Quarterly guidance

Organic revenue growth
Decline of 1% to 3%.
Adjusted EPS
$0.77 to $0.79.

Annual guidance

Organic revenue growth
Approximately 4%.
Adjusted EPS
$3.16 to $3.18.

Outlook

2027 Market Dynamics
Management expects 2027 to be a trough year, with challenges to grow sales and adjusted EPS due to persistent pressures in EP and WATCHMAN.
China Pricing
Pricing dynamics in China are becoming more challenging, with expected single-digit growth and continued price headwinds in 2027.
Restructuring Program
The company aims to achieve over $500 million in savings over the next 3 years through org structure evolution and supply chain optimization.
WATCHMAN Market
The company assumes market performance will remain similar to Q4 with additional pressure from a new competitive launch in 2027.
EP Franchise
The company expects continued share erosion in 2027 until new product launches like FARAWAVE Ultra arrive in 2028.
Penumbra Acquisition
The acquisition is expected to close in early 2027 and is viewed as a key long-term growth driver.
VITALYST Program
The company is shifting focus to the AMI cardiogenic shock indication and expects to bring the technology to market in 2030.