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: Mark Wilterding, 949-250-2826
EDWARDS LIFESCIENCES REPORTS SECOND QUARTER RESULTS
IRVINE, Calif., July 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 June 30, 2019.
Second Quarter and Recent Highlights
•Sales grew 15% to $1.1 billion; underlying1 sales grew 14%
•TAVR sales grew 16%; underlying grew 18%
•EPS was $1.14; adjusted EPS was $1.38
•Announced increased 2019 sales and EPS guidance
•Strategic decision to discontinue CENTERA platform drove a $46 million charge
•Favorable TAVR National Coverage Determination issued in June
•Expects Q3 FDA approval of the SAPIEN 3 valve for patients with low surgical risk
“We are pleased to report stronger than expected sales growth in the second quarter, which continued a long-term trend of reaching more patients with innovative therapies and creating value,” said Michael A. Mussallem, chairman and CEO. “Increased demand for TAVR therapy resulted in underlying total company sales growth of 14 percent, which also reflected strength in all four of our product lines across all regions.”
Second Quarter 2019 Results
Sales for the quarter ended June 30, 2019 were $1.1 billion, up 15 percent over the prior year, or 14 percent on an underlying basis. Diluted earnings per share for the quarter was $1.14, while adjusted earnings per share grew 11 percent, higher than expected, to $1.38.
Transcatheter Aortic Valve Replacement (TAVR)
For the quarter, the company reported TAVR sales of $678 million, an increase of 16 percent over the second quarter last year, or 18 percent on an underlying basis. Edwards grew in-line with estimated global procedure growth. Global average selling prices remained stable, and the company estimates its global competitive position was consistent with the first quarter and prior year.
The following information was filed by Edwards Lifesciences Corp (EW) on Tuesday, July 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.