Medtronic plc (NYSE:MDT) delivered stronger-than-expected results for the second quarter of fiscal 2026 and lifted its full-year outlook, powered by exceptional growth in its cardiovascular business and continued momentum across multiple product lines.
Adjusted earnings per share came in at $1.36, ahead of the $1.31 analysts projected. Revenue reached $9 billion, topping expectations of $8.87 billion and rising 6.6% on a reported basis—or 5.5% organically—versus the prior year’s quarter. Despite the beat and upgraded guidance, Medtronic shares rose a modest 2.1% after the release.
The standout performer was the Cardiovascular Portfolio, which delivered a 10.8% revenue jump. Cardiac Ablation Solutions was a key driver, soaring 71% globally and 128% in the U.S., reflecting rapid adoption of the company’s pulsed field ablation technology. Medtronic said this marked its strongest cardiovascular growth in more than ten years outside of the pandemic surge periods.
“We delivered a strong second quarter, with both revenue and EPS beating expectations,” said Geoff Martha, Medtronic chairman and chief executive officer. “Overall, procedure volumes and our end markets are robust, and we’re executing well across the business.”
After a solid first half, the company raised its full-year fiscal 2026 organic revenue growth forecast to roughly 5.5%, up from 5.0%. Medtronic also narrowed and lifted its adjusted EPS outlook to $5.62–$5.66, in line with analyst expectations at the midpoint of $5.62.
Performance was also healthy in other divisions: Diabetes revenue climbed 10.3% as reported (7.1% organically), Neuroscience advanced 4.5%, and the Medical Surgical Portfolio grew 2.1%.
The company highlighted several recent regulatory milestones, including expanded coverage for its Symplicity renal denervation therapy for resistant hypertension and FDA approval of its Altaviva device for treating urge urinary incontinence.