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Free Post Earnings Research Report: Edwards Lifesciences’ Adjusted Sales Grew 9.3%; Adjusted EPS Surged 30%

Stock Monitor: Apollo Endosurgery Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 08, 2018 / If you want access to our free earnings report on Edwards Lifesciences Corp. (NYSE: EW), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EW. Edwards Lifesciences reported its first quarter fiscal 2018 operating and financial results on April 24, 2018. The medical device maker reported better than expected earnings. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:


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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Edwards Lifesciences most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

Edwards Lifesciences' sales for the quarter ended March 31, 2018, were $894.8 million, up 1.3% compared to sales of $883.5 million. The Company's reported quarter total adjusted sales were $937.5 million, up 9.3% on a y-o-y basis. Analysts' were expecting sales of $932.3 million.

During Q1 2018, Edwards Lifesciences' adjusted gross profit margin was 74.5% compared to 75.7% in Q1 2017. This reduction was driven primarily by the impact from forex impact, partially offset by a more profitable product mix. For Q1 2018, the Company's selling, general, and administrative expenses (SG&A) increased 11.5% to $256.0 million for the reported quarter, driven by the strengthening of the Euro against the US Dollar and personnel related expenses.

Edwards Lifesciences' research and development (R&D) investments for Q1 2018 grew 11.3% to $143.2 million, or 16.0% of sales. This increase was primarily the result of continued investments in transcatheter heart valve programs, including spending on clinical trials. For the reported quarter, the Company had tax rate of 21.6% driven by a $24.0 million reserve. Excluding the impact of this reserve and other special items, the tax rate would have been 13.2%.

For Q1 2018, Edwards Lifesciences' earnings totaled $206.6 million, or $0.96 per share, compared to earnings of $230.2 million, or $1.06 per share. Excluding special items' Edwards Lifesciences' adjusted earnings grew 29.8% to $1.22 per share versus $0.94 per share in the year earlier comparable quarter. The Company's earnings beat Wall Street's estimates of $1.11 per share.

Edwards Lifesciences' Segment Results

For Q1 2018. Edwards Lifesciences reported Transcatheter Heart Valve Therapy (THVT)'s sales of $551.6 million, reflecting a 2.3% growth rate over sales of $539.2 million in Q1 2017. For the reported quarter, adjusted THVT's sales were $559.6 million, up 12.4% on an underlying basis including the adjustment for stocking inventory in Germany. Edwards Lifesciences is expecting FY18 THVT's underlying sales growth rate to be at the higher-end of 11% to 15%.

During Q1 2018, the Surgical Heart Valve Therapy sales were $179.5 million, down 10.0% compared to Q1 2017 sales of $199.5 million, up 2.4% on an underlying basis. The segment's adjusted results excluded a sales return reserve related to conversion to a consignment inventory model.

The Critical Care sales jumped 13.0% to $163.7 million compared to $144.8 million in Q1 2017 and reflecting an 8.4% growth on an underlying basis. This performance was driven by strong growth across the portfolio, led primarily by the HemoSphere advanced monitoring platform and strong regional performance in the US and Asia/Pacific.

Cash Matters

Edwards Lifesciences' adjusted free cash flow was $108.1 million in Q1 2018. As of March 31, 2018, the Company's cash, cash equivalents, and short-term investments totaled $1.5 billion at March 31, 2018, while its total debt was $1.1 billion.


For the full year 2018, Edwards Lifesciences remains confident in achieving the higher end of its sales guidance range of $3.5 to $3.9 billion. Additionally, the Company is now expecting FY18 adjusted earnings to be between $4.50 to $4.70 per share, up from its previous guidance of $4.43 to $4.63 per share.

For the second quarter 2018, at current foreign exchange rates, Edwards Lifesciences is projecting total sales to be between $950 million and $1.0 billion, and adjusted earnings to be in the band of $1.05 to $1.15 per share.

Stock Performance Snapshot

May 07, 2018 - At Monday's closing bell, Edwards Lifesciences' stock marginally advanced 0.98%, ending the trading session at $136.09.

Volume traded for the day: 1.23 million shares.

Stock performance in the last three-month – up 7.41%; previous six-month period – up 34.24%; past twelve-month period – up 23.07%; and year-to-date – up 20.74%

After yesterday's close, Edwards Lifesciences' market cap was at $28.61 billion.

Price to Earnings (P/E) ratio was at 34.41.

The stock is part of the Healthcare sector, categorized under the Medical Appliances & Equipment industry. This sector was up 0.2% at the end of the session.


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