Medtronic reported Q3 results for the quarter ended Jan. 23, 2026, with net sales of USD 9.0 billion (+9%) and income before income taxes of USD 1.4 billion. Net income attributable to shareholders was USD 1.1 billion and diluted EPS was USD 0.89; the effective tax rate was 18.1%. On a non-GAAP basis, Medtronic reported income before income taxes of USD 2.1 billion, net income attributable to shareholders of USD 1.8 billion, and diluted EPS of USD 1.36, with a non-GAAP nominal tax rate of 17.3%. For the 9M period ended Jan. 23, 2026, Medtronic posted net sales of USD 26.6 billion (+8%), income before income taxes of USD 4.3 billion, net income attributable to shareholders of USD 3.6 billion, and diluted EPS of USD 2.76; the effective tax rate was 16.8%. Operating cash flow was USD 4.8 billion and free cash flow was USD 3.3 billion. By segment in Q3, Cardiovascular net sales were USD 3.5 billion (+14%), Neuroscience USD 2.6 billion (+4%), Medical Surgical USD 2.2 billion (+5%), and Diabetes USD 796 million (+15%). Medtronic cited pulsed field ablation growth (partly offset by cryoablation declines), higher sales of Micra leadless pacemakers and the Aurora EV-ICD system, and continued adoption of the MiniMed 780G AID system (including Simplera Sync and Guardian 4 sensors, Extended Infusion Sets, and Abbott Instinct sensors). The company also highlighted the planned separation of its Diabetes business into a new publicly traded company, MiniMed Group, Inc., expected within 18 months of the May 2025 announcement, and noted an estimated pre-tax net tariff impact of USD 185 million in FY2026 based on rates as of Feb. 17, 2026.

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