grew 9.3%, driven by 13% growth in Cranial and Spinal Technologies, including low-20s growth in enabling technology; Altaviva meaningfully contributed to 15% growth in Pelvic Health

•Medical Surgical reported strong performance, up 10.2%, led by 9% growth in Surgical and 14% growth in Acute Care & Monitoring

•Announces strategic partnership with Cornerstone Robotics to further expand global access to robotic-assisted surgery

•Announced FDA clearance for Touch Surgery™ Aide next generation computing platform

•Completed acquisitions of Scientia Vascular and SPR Therapeutics, Inc.

“We are off to a strong start in fiscal 2027. What gives us confidence is not simply the strength of the quarter, but importantly, the breadth of performance across our businesses and the increasing contributions from newer growth platforms,” said Geoff Martha, Medtronic chairman and chief executive officer. “Our execution, alongside our innovation engine, positions us to serve more patients and deliver durable growth. The strength of our portfolio and pipeline gives us confidence in the opportunities ahead.”

Financial Results

Medtronic reported Q1 worldwide revenue of $9.756 billion, an increase of 13.7% as reported and 13.7% on an organic basis. The Q1 FY27 organic revenue growth comparison excludes:

•Other revenue of $29 million in the current year versus $72 million in the prior year

•Revenue from the Dutch Obesity Clinic (NOK) divestiture with no revenue in the current year and $17 million in the prior year

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•Scientia revenue of $14 million (closed June 12) and SPR Therapeutics revenue of $5 million in the current year (closed July 16)

•Foreign exchange benefit of $57 million on the remaining net sales

Results were impacted by the extra fiscal week, which occurred in Medtronic’s first quarter of FY27. The company estimates the impact of the extra week benefited Q1 organic growth by approximately $570 million.

Q1 revenue included:

•Cardiovascular Portfolio revenue of $3.927 billion increased 19.5% as reported and 18.9% organic, with high-20s increase in Electrophysiology Therapies, high-single digit increase in Interventional Cardiology Therapies, high-single digit increase in CardioVascular Surgery, and low-double digit increase in Peripheral Vascular Health, all on an organic basis

•Neuroscience Portfolio revenue of $2.678 billion increased 10.3% reported and 9.3% organic, with low-double digit increase in Cranial & Spinal Technologies, high-single digit increase in Specialty Therapies, and low-single digit increase in Neuromodulation, all on an organic basis

•Medical Surgical Portfolio revenue of $2.279 billion increased 10.0% as reported and 10.2% organic, with high-single digit increase in Surgical & Endoscopy, and mid-teens increase in Acute Care & Monitoring, all on an organic basis

•Diabetes business revenue of $843 million increased 16.9% as reported and 14.9% organic1

Q1 GAAP operating profit and operating margin were $1.764 billion and 18.1%, respectively, an increase of 22.1% and 120 basis points, respectively. As detailed in the financial schedules included at the end of the release, Q1 non-GAAP operating profit and operating margin were $2.316 billion and 23.7%, respectively, an increase of 14.9% and 10 basis points, respectively.

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Q1 GAAP net income and diluted earnings per share (EPS) were $1.470 billion and $1.14, respectively, representing increases of 41.4% and 40.7%, respectively. As detailed in the financial schedules included at the end of this release, Q1 non-GAAP net income and non-GAAP diluted EPS were $1.860 billion and $1.45 respectively, representin

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 17, 2026

Medtronic plc (Exact name of Registrant as Specified in its Charter)

Ireland 1-36820 98-1183488 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

Building Two Parkmore Business Park West Galway, Ireland (Address of principal executive offices) (Zip Code) +353 1 438-1700 (Registrant’s telephone number, including area code)

Not Applicable Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Ordinary shares, par value $0.0001 per shareMDTNew York Stock Exchange 1.125% Senior Notes due 2027MDT/27New York Stock Exchange 0.375% Senior Notes due 2028MDT/28New York Stock Exchange 3.000% Senior Notes due 2028MDT/28ANew York Stock Exchange 3.650% Senior Notes due 2029MDT/29New York Stock Exchange 2.950% Senior Notes due 2030MDT/30New York Stock Exchange 1.625% Senior Notes due 2031MDT/31New York Stock Exchange 1.000% Senior Notes due 2031MDT/31ANew York Stock Exchange 3.125% Senior Notes due 2031MDT/31BNew York Stock Exchange 0.750% Senior Notes due 2032MDT/32New York Stock Exchange 3.375% Senior Notes due 2034MDT/34New York Stock Exchange 3.875% Senior Notes due 2036MDT/36New York Stock Exchange 2.250% Senior Notes due 2039MDT/39ANew York Stock Exchange 1.500% Senior Notes due 2039MDT/39BNew York Stock Exchange 1.375% Senior Notes due 2040MDT/40ANew York Stock Exchange 4.150% Senior Notes due 2043MDT/43ANew York Stock Exchange 4.200% Senior Notes due 2045MDT/45New York Stock Exchange 1.750% Senior Notes due 2049MDT/49New York Stock Exchange 1.625% Senior Notes due 2050MDT/50New York Stock Exchange 4.150% Senior Notes due 2053MDT/53New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.Results of Operations and Financial Condition

On February 17, 2026, Medtronic plc, a public limited company organized under the laws of Ireland, issued a press release announcing its third quarter fiscal year 2026 financial results. A copy of the press release is furnished as Exhibit 99.1 to this report.

Item 9.01.Exhibits.

(d) List of Exhibits Exhibit Number  Description

99.1 Press release of Medtronic plc, dated February 17, 2026

104Cover Page Interactive Data File (embedded with th