MDT · 10-Q · 2026Q3 · Full report
Gross Margin Drivers
Medtronic plc · 2026-09-03 · Importance 54 · Surprise 40 · Matches filing data
Cost of products sold increased to $3.4 billion for the three months ended July 31, 2026, from $3.0 billion in the prior-year period. Cost of products sold as a percentage of net sales was flat year over year despite the higher sales base. Favorable pricing and cost-down initiatives offset unfavorable product mix effects. Tariffs did not have a material year-over-year impact after including tariff refunds.
Key facts
- Cost of products sold for the three months ended July 31, 2026 was $3,400 million compared to $3,000 million for the corresponding period in the prior fiscal year, and cost of products sold as a percentage of net sales was flat year-over-year. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -4.1% | Cost of products sold for the three months ended July 31, 2026 was $3,400 million compared to $3,000 million for the corresponding period… |