Medtronic plc (NYSE: MDT) reported fiscal third-quarter 2026 results that exceeded analyst expectations, although shares slipped more than 2% intra-day on Tuesday following the release.

The medical device maker generated revenue of $9.0 billion, representing an 8.7% increase on a reported basis and 6.0% organic growth year over year. The figure surpassed the consensus estimate of $8.89 billion. Adjusted earnings per share came in at $1.36, edging past expectations of $1.34. The company noted the quarter marked its strongest enterprise revenue growth in 10 quarters.

The Cardiovascular Portfolio led performance, with revenue climbing 13.8% as reported and 10.6% organically to $3.46 billion. Cardiac Ablation Solutions delivered particularly strong results, with global revenue up 80% and U.S. revenue surging 137%, fueled by momentum in its pulsed field ablation offerings.

Other segments also posted gains. The Neuroscience Portfolio increased 4.1% as reported to $2.56 billion, the Medical Surgical Portfolio rose 4.9% to $2.17 billion, and the Diabetes segment grew 14.8% to $796 million.

Medtronic reaffirmed its fiscal 2026 outlook, maintaining expectations for approximately 5.5% organic revenue growth and adjusted EPS between $5.62 and $5.66. The guidance includes a potential $185 million headwind from tariffs.