Latest news with #BernardZovighian
Yahoo
5 days ago
- Business
- Yahoo
Edwards loses longtime TAVR leader Larry Wood
This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter. By the numbers Q2 sales: $1.53 billion 11.9% increase year over year TAVR sales: $1.1 billion 8.9% increase year over year TMTT sales: $134.5 million 61.9% increase year over year Edwards Lifesciences boosted full-year sales and earnings estimates on growth in transcatheter aortic valve replacement and said Larry Wood, longtime leader of the TAVR business, will leave the company. Wood, Edwards' corporate vice president of TAVR since 2007, will join Procept BioRobotics as CEO on Sept. 2, Procept announced. Dan Lippis, a 15-year Edwards veteran currently overseeing the Japan, Greater China and Asia Pacific region, will replace Wood as head of TAVR, CEO Bernard Zovighian said Thursday on an earnings call. Wood helped transform Edwards' TAVR business into a multibillion-dollar franchise and will be hard to replace, but the company's well-known technologies, compendium of clinical data and robust commercial organization help allay concerns, Stifel analyst Rick Wise wrote to clients. Edwards reported a nearly 12% sales increase in the second quarter, driven by TAVR sales that beat the company's expectations and continued adoption of repair and replacement devices to treat mitral and tricuspid valve diseases. Zovighian attributed the accelerated TAVR sales to clinicians' focus on data from the company's Early TAVR study, released in October, that showed patients with severe aortic stenosis with no symptoms had better outcomes after a TAVR procedure than if managed through clinical surveillance. The company received an expanded U.S. label indication in May for use of the Sapien 3 TAVR platform in asymptomatic patients and has also gained approval in Europe for the patient population, becoming the first valve maker in both markets to offer the treatment for people without symptoms. Boston Scientific's decision in May to exit the TAVR market in Europe resulted in a 'modest' contribution to Edwards' sales in the quarter, the company said. The renewed strength in TAVR, following a slowdown last year tied to heart team capacity challenges at hospitals, prompted Edwards to raise its full-year sales growth forecast to 9%-10% from 8%-10% and TAVR sales outlook to 6%-7% from 5%-7%. The company now expects adjusted earnings per share to be at the high end of a range of $2.40 to $2.50. Mizuho Americas analyst Anthony Petrone, in a note following the earnings update, called the TAVR opportunity in severe asymptomatic cases 'expansive' ahead of a potential Medicare national coverage decision and treatment guideline shifts that could come in the next year or so. 'The evolution of policy and guideline changes together with the potential of a new U.S. NCD will provide important catalysts, resulting in a multiyear growth opportunity for TAVR overall,' Zovighian said on the call. In Edwards' smaller but fast-growing mitral and tricuspid business, the CEO said both the Evoque tricuspid valve replacement and Pascal valve repair devices were significant contributors to growth as sales continue to scale up. Zovighian said U.S. approval of the Sapien M3 transcatheter mitral valve replacement system is expected in the first half of 2026. Pivotal trial results are expected to be presented at the Transcatheter Cardiovascular Therapeutics conference later this year. Edwards gained Europe's CE mark for Sapien M3 in April. Recommended Reading Edwards gains expanded TAVR label for asymptomatic patients Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Edwards Lifesciences Corp (EW) Q2 2025 Earnings Call Highlights: Strong Sales Growth and Raised ...
