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Edwards Lifesciences Corp (EW) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Edwards Lifesciences Corp

CIK: 1099800 Ticker: EW
                                                


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Edwards Lifesciences Corporation
One Edwards Way · Irvine, CA USA · 92614
Phone: 949.250.2500 · Fax: 949.250.2525
www.edwards.com

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

1

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.

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Definitive Proxy Statement (Form DEF 14A)
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Edwards Lifesciences Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Edwards Lifesciences Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Condensed Balance Sheets
Consolidated Condensed Balance Sheets (Parenthetical)
Consolidated Condensed Statements Of Cash Flows
Consolidated Condensed Statements Of Comprehensive Income
Consolidated Condensed Statements Of Operations
Accelerated Share Repurchase
Accelerated Share Repurchase Narrative (Details)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Schedule Of Amounts Reclassified From Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss - Summary Of Activity For Each Component Of Accumulated Other Comprehensive Loss (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt - Narrative (Details)
Debt (Tables)
Debt - Schedule Of Long Term Debt (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Narrative (Details)
Derivative Instruments And Hedging Activities - Schedule Of Cash Flow Hedge Effects On Statement Of Operations (Details)
Derivative Instruments And Hedging Activities - Schedule Of Effect Of Derivative Instruments On Consolidated Condensed Statements Of Operations And Consolidated Condensed Statements Of Comprehensive Income (Details)
Derivative Instruments And Hedging Activities - Schedule Of Effect Of Master-Netting Agreements And Rights Of Offset, Derivative Assets And Liabilities (Details)
Derivative Instruments And Hedging Activities - Schedule Of Location And Fair Value Amounts Of Derivative Instruments Reported In Consolidated Condensed Balance Sheets (Details)
Derivative Instruments And Hedging Activities - Summary Of Derivative Financial Instruments Used To Manage Currency Exchange Rate Risk And Interest Rate Risk (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Narrative (Details)
Earnings Per Share - Schedule Of Computation Of Basic And Diluted Earnings Per Share (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Summary Of Changes In Fair Value Of Contingent Consideration Obligation (Details)
Fair Value Measurements - Summary Of Financial Instruments Measured At Fair Value On A Recurring Basis (Details)
Income Taxes
Income Taxes (Details)
Investments
Investments (Tables)
Investments - Narrative (Details)
Investments - Schedule Of Cost And Fair Value Of Investments In Debt Securities, By Contractual Maturity (Details)
Investments - Schedule Of Investments In Continuous Loss Position (Details)
Investments - Schedule Of Investments In Debt Securities (Details)
Investments - Schedule Of Investments In Unconsolidated Affiliates (Details)
Other Consolidated Financial Statement Detail
Other Consolidated Financial Statement Detail (Tables)
Other Consolidated Financial Statement Detail - Components Of Selected Captions In The Consolidated Condensed Balance Sheets (Details)
Other Consolidated Financial Statement Detail - Schedule Of Accounts Payable And Accrued Liabilities (Details)
Other Consolidated Financial Statement Detail - Supplemental Cash Flow Information (Details)
Revenue
Revenue (Details)
Segment Information
Segment Information (Tables)
Segment Information - Enterprise-Wide Information (Details)
Segment Information - Information About Reportable Segments (Details)
Segment Information - Reconciliations Of Segment Net Sales To Consolidated Net Sales And Segment Pre-Tax Income To Consolidated Pre-Tax Income (Details)
Special Charges (Gains)
Special Charges (Gains) Narrative (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Schedule Of Stock-Based Compensation Expense (Details)
Stock-Based Compensation - Schedule Of Weighted-Average Assumptions For Options And Espp Subscriptions Granted Granted (Details)

Material Contracts, Statements, Certifications & more

Edwards Lifesciences Corp provided additional information to their SEC Filing as exhibits

Ticker: EW
CIK: 1099800
Form Type: 10-Q Quarterly Report
Accession Number: 0001099800-18-000029
Submitted to the SEC: Thu Oct 25 2018 12:39:02 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Orthopedic Prosthetic And Surgical Appliances And Supplies

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