EW
Edwards Lifesciences Corporation85.32
+1.94+2.33%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms, details TAVR share gains
Q&A reinforced prepared remarks' confidence in 8-10% 2026 sales growth, attributing TAVR's 10.6% Q4 surge to sticky share from Boston Scientific's Europe exit and SAPIEN 3 Ultra Resilia pricing amid high-single-digit procedures. Management unpacked Q4 SG&A jump as aggressive patient access bets—like AHA partnership and guideline education—poised to moderate for margin gains. No contradictions; lifetime management emerged as SAPIEN edge for future valves. Buybacks rolled on ($900M in 2025, $2B left), small M&A active. Analysts' NCD and moderate AS probes drew cautious timelines: final Q4 2026, data at TCT. Momentum holds firm. Watch TMTT scaling.
Key Stats
Market Cap
50.09BP/E (TTM)
37.42Basic EPS (TTM)
2.28Dividend Yield
0%Recent Filings
10-K
FY2025 results
Edwards Lifesciences posted FY2025 net sales of $6.1B, up 11.5% y/y, with TAVR at $4.5B (+9.3%) driving three-quarters of revenue while TMTT exploded 56% to $551M on PASCAL and EVOQUE adoption. U.S. led growth at 10.5% to $3.5B, Europe surged 14.8% to $1.5B, but gross margins slipped from higher ops costs and net income fell to $1.1B amid $325M litigation hits and $147M impairments. Q4 momentum shone in TMTT acceleration and RESILIA launches, yet R&D ate 18% of sales. Buybacks claimed $885M; $600M debt matures 2028, revolver dry. Uncertain tax positions risk quarterly earnings swings.
8-K
Q4 sales beat, TMTT surges
Edwards Lifesciences posted Q4 sales of $1.57B, up 13.3% reported and 11.6% constant currency, driven by TAVR at $1.16B (up 12.0%) and TMTT surging over 40% to $156M. GAAP EPS dipped to $0.11 amid $208.6M litigation hit and $99.8M impairment, yet adjusted EPS held at $0.58. TMTT steals the show. Company raised FY2026 confidence: 8-10% sales growth, adjusted EPS $2.90-$3.05.
8-K
Court blocks JenaValve deal
U.S. District Court blocked Edwards Lifesciences' proposed JenaValve acquisition on January 9, 2026, following FTC motion; deal is off. Edwards disagrees, stressing benefits for underserved aortic regurgitation patients, yet presses on with SOJOURN valve and JOURNEY trial. Revised 2026 adjusted EPS guidance: $2.90–$3.05. Deal dead.
10-Q
Q3 FY2025 results
Edwards Lifesciences posted Q3 net sales of $1.55B, up 14.7% y/y, with TAVR up 12.4% y/y to $1.15B and TMTT surging 59.3% y/y to $145M, while gross margin slipped to 77.8% from 80.6% y/y on FX headwinds and higher costs. Operating income fell to $307M from $351M y/y, pressured by $90M certain litigation expenses and $40M intangible impairment, yet cash from operations hit $1.14B YTD. Debt steady at $598M; cash equivalents $2.69B. Litigation clouds profitability.
8-K
Q3 sales beat, guidance raised
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