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: Investor Relations, 949-250-2806
EDWARDS LIFESCIENCES REPORTS FIRST QUARTER RESULTS
IRVINE, Calif., April 23, 2019 — 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 March 31, 2019.
First Quarter and Recent Highlights
•Sales grew 11% to $993 million; underlying1 sales grew 9%
•TAVR sales grew 8%; underlying sales grew 10%
•EPS was $1.18; adjusted EPS was $1.32
•2019 adjusted EPS guidance raised to $5.10 to $5.35 from $5.05 to $5.30
•Edwards SAPIEN 3 valve proved superior to surgery in PARTNER 3 Trial
•Edwards PASCAL transcatheter system received CE Mark
•Completed the acquisition of CASMED, a cerebral oximetry technology company
“It’s been an exciting start to 2019 with multiple positive developments for the company and the patients we serve,” said Michael A. Mussallem, chairman and CEO. “Most notably, we announced groundbreaking results of the PARTNER 3 Trial, which demonstrated the superiority of our SAPIEN 3 transcatheter valve technology. This marks a turning point in the advancement of a therapy that transforms the lives of patients suffering from aortic stenosis. We are also pleased to report solid first quarter performance, consistent with our expectations, driven by our broad portfolio of new technologies. We are more convinced than ever in the tremendous opportunity to drive success for many years to come through our differentiated strategy of focus, innovation and leadership.”
First Quarter 2019 Results
Sales for the quarter ended March 31, 2019 were $993 million, up 11 percent over the prior year, or nine percent on an underlying basis. Diluted earnings per share for the quarter was $1.18, while adjusted earnings per share grew eight percent, higher than expected, to $1.32.
Transcatheter Aortic Valve Replacement (TAVR)
For the quarter, the company reported TAVR sales of $598 million, an eight percent growth rate over the first quarter last year, or 10 percent on an underlying basis. Edwards grew at a slightly lower
The following information was filed by Edwards Lifesciences Corp (EW) on Tuesday, April 23, 2019 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.