Q1 2025 Medtronic PLC Earnings Call Transcript
Key Points
- Medtronic PLC (MDT) reported its seventh consecutive quarter of mid-single-digit revenue growth.
- The company increased its adjusted EPS by 3% on a reported basis and 8% in constant currency.
- Strong performance in high-growth areas such as diabetes, pulse field ablation, and neuromodulation.
- Successful launch of new products like PulseSelect PFA catheters and Sphere-9 focal catheter.
- Raised full-year revenue and EPS guidance, reflecting positive momentum and strong market demand.
- Gross margin declined by 50 basis points, primarily due to currency impacts.
- Operating margin also saw a decline of 40 basis points year-over-year.
- Concerns about sustaining high growth rates in certain segments like Diabetes and CRM throughout the fiscal year.
- Potential challenges in ramping up manufacturing capacity to meet strong market demand for new products.
- Uncertainty around the timing of regulatory approvals and market launches for key products like Affera in the U.S.
Good morning, and welcome to another Medtronic Earnings Day. I'm Ryan Weispfenning, Vice President and Head of Medtronic Investor Relations. And I appreciate that you're joining us this morning for our fiscal '25 first quarter video earnings webcast.
Before we go inside to hear our prepared remarks, I'll share a few details about today's webcast. Joining me are Geoff Martha, Chairman and Chief Executive Officer; and Gary Corona, Interim Chief Financial Officer.
Geoff and Gary will provide comments on the results of our first quarter, which ended on July 26, 2024, and our outlook for the remainder of fiscal year '25. After our prepared remarks, the executive VPs from each of our four segments will join us, and we'll take questions from the sell-side analysts that cover the company. Today's program should last about an hour.
Earlier this morning, we issued a press release containing our financial statements, divisional and geographic revenue summaries and non-GAAP reconciliations. We also posted an earnings
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