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 THIRD QUARTER RESULTS
IRVINE, Calif., October 23, 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 September 30, 2018.
Third Quarter and Recent Highlights:
•Sales grew 10 percent; underlying1 sales grew 11 percent
•Global THVT sales grew 16 percent; underlying sales increased 13 percent
•EPS grew 34 percent; adjusted1 EPS grew 27 percent
•Reconfirmed 2018 total company adjusted sales and EPS guidance ranges
•Fourth quarter THVT underlying sales guidance moderated; Critical Care guidance raised
•Commencement of U.S. study and European introduction of CENTERA valve system
•Approval to begin US pivotal study of PASCAL mitral repair system
“We are pleased to report strong third quarter performance that delivered 11 percent sales growth on an underlying basis, consistent with our expectations, driven by our impressive portfolio of innovative technologies. Our results to-date keep us on track for another year of strong financial performance while we also aggressively invest in our future growth,” said Michael A. Mussallem, chairman and CEO. “Looking forward, based on recent learnings, we have increased confidence that our innovative lifesaving therapies can benefit many more patients whose structural heart disease is deadly and undertreated today.”
Third Quarter 2018 Results
Sales for the quarter ended September 30, 2018 were $907 million, up 10 percent. Total adjusted sales were $921 million, up 11 percent over the third quarter last year. Diluted earnings per share for the quarter was $1.06 per share, while adjusted earnings per share grew 27 percent to $1.07.
Transcatheter Heart Valve Therapy (THVT)
For the quarter, the company reported THVT sales of $558 million, a 16 percent growth rate over the third quarter last year, or 13 percent on an underlying basis. Estimated global TAVR procedures continued to grow robustly in the mid-teens. Edwards' worldwide sales grew at a lower rate due to a
The following information was filed by Edwards Lifesciences Corp (EW) on Tuesday, October 23, 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.