Medtronic (MDT) Q2 results:
Revenues: $6,507M (-13.2%).
Cardiac & Vascular Group revenues of $2.433B (-12.8%), compared to estimate $1.81B.
Minimally Invasive Therapies Group revenues are $1.8B (-14.2%), vs. consensus of $1.76.
Restorative Therapies Group: $1.712B (-14.9%) compared to expectations of $1.33B; Diabetes Group: $562M (-5.1%).
Adjusted gross margin of 62.1% vs. estimate of 60.5%; Adjusted operating margin 16.5%, consensus 7.2%.
Net Income: $487M (-43.6%); EPS: $0.36 (-43.8%); non-GAAP Net Income: $836M (-50.9%); non-GAAP EPS: $0.62 (-50.8%).
CF Ops: $278M (-81.6%).
Citing COVID-19 uncertainties, the company is not providing formal annual or quarterly financial guidance at this time.
Below is the timeline of the company’s key product approvals in CY2020 till date in key geographies:
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