Edwards Lifesciences Corp (EW) 10-Q Quarterly Report April 2021

“We recognize that there are many people still struggling with the pandemic around the world, yet as we anniversary the start of the pandemic, I’m encouraged by the signs of recovery,” said Michael A. Mussallem, chairman and CEO. “Structural heart procedures increased as we progressed through the winter months, and our sales growth this quarter was better-than-expected. Although we anticipate the effects of the pandemic will impact structural heart patients in the near term, we have continued confidence in our positive 2021 outlook.”

First Quarter 2021 Results

Sales for the quarter ended March 31, 2021 were $1.2 billion, up 8 percent over the prior year, or 5 percent on an underlying basis. Diluted earnings per share for the quarter were $0.54.

Transcatheter Aortic Valve Replacement (TAVR)

For the quarter, the company reported global TAVR sales of $792 million, a year-over-year increase of 7 percent on a reported basis and 4 percent on an underlying basis. The SAPIEN 3 Ultra platform continues to be differentiated with low complication rates, as well as ease-of-use, and significant potential for length-of-stay efficiency. Earlier this month, the company received approval to begin treating

The following information was filed by Edwards Lifesciences Corp (EW) on Tuesday, April 20, 2021 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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Assess how Edwards Lifesciences Corp's management team is paid from their Annual Proxy

Edwards Lifesciences Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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

Financial - Expense Highlight
Selling, General, and Administrative ("SG&A") Expenses SG&A expenses increased for the three months ended March 31, 2021 due primarily to a) the impact of foreign currency, which increased expenses by $8.9 million due to the weakening of the United States dollar against multiple currencies, primarily the Euro and b) higher personnel-related costs, partially offset by reduced travel spending resulting from COVID-19.

Financial - Income Highlight
The Draft NOPA proposes an increase to our U.S. taxable income which could result in additional tax expense for this period of approximately $200 million.
Financial - Earnings Highlight
23 Table of Contents Our gross profit increase was driven by our sales growth.
Financial - Earnings Highlight
The increase in our diluted earnings per share was driven by our sales growth.
Legal - Other Highlight
The uncertain tax positions are reviewed quarterly and adjusted as events occur that affect potential liabilities for additional taxes, such as lapsing of applicable statutes of limitations, proposed assessments by tax authorities, negotiations between tax authorities, identification of new issues, and issuance of new legislation, regulations, or case law.
Revenue - Product
As a percentage of sales,...Read more
Revenue - Product
Surgical Structural Heart 26 Table...Read more
Revenue - Product
Despite the challenges associated with...Read more
Revenue - Product
25 Table of Contents Transcatheter...Read more
Other - Other
The Credit Agreement provides up...Read more
Financial - Cash Flow
31 Table of Contents Consolidated...Read more
Other - Other
In April 2021, we (1)...Read more
Other - Other
The execution of some or...Read more
Revenue - Geography
The impact of foreign currency...Read more
Financial - Income
29 Table of Contents Our...Read more
Financial - Expense
28 Table of Contents Research...Read more
Revenue - Product
However, slow vaccination progress outside...Read more
Other - Other
As of March 31, 2021,...Read more
Other - Other
Therefore, there is a possibility...Read more
Other - Other
We operate in an international...Read more
Other - Other
We strive to resolve open...Read more
Other - Other
Based on the information currently...Read more
Financial - Shares
The effective rates for the...Read more
Other - Other
We believe the amounts previously...Read more
Revenue - Product
Critical Care Net sales of...Read more
Other - Other
The extent to which the...Read more
Other - Other
Driven by a passion to...Read more
Other - Other
Financial Highlights and COVID-19 The...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

Exhibit 10.1: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: EW
CIK: 1099800
Form Type: 10-Q Quarterly Report
Accession Number: 0001099800-21-000012
Submitted to the SEC: Wed Apr 28 2021 4:09:35 PM EST
Accepted by the SEC: Wed Apr 28 2021
Period: Wednesday, March 31, 2021
Industry: Orthopedic Prosthetic And Surgical Appliances And Supplies

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Edwards Lifesciences Corp (EW) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

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