Edwards Lifesciences Corporation
One Edwards Way · Irvine, CA USA · 92614
Phone: 949.250.2500 · Fax: 949.250.2525
FOR IMMEDIATE RELEASE
Media Contact: Sarah Huoh, 949-250-5070
Investor Contact: David K. Erickson, 949-250-6826
EDWARDS LIFESCIENCES REPORTS SECOND QUARTER RESULTS
IRVINE, Calif., July 26, 2018 — Edwards Lifesciences Corporation (NYSE: EW), the global leader in patient-focused innovations for structural heart disease and critical care monitoring, today reported financial results for the quarter ended June 30, 2018.
Second Quarter and Recent Highlights:
•Sales grew 12 percent; underlying1 sales grew 10 percent
•Global THVT sales grew 20 percent; underlying sales increased 12 percent
•EPS grew 54 percent, aided by special items; adjusted1 EPS grew 15 percent
•2018 adjusted EPS guidance raised to $4.60 to $4.75 from $4.50 to $4.70
•Received CE Mark for Cardioband tricuspid valve reconstruction system
•CMS reopened National Coverage Determination for TAVR
“We are pleased to report strong second quarter performance that delivered double-digit organic sales growth driven by robust sales of our innovative therapies. Adjusted sales grew 10 percent on an underlying basis, consistent with our expectations, and in-line with our projected 10 to 11 percent underlying sales growth for 2018,” said Michael A. Mussallem, chairman and CEO. “We experienced broad-based growth across the Edwards portfolio. Looking forward, as structural heart disease is largely undertreated and underdiagnosed, we remain committed to increasing awareness and providing innovative lifesaving therapies, so that even more patients can benefit.”
Second Quarter 2018 Results
Sales for the quarter ended June 30, 2018 were $944 million, up 12 percent. Total adjusted sales were $972 million, up 10 percent over the second quarter last year. Diluted earnings per share for the quarter was $1.32 per share, while adjusted earnings per share grew 15 percent to $1.24.
Transcatheter Heart Valve Therapy (THVT)
For the quarter, the company reported THVT sales of $585 million, a 20 percent growth rate over the second quarter last year, or 12 percent on an underlying basis. Globally, Edwards' average selling price increased slightly as a result of favorable country mix. Estimated worldwide TAVR procedures
The following information was filed by Edwards Lifesciences Corp (EW) on Thursday, July 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.