01—Abstract
Summary
Summary of the 8-K filed October 29, 2026. Cited figures are marked; the original filing is the authoritative source.
Resmed Inc. (NYSE: RMD, ASX: RMD) reported results for its first quarter of fiscal year 2027, the quarter ended September 30, 2026, in an press release furnished as Exhibit 99.1.
Revenue rose 6% to $1.415 billiona (7% on a core constant currency basis). GAAP diluted EPS was $2.92, up 23% from $2.37, and non-GAAP diluted EPS was $2.91, up 14% from $2.55. GAAP net income was $418.4 million versus $348.5 million a year earlier.
Operating cash flow was $422 millionb and free cash flow was $374 million. The company returned more than $1.0 billion to shareholders through share repurchases and dividends during the quarter, with treasury stock purchases of $936.4 million, and completed the divestiture of the MatrixCare business. Revenue growth was led by Americas Sleep and Breathing Health (up 7% core constant currency) and Rest of World Sleep and Breathing Health (up 8%), while Residential Care Software rose 5% on a core constant currency basis.
Non-GAAP gross margin expanded 50 basis points to 62.5%. Fiscal 2027 guidance was reaffirmed, with core constant currency revenue growth of 5% to 7%, reported revenue of $5.75 to $5.85 billionc, and non-GAAP diluted EPS of $12.00 to $12.25, all unchanged from the August 6, 2026 guidance.
The board declared a quarterly cash dividend of $0.66d per share, payable December 17, 2026 to holders of record on November 12, 2026, with an ex-dividend date of November 11, 2026. The company also announced that Carol Burt will become Lead Director effective November 15, 2026, following the planned retirement of Ron Taylor.
02—Key points
Key Highlights
- Revenue increased 6% to $1.415 billion, or 7% on a core constant currency basis, driven by sleep devices and masks and accessories.
- GAAP diluted EPS rose 23% to $2.92; non-GAAP diluted EPS rose 14% to $2.91.
- Non-GAAP gross margin increased 50 basis points to 62.5%, predominantly from productivity pipeline execution.
- Operating cash flow was $422 million and free cash flow was $374 million; free cash flow declined 10% year over year.
- Returned more than $1.0 billion to shareholders in the quarter through share repurchases and dividends, supported by proceeds from the MatrixCare divestiture.
- Fiscal 2027 guidance was unchanged: core constant currency revenue growth of 5% to 7%, reported revenue of $5.75 to $5.85 billion, and non-GAAP diluted EPS of $12.00 to $12.25.
- Board declared a quarterly dividend of $0.66 per share, with a November 12, 2026 record date and December 17, 2026 payment date; Carol Burt will become Lead Director effective November 15, 2026.
03—Questions
Frequently Asked Questions
Did Resmed change its guidance for fiscal 2027?
No. The filing shows fiscal 2027 guidance as of October 29, 2026 unchanged from the August 6, 2026 guidance: core constant currency revenue growth of 5% to 7%, reported revenue of $5.75 to $5.85 billion, and non-GAAP diluted EPS of $12.00 to $12.25.
What drove the difference between GAAP and non-GAAP earnings this quarter?
GAAP diluted EPS of $2.92 was higher than non-GAAP diluted EPS of $2.91. The non-GAAP reconciliation includes adjustments for amortization of acquired intangibles, restructuring and business transformation expenses, and acquisition and divestment related expenses, offset by a $62 million gain on divestment of a subsidiary, which reduced non-GAAP results by $0.38 per share.
How much did Resmed return to shareholders, and what is the dividend?
The company returned more than $1.0 billion to shareholders through share repurchases and dividends during the quarter. Purchases of treasury stock totaled $936.4 million and dividends paid were $95.0 million. The board declared a quarterly cash dividend of $0.66 per share, with a record date of November 12, 2026 and payment on December 17, 2026.
What changed in how Resmed presents its expenses?
Beginning in the first quarter of fiscal 2027, restructuring expenses are classified within cost of sales, research and development, and selling, general and administrative expenses based on function, rather than as a separate line. Amortization of acquired intangibles related to cost of sales is no longer a separate line, and amortization related to operating expenses is now within selling, general and administrative expenses. Prior-period amounts were reclassified, and the filing states these changes had no effect on previously reported income from operations, net income, earnings per share or cash flows.
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