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Compared to Estimates, Medtronic (MDT) Q3 Earnings: A Look at Key Metrics

By Zacks Equity Research | February 17, 2026, 9:30 AM

Medtronic (MDT) reported $9.02 billion in revenue for the quarter ended January 2026, representing a year-over-year increase of 8.7%. EPS of $1.36 for the same period compares to $1.39 a year ago.

The reported revenue represents a surprise of +1.35% over the Zacks Consensus Estimate of $8.9 billion. With the consensus EPS estimate being $1.33, the EPS surprise was +2.07%.

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.

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: $4.49 billion versus the two-analyst average estimate of $4.59 billion. The reported number represents a year-over-year change of +6%.
  • Net Sales- International: $4.52 billion versus $4.3 billion estimated by two analysts on average.
  • Net Sales- World Wide Revenue- Cardiovascular: $3.46 billion compared to the $3.39 billion average estimate based on five analysts. The reported number represents a change of +13.8% year over year.
  • Net Sales- World Wide Revenue- Neuroscience: $2.56 billion versus $2.58 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.
  • Net Sales- World Wide Revenue- Neuroscience- Cranial & Spinal Technologies: $1.31 billion versus $1.32 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.
  • Net Sales- World Wide Revenue- Neuroscience- Neuromodulation: $503 million compared to the $504.55 million average estimate based on four analysts. The reported number represents a change of +5.7% year over year.
  • Net Sales-World Wide: $9.02 billion versus $8.88 billion estimated by four analysts on average.
  • Net Sales- World Wide Revenue- Medical Surgical: $2.17 billion compared to the $2.14 billion average estimate based on four analysts. The reported number represents a change of +4.9% year over year.
  • Net Sales- World Wide Revenue- Diabetes: $796 million versus $773.73 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.7% change.
  • Net Sales- World Wide Revenue- Cardiovascular- Coronary & Peripheral Vascular: $672 million compared to the $644.51 million average estimate based on four analysts. The reported number represents a change of +8.7% year over year.
  • Net Sales- World Wide Revenue- Neuroscience- Specialty Therapies: $746 million versus $754.82 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.9% change.
  • Net Sales- World Wide Revenue- Cardiovascular- Cardiac Rhythm & Heart Failure: $1.86 billion versus $1.8 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20.1% 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 -1.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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