Medtronic (NYSE:MDT) reported third-quarter fiscal 2026 revenue of $9.017 billion, an increase of 8.7% as reported and 6.0% on an organic basis, surpassing the midpoint of its guidance by 50 basis points and marking the highest enterprise revenue growth in the past 10 quarters.
The performance was led by the Cardiovascular portfolio, which rose 13.8% reported and 10.6% organic to $3.457 billion, with Cardiac Ablation Solutions surging 80% globally—including 137% in the U.S.—driven by strong adoption of its pulsed field ablation (PFA) technologies for atrial fibrillation treatment.
Diabetes revenue climbed 14.8% reported and 8.3% organic to $796 million, reflecting continued momentum in its insulin pump and continuous glucose monitoring offerings.
Neuroscience grew 4.1% to $2.558 billion, while Medical Surgical increased 4.9% to $2.173 billion.GAAP diluted earnings per share were $0.89, while non-GAAP diluted EPS reached $1.36, three cents above the guidance midpoint, supported by solid operating execution despite higher costs in certain areas.
Non-GAAP operating margin stood at 24.1%.
The quarter featured several notable milestones, including CE Mark approval for the Sphere-360 mapping catheter, U.S. FDA clearances for the Hugo robotic-assisted surgery system and Stealth AXiS Surgical System, and two strategic acquisitions: CathWorks (enhancing coronary and renal denervation capabilities) and Anteris (bolstering structural heart technologies).