“And regarding the portfolio management decisions we announced today, while the Street's FY'25 numbers didn't yet reflect the potential separation, with today's decision we're able to increase investment in innovation-driven growth without near-term earnings dilution or an ongoing impact to cash-flow, all with a focus on optimizing long-term shareholder value.”

In context

“.15 at the midpoint from where we initially started the year. For the fourth quarter, we expect adjusted EPS of $1.44 to $1.46. And regarding currency based on recent rates, we're seeing an unfavorable impact of 7% on full year EPS, including an unfavorable 5% impact in the fourth quarter. Lastly, while we'll give our fiscal year '25 guidance on our earnings call in May, after we finish our planning, I want to share our early thoughts. You've seen us deliver durable revenue growth for several quarters, and we expect that to continue. Down the P&L inflation, currency and tax are currently headwinds to earnings growth. And we expect to continue to increase our investments in R&D. That said, we're very focused on driving offsets, where we can, and improving the earnings power of the company. And regarding the portfolio management decisions we announced today, while the Street's FY'25 numbers didn't yet reflect the potential separation, with today's decision we're able to increase investment in innovation-driven growth without near-term earnings dilution or an ongoing impact to cash-flow, all with a focus on optimizing long-term shareholder value. I want to close by expressing my sincere gratitude to all of our employees for your hard work and unwavering commitment to the Medtronic mission. Your dedication was instrumental in achieving our results this quarter, and making a difference for so many people around the world. Thank you. Geoff, turning it back to you to take it home. Geoff Martha: Okay, thank you. But before I wrap up, I want to note that Tom Holleran passed away last week at the age of 94. Tom provided decades of leadership to our company. First as General Counsel, next as President and as a Director on our Board for many, many years. In the early 60s, Tom was one of the instrumental people who created our Medtronic mission together with our founder, Earl Bakken. Tom was also a significant leader in the twin cities and”