Medtronic plc's (MDT) CEO Geoff Martha on Q1 2023 Results - Earnings Call Transcript

Aug. 23, 2022 12:43 PM ETMedtronic plc (MDT) StockMDT
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Q1: 2022-08-23 Earnings Summary

EPS of $1.13 beats by $0.01
 | Revenue of $7.37B (-7.71% Y/Y) beats by $162.00M

Medtronic plc (NYSE:MDT) Q1 2023 Earnings Conference Call August 23, 2022 8:00 AM ET

Company Participants

Ryan Weispfenning - VP and Head, IR
Geoff Martha - Chairman and CEO
Karen Parkhill - CFO
Sean Salmon - EVP and President, Cardiovascular Portfolio
Bob White - EVP and President, Medical Surgical Portfolio
Brett Wall - EVP and President, Neuroscience Portfolio
Que Dallara - EVP and President, Diabetes Operating Unit

Conference Call Participants

Robbie Marcus - JPMorgan
Vijay Kumar - Evercore ISI
Travis Steed - Bank of America Global Research
Cecilia Furlong - Morgan Stanley
Larry Biegelsen - Wells Fargo Securities
Joanne Wuensch - Citi
Jayson Bedford - Raymond James
Steve Lichtman - Oppenheimer & Co.
Rich Newitter - Truist Securities
Rick Wise - Stifel, Nicolaus & Company

Ryan Weispfenning

Good morning, and welcome to Medtronic’s Fiscal Year 2023 First Quarter Earnings Broadcast. I’m Ryan Weispfenning, Vice President and Head of Medtronic Investor Relations.

I’m inside one of our Medtronic mobile labs, which is making a stop here at our operational headquarters in Minneapolis. These high-tech mobile classrooms will give about 5,000 U.S. clinicians every year the opportunity to train on some of our most advanced state-of-the-art technology, including our O-arm and StealthStation. As you can see, it’s on 18 wheels. Our fleet of mobile lab trucks allows us to play big literally as they traverse the United States. In fact, with over 200 stops planned this fiscal year, they’re likely coming to a hospital near you.

Now before we go inside to hear our prepared remarks, I’ll share a few details about today’s earnings broadcast.

Joining me are Geoff Martha, Medtronic Chairman and Chief Executive Officer; and Karen Parkhill, Medtronic Chief Financial Officer. Geoff and Karen will provide comments on the results of our first quarter, which ended on July 29, 2022, and our outlook for the remainder of

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