Total Sales: $1.53 billion, a growth of 10.6% year-over-year. TAVR Sales: $1.1 billion, increased by 7.8% over the prior year. TMTT Sales: $133 million, grew 57% year-over-year. Surgical Sales: $267 million, increased by 6.8% over the prior year. Adjusted EPS: $0.67 for the quarter. GAAP EPS: $0.57, including a one-time charge related to external investments. Adjusted Gross Profit Margin: 77.6% for the quarter. SG&A Expenses: $502 million, 32.8% of sales. R&D Expenses: $276 million, 18% of sales. Adjusted Operating Profit Margin: 28.2% for the quarter. Cash and Cash Equivalents: Approximately $3 billion as of June 30. Full-Year Sales Growth Guidance: Raised to 9% to 10%. Full-Year Adjusted EPS Guidance: High end of the original range of $2.40 to $2.50. Third Quarter Sales Guidance: $1.46 billion to $1.54 billion. Third Quarter Adjusted EPS Guidance: $0.54 to $0.60. Warning! GuruFocus has detected 4 Warning Signs with EW. Release Date: July 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Edwards Lifesciences Corp (NYSE:EW) reported double-digit sales growth in Q2 2025, with total sales of $1.53 billion, a 10.6% increase, surpassing expectations. The company raised its full-year 2025 sales growth guidance to 9% to 10% and adjusted EPS guidance to the high end of the original range of $2.40 to $2.50. The Transcatheter Aortic Valve Replacement (TAVR) segment saw global sales increase by 7.8%, driven by the adoption of SAPIEN technology and recent approvals for asymptomatic indications. The Transcatheter Mitral and Tricuspid Therapies (TMTT) segment achieved a 57% sales growth, with significant contributions from PASCAL and EVOQUE technologies. Edwards Lifesciences Corp (NYSE:EW) maintains a strong balance sheet with approximately $3 billion in cash and cash equivalents, providing financial flexibility for future investments and share repurchases. Negative Points The company's adjusted gross profit margin decreased to 77.6% from 80% in the same period last year, impacted by additional manufacturing expenses and foreign exchange rates. Despite strong performance, the company faces potential headwinds from tariffs and the planned acquisition of JenaValve, which could negatively impact earnings per share. The exit of a competitor in Europe presents a challenge in maintaining market share, as Edwards Lifesciences Corp (NYSE:EW) needs to justify its higher price point compared to competitors. The company anticipates increased SG&A spending in the second half of the year, which could pressure operating margins. The potential impact of changes in the National Coverage Determination (NCD) for TAVR remains uncertain, which could affect future growth and market dynamics. Q & A Highlights Q: What drove the better-than-expected performance in US TAVR, and is the asymptomatic indication already impacting results? A: Bernard Zovighian, CEO, explained that the quarter exceeded expectations due to a renewed focus on TAVR, driven by the early TAVR study, which sparked conversations in the clinical community. Although the asymptomatic indication is not yet a major factor, the focus on managing severe aortic stenosis patients has increased. Larry Wood, Group President of TAVR, added that the attention on patient management has improved, even if asymptomatic patients are not yet significantly contributing. Q: Can you provide insights into TAVR performance outside the US, particularly in Europe and Japan? A: Daniel Lippis, Corporate Vice President, noted that the rollout of the S3 platform in Europe is progressing well, with positive feedback from physicians. The recent asymptomatic indication is expected to be a long-term game changer. In Japan, Edwards is focused on expanding therapy due to significant undertreatment and an aging population. The company is working to regain market share lost to new competitors. Q: Why didn't Edwards raise EPS guidance more significantly, given the strong quarter and tariff improvements? A: Scott Ullem, CFO, stated that while the second quarter was strong, there are still headwinds, such as the anticipated negative impact from the JenaValve acquisition. Despite these challenges, Edwards raised its full-year EPS guidance to the high end of the original range. The company remains committed to long-term EPS growth beyond 2025. Q: What impact could the CMS NCD update have on TAVR, and what is the likelihood of moving to a single operator requirement? A: Larry Wood explained that updating the NCD is crucial for covering asymptomatic patients and streamlining operator and facility requirements. This could improve patient access and relieve capacity challenges. Moving to a single operator could optimize patient flow, allowing both surgeon-led and cardiology-led TAVR teams to operate, enhancing care efficiency. Q: How is Edwards addressing the competitive landscape in TMTT, particularly with EVOQUE and the potential for new entrants? A: Daveen Chopra, Corporate Vice President, emphasized the excitement around EVOQUE, with real-world outcomes matching or exceeding clinical trial results. The company is focused on continuous innovation, with plans for future generations of EVOQUE to enhance performance. Bernard Zovighian added that demand for EVOQUE is high, and Edwards is committed to meeting patient needs with ongoing innovation and evidence generation. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
24-07-2025
- Business
- Business Wire
Edwards Lifesciences Reports Second Quarter Results
