Source: Siyu MedTech; Editor: Sophia
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On August 20, 2024, Medtronic announced its first-quarter financial report for the fiscal year 2025.
- RevenueFor$7.9 billion (approximately 56.32 billion RMB), Adjusted revenue is$80 billion, reporting a 2.8% increase, organic growth5.3%；
- GAAP Net Income is$1.042 billion, GAAP diluted earnings per share (EPS) is$0.80; Non-GAAP diluted earnings per share is$1.23；
- Company Raises Guidance for Organic Revenue Growth and Earnings Per Share for Fiscal Year 2025;
- Completion of Multiple Franchises, Accelerated Growth in Cardiac Ablation Solutions and Neuromodulation, Continued Strong Momentum in Spine, Structural Heart, and Diabetes.
# Performance of Each DepartmentCardiovascular Portfolio: Revenue of $3.007 billion, a year-over-year increase of 5.5%, with organic growth of 6.9%.- Cardiac and Respiratory Heart Failure (CRHF) Achieves High Single-Digit Growth
Implementation of Defibrillation SolutionsHigh single-digit growth, Cardiac pacing therapy implementationLow double-digit growth, including the Micra™ Transcatheter Pacing System20% Growth; Cardiac Ablation Solutions Business inPulseSelect™ Pulsed Field Ablation (PFA) SystemThe PromotionAchieveMid-single-digit growth。- Structural Heart and Aortic (SHA) Business Achieves High Single-Digit Growth
Achievement of Heart SurgeryLow double-digit growth,Structural Heart Business ImplementationHigh single-digit growth.- Peripheral Vascular Business (CPV) Achieves Mid-Single-Digit Growth
The Peripheral Vascular Health business unit achieved low single-digit growth, withDrug-Coated BalloonAchieve high single-digit growth, and intravenous products achieve low single-digit growth.Evolut™ FX+ TAVR SystemUnited StatesLimited QuantityCommercial release launched this quarter.Neuroscience Portfolio: Revenue of $2.317 billion, increased by 4.4%, with organic growth of 5.3%.- Neuromodulation Business Grows at a Low Double-Digit Rate
Performance exceeds market performance due to the continued launch of products using...Percept™ RC Deep Brain Stimulator (DBS) with BrainSense™ Technology, brain modulation business achieved significant growth.- Pain Therapies Business Achieves High Single-Digit Growth
Launched in the United StatesInceptiv™ Spinal Cord StimulatorLater, the pain stimulant achieved a low double-digit growth.- Mid-single-digit growth in Cranial and Spinal Technologies (CST) business
Driven by the continued adoption of spinal implants and enabling technologiesAiBLE™ EcosystemDriven by this, both core spine and biologics achieved high single-digit growth.- Professional Treatment Business Sees Low Single-Digit Growth
Driven by single-digit growth in the neurovascular business, the hemorrhagic stroke products business continues to grow strongly; the pelvic health business is gaining adoption.InterStim X™ SystemLater, low single-digit growth was achieved; ENT achieved low single-digit growth in localized drug delivery sinus implants.Internal and External Product Portfolio: Revenue was $1.996 billion, a year-over-year decrease of 0.4%, with organic growth of 1.0%, and net profit growth in the low single digits.
- Surgical and Endoscopic (SE) Business Growth
Including advanced surgical techniques, general surgical techniques, and endoscopic procedures, all achieved low single-digit growth, thanks toEndoflip™AndGI Genius™Sales Growth.
Diabetes Portfolio: Revenue of $647 million, an increase of 11.8% year-over-year, with organic revenue growth of 12.6%.
- Significant Revenue Growth in the U.S. Region
Continue to PromoteMiniMed™ 780GAutomatic Insulin Delivery System.Implementation of Insulin PumpHigh single digitsGrowth, consumables return to growth, CGM increased by 30%.- International region revenue achieves low double-digit growth
Thanks to the increased CGM connectivity andSimplera Sync™ The continuous promotion.Simplera™ CGM Received FDA approval and announced a global partnership with Abbott to complement future Medtronic integrated CGM products.Medtronic Raises Revenue Growth and Earnings Per Share Guidance for Fiscal Year 2025- Fiscal Year 2025Organic Revenue GrowthGuidelines Raised to4.5%-5%(Previously 4%-5%).
Organic revenue growth guidance excludes the impact of foreign exchange and items reported as other income. Including the impact of other income and foreign currency exchange rates, if recent foreign currency exchange rates remain unchanged, adjusted revenue growth for fiscal year 2025 is expected to be between 3.4% and 4.3%.- 2025 Fiscal Year Diluted Non-GAAP Earnings Per Share Guidance Raised to$5.42-$5.50(Previously $5.40-$5.50).
This includes the -5% impact of foreign exchange based on recent exchange rates, in line with prior guidance. Medtronic's guidance indicates diluted non-GAAP earnings per share growth for fiscal year 25 in the range of 4% to 6%.Medtronic’s Interim Chief Financial Officer Gary Corona stated, “A company’s overall revenue outperformance is often reflected in an improved organic growth baseline and adjusted earnings per share surpassing expectations. Today, we are raising our guidance because we are confident in sustaining continuous growth through new product launches.”
Editor-in-Chief | Zhao Qing Reviewed by | Yi He
