Edwards Lifesciences Shares Slide As Q2 Results Miss Expectations, Lowers FY22 Sales Outlook
Edwards Lifesciences Corp (NYSE: EW) reported second-quarter sales of $1.37 billion, flat compared to 2Q21, missing the consensus of $1.4 billion.
Adjusted EPS was $0.63, which missed the consensus of $0.64.
The adjusted gross profit margin was 80.5% for the quarter, compared to 75.9% in 2Q21.
Transcatheter aortic valve replacement sales grew to $907 million, up 1%. Globally, the company's average selling price and market position were stable.
Surgical Structural Heart sales were $229 million, down 4% Y/Y.
EW's cash, cash equivalents, and short-term investments totaled $1.5 billion as of June 30, 2022.
3Q22 Guidance: Edwards Lifesciences expects revenue of $1.30 billion and $1.37 billion (consensus $1.44 billion) and adjusted EPS of $0.58 to $0.66 (consensus $0.65).
FY22 Guidance: Edwards Lifesciences expects sales of $5.35 billion to $5.55 billion (prior $5.5 billion - $6.0 billion) vs. consensus of $5.71 billion and adjusted EPS of $2.50 - $2.65 (consensus of $2.56).
Price Action: EW shares are trading lower by 5.86% at $101 during the post-market session on Thursday.
Photo via Wikimedia Commons
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