IRVINE, Calif.--(BUSINESS WIRE)--Edwards Lifesciences (NYSE: EW) today reported financial results for the quarter ended June 30, 2025. 2025 Outlook Increasing Edwards sales growth guidance to 9-10% from 8-10% Increasing TAVR sales guidance to 6-7% from 5-7%; reiterating TMTT and Surgical sales guidance Increasing adjusted 1 EPS guidance to the high-end of $2.40 to $2.50 Expected clinical presentations: 7-year PARTNER 3 low-risk, ENCIRCLE, TRISCEND II sub-analysis 'We are pleased to report strong second quarter results that delivered double-digit sales growth. Based on our better-than-expected first half performance and the many catalysts across our portfolio, we are confident in our full-year outlook and are raising our sales and EPS guidance,' said Bernard Zovighian, CEO. 'Edwards is increasingly distinguished by our balanced portfolio of leading therapies across aortic, mitral and tricuspid which will position us for leadership for many years to come as we help even more patients around the world.' Transcatheter Aortic Valve Replacement (TAVR) In the second quarter, the company reported TAVR sales of $1.1 billion, which grew 8.9% versus the prior year or 7.8% on a constant currency basis. Constant currency growth was comparable in the United States and outside of the U.S. On a global basis, Edwards' competitive position and pricing remained stable. TAVR growth in the quarter was better than expected, as clinicians continue to adopt Edwards' best-in-class SAPIEN technology. In the U.S., the clinical conversations around the EARLY TAVR trial data are bringing a renewed focus to streamlining the management of patients with severe aortic stenosis (AS), enabling closer follow-up and more timely treatment of patients with aortic stenosis. Outside of the U.S., the company continues to focus on the value of its differentiated technology and increasing therapy adoption, especially in areas where many patients go without care. In Europe, the exit of a competitor resulted in a rebalancing of market share and a modest contribution to Edwards' sales. In Japan, TAVR sales grew in the mid-single digits, an improvement over last quarter and consistent with the company's total sales growth in the region. Transcatheter Mitral and Tricuspid Therapies (TMTT) Edwards' unique TMTT portfolio of repair and replacement therapies to treat mitral and tricuspid diseases drove another quarter of impressive growth, with a meaningful contribution to overall company performance. Second quarter sales were $134.5 million or $133 million adjusted, representing growth of 61.9% year-over-year or 57.1% adjusted. Adoption of the company's differentiated PASCAL technology remains strong in both new and existing centers around the world. Edwards continues to see growing interest in the therapy, reinforcing the significant unmet needs of these patients. The EVOQUE system commercial launch is progressing well in the U.S. and Europe, with excellent real-world outcomes for patients consistent with the successful TRISCEND II clinical trial results. Edwards continues to see great demand for the therapy and continues to develop important evidence to support expansion globally. The company is pleased with the addition of its latest TMTT technology, the pioneering SAPIEN M3 mitral valve replacement system, which received CE Mark approval in Q2. Clinician feedback, while early, has been positive. With PASCAL, EVOQUE and the recent CE Mark of SAPIEN M3, Edwards' vision for TMTT has developed into a growth portfolio of groundbreaking transcatheter repair and replacement technologies, meeting the complex needs of underserved patients with mitral and tricuspid diseases. Surgical In Surgical, second quarter sales of $267 million increased 7.7% over the prior year, or 6.8% on a constant currency basis. The company continues to see positive procedure growth globally for the many patients best treated with its premium RESILIA tissue portfolio including the INSPIRIS, MITRIS and KONECT technologies. The company's KONECT aortic valved conduit received CE Mark approval in Europe during the quarter and the Surgical team made continued progress advancing important innovations around the world. Additional Financial Results For the quarter, the gross profit margin was 77.5%, in-line with the company's expectations, compared to 79.9% in the same period last year. This year-over-year change was driven by additional manufacturing expenses related to the expansion of new therapies as well as foreign exchange. Selling, general and administrative (SG&A) expenses in the second quarter were $502 million, or 32.8% of sales compared to $448 million in the same period last year. The company expects increased SG&A spending in the second half of the year due to deferral of certain spending year-to-date as well as anticipated spending related to JenaValve. Research and development (R&D) expense was $276 million in the quarter or 18.0% of sales, compared to $272 million or 19.8% of sales in the same period last year. This increase in spending and decrease in R&D as a percentage of sales reflects Edwards' strategic prioritization of investments in its expanding structural heart portfolio. Operating profit margin in the second quarter of 26.8%, or 28.2% adjusted, benefitted from the company's better-than-expected sales performance and the deferral of certain spending to the second half of the year. Cash and cash equivalents were approximately $3 billion as of June 30, 2025. Total debt was approximately $600 million. Outlook Edwards is increasing its full-year total company sales growth guidance to 9% to 10% with sales of $5.9 billion to $6.1 billion. In addition, the company is increasing its underlying growth rate guidance for TAVR to 6% to 7%, driven by strong