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Compared to Estimates, Medtronic (MDT) Q4 Earnings: A Look at Key Metrics

Zacks Equity Research
·3-min read

For the quarter ended April 2023, Medtronic (MDT) reported revenue of $8.54 billion, up 5.6% over the same period last year. EPS came in at $1.57, compared to $1.52 in the year-ago quarter.

The reported revenue represents a surprise of +3.59% over the Zacks Consensus Estimate of $8.25 billion. With the consensus EPS estimate being $1.56, the EPS surprise was +0.64%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Medtronic performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- U.S. Revenue- Neuroscience- Specialty Therapies: $422 million compared to the $409.72 million average estimate based on three analysts.

  • Net Sales- U.S. Revenue- Medical Surgical: $945 million compared to the $985.65 million average estimate based on three analysts.

  • Net Sales- ROW- Neuroscience- Cranial & Spinal Technologies: $343 million compared to the $323.90 million average estimate based on three analysts.

  • Net Sales- ROW- Neuroscience- Specialty Therapies: $341 million versus $329.58 million estimated by three analysts on average.

  • Net Sales- World Wide Revenue- Diabetes: $595 million versus $566.08 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -0.3% change.

  • Net Sales- World Wide Revenue- Neuroscience: $2.41 billion versus $2.42 billion estimated by seven analysts on average.

  • Net Sales- World Wide Revenue- Cardiovascular: $3.32 billion versus the seven-analyst average estimate of $3.03 billion. The reported number represents a year-over-year change of +12%.

  • Net Sales- World Wide Revenue- Medical Surgical: $2.22 billion versus the seven-analyst average estimate of $2.22 billion. The reported number represents a year-over-year change of -0.3%.

  • Net Sales- World Wide Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure: $1.58 billion versus the six-analyst average estimate of $1.57 billion. The reported number represents a year-over-year change of +1.8%.

  • Net Sales- World Wide Revenue- Cardiovascular- Structural Heart & Aortic: $1.11 billion versus $829.36 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +42% change.

  • Net Sales- World Wide Revenue- Medical Surgical- Surgical Innovations: $1.50 billion compared to the $1.53 billion average estimate based on six analysts. The reported number represents a change of +0.7% year over year.

  • Net Sales- World Wide Revenue- Medical Surgical- Respiratory, Gastrointestinal & Renal: $723 million versus $684.83 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -2.3% change.

View all Key Company Metrics for Medtronic here>>>

Shares of Medtronic have returned -2.8% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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