The following is a summary of the Medtronic Plc (MDT) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Medtronic experienced mid-single-digit revenue growth of over 5% for the full fiscal year 2024.

• The company's earnings per share were $1.46, exceeding consensus.

• Free cash flow increased by 14% over the previous year to $5.2 billion, indicating financial stability.

• Medtronic returned $5.5 billion to shareholders through dividends and share repurchases.

• For FY'25, the company projected organic revenue growth at 4% to 5%.

• Long-term earnings guidance, excluding currency impact, predicts 9% to 11% growth.

Business Progress:

• Medtronic is focusing on restoring their earnings power and is executing cost-out initiatives, pricing maintenance strategies, and maximizing operating overhead efficiencies.

• Differentiated technology launches in markets like AFib, Structural Heart, robots, and diabetes position the company for durable growth.

• Substantial growth was observed in the Diabetes business with the rollout of the MiniMed 780G system.

• The company expanded its Robotics Surgical Technologies sector with the Hugo system.

• Medtronic expresses confidence in fiscal '25 performance with continued innovation and growth.

• In terms of business matters, Medtronic is improving pricing and transforming its product mix, including exiting lower-growth business lines.

• Medtronic shows increased focus on emerging markets, particularly China, and has given emerging market leaders more control over resources for localized healthcare needs.

• Medtronic's Spine franchise showed improvements and other businesses such as Surgical, AFib, and Hugo are their focus to drive them into growth drivers.

More details: Medtronic IR

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