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Edwards Lifesciences Q3 sales beat on TMTT portfolio adoption

By Reuters News


Overview

  • U.S. heart device maker's Q3 revenue grew 10.5%, beating analyst expectations

  • Adjusted EPS for Q3 rose 19% and beat analyst expectations

  • Company raised full-year sales and adjusted EPS guidance after strong Q3 results


Outlook

  • Company raises 2026 sales growth guidance to about 11.5% from 10%-11%

  • Edwards lifts 2026 TAVR sales growth outlook to 9%-9.5% from 8%-9%

  • Company expects Q4 sales of $1.67-$1.75 bln and adjusted EPS of $0.61-$0.69


Result Drivers

  • TAVR PROCEDURE GROWTH - Co said global TAVR sales rose 8%, driven by increased procedure volumes and proactive disease management of severe aortic stenosis

  • TMTT PORTFOLIO ADOPTION - Co said 44% TMTT sales growth was driven by continued adoption of mitral and tricuspid therapies, including PASCAL and EVOQUE systems

  • MANUFACTURING EFFICIENCIES - Co said gross margin improvement was due to manufacturing efficiencies and foreign exchange offsetting the scaling of newer therapies


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Beat

$1.72 bln

$1.68 bln (24 Analysts)

Q3 Adjusted EPS

Beat

$0.80

$0.74 (23 Analysts)

Q3 EPS

$0.53


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 26 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

  • Wall Street's median 12-month price target for Edwards Lifesciences Corporation is $102.00, about 7.2% above its November 3 closing price of $95.19

  • The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 27 three months ago


Reuters Recommended Reads

  • Nov 4 - Smith+Nephew cuts outlook after failed orthopaedics deal talks with J&J

  • Nov 4 - UK's Smith & Nephew misses Q3 revenue estimates, cuts outlook on slower US orthopaedics market

  • Nov 4 - Zimmer Biomet Q3 sales beat estimates, raises FY outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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