performance, and its sales guidance range for TAVR to $4.3 billion to $4.5 billion. Sales guidance for the company's TMTT and Surgical product groups remains unchanged. The company now expects full-year adjusted EPS to be at the high end of its original range of $2.40 to $2.50. For the third quarter, the company projects total sales to be between $1.46 and $1.54 billion and adjusted EPS of $0.54 to $0.60. About Edwards Lifesciences Edwards Lifesciences is the leading global structural heart innovation company, driven by a passion to improve patient lives. Through breakthrough technologies, world-class evidence and partnerships with clinicians and healthcare stakeholders, our employees are inspired by our patient-focused culture to deliver life-changing innovations to those who need them most. Discover more at and follow us on LinkedIn, Facebook, Instagram and YouTube. Conference Call and Webcast Information The company will be hosting a conference call today at 2:00 p.m. PT to discuss its second quarter results. To participate in the conference call, dial (877) 704-2848 or (201) 389-0893. The call will also be available live and archived on the 'Investor Relations' section of the Edwards website at or This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements can sometimes be identified by the use of words such as 'may,' 'will,' 'should,' 'anticipate,' 'believe,' 'plan,' 'project,' 'estimate,' 'forecast,' 'potential,' 'predict,' "early clinician feedback," 'expect,' 'intend,' 'guidance,' 'outlook,' 'optimistic,' 'aspire,' 'confident' or other forms of these words or similar expressions and include, but are not limited to, statements made by Mr. Zovighian and statements regarding the third quarter and fiscal year 2025 financial guidance, our expected growth and accelerating growth due to, among other things, asymptomatic TAVR approval; global adoption of, and differentiated features of, our devices; progress of the EVOQUE commercial launch; feedback on SAPIEN M3; our ability to deliver significant value to patients, healthcare ecosystem and shareholders; expansion of evidence, approvals, clinical trial outcomes and impacts; patient outcomes; the highlights in the Guidance and Outlook section and the information in the Outlook section. No inferences or assumptions should be made from statements of past performance, efforts, or results which may not be indicative of future performance or results. Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain, difficult to predict, and may be outside of the company's control. The company's forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement. If the company does update or correct one or more of these statements, investors and others should not conclude that the company will make additional updates or corrections. Edwards' guidance reflects the Company's current estimates of the impact from tariffs that are in effect or have been announced as of the time of this press release and assumes such tariffs remain in place for the remainder of 2025. Any modification to such tariffs, or any new tariffs, could have a material impact on the Company's future financial results and guidance. Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Factors that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements include risk and uncertainties associated with the risks detailed in the company's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2024, and its other filings with the SEC. These filings, along with important safety information about our products, may be found at Edwards, Edwards Lifesciences, the stylized E logo, EARLY TAVR, ENCIRCLE, EVOQUE, INSPIRIS, KONECT, MITRIS, PARTNER, PARTNER II, PARTNER 3, PASCAL, RESILIA, SAPIEN, SAPIEN M3, SAPIEN 3, SAPIEN 3 Ultra, TRISCEND, and TRISCEND II are trademarks of Edwards Lifesciences Corporation or its affiliates. All other trademarks are the property of their respective owners. (in millions, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net sales $ 1,532.2 $ 1,369.4 $ 2,944.9 $ 2,699.3 Cost of sales 344.4 275.5 646.0 562.4 Gross profit 1,187.8 1,093.9 2,298.9 2,136.9 Selling, general, and administrative expenses 502.0 447.5 967.7 875.9 Research and development expenses 276.2 271.8 530.8 528.5 Certain litigation expenses 15.5 8.1 26.4 17.0 Separation costs 4.2 — 8.4 — Other operating income (21.3 ) — (40.4 ) — Operating income, net 411.2 366.5 806.0 715.5 Interest income, net (37.4 ) (15.5 ) (73.9 ) (32.0 ) Loss on impairment 47.1 — 47.1 — Other non-operating expense (income), net 1.3 (2.0 ) (1.3 ) (7.7 ) Income from continuing operations before provision for income taxes 400.2 384.0 834.1 755.2 Provision for income taxes 64.3 20.0 134.6 66.3 Net income from continuing operations 335.9 364.0 $ 699.5 $ 688.9 (Loss) income from discontinued operations, net of tax (4.4 ) 1.0 (11.6 ) 27.1 Net income 331.5 365.0 687.9 716.0 Net loss attributable to noncontrolling interest (1.7 ) (1.3 ) (3.3 ) (2.2 ) Net income attributable to Edwards Lifesciences Corporation $ 333.2 $ 366.3 $ 691.2 $ 718.2 Earnings (loss) per share: Basic: Continuing operations $ 0.58 $ 0.61 $ 1.20 $ 1.15 Discontinued operations $ (0.01 ) $ — $ (0.02 ) $ 0.04 Basic earnings per share $ 0.57 $ 0.61 $ 1.18 $ 1.19 Diluted: Continuing operations $ 0.57 $ 0.61 $ 1.20 $ 1.15 Discontinued operations $ (0.01 ) $ — $ (0.02 ) $ 0.04 Diluted earnings per share $ 0.56 $ 0.61 $ 1.18 $ 1.19 Weighted-average common shares outstanding: Basic 587.0 602.1 586.9 601.8 Diluted 587.9 604.3 587.9 604.2 Operating statistics from continuing operations As a percentage of net sales: Gross profit 77.5 % 79.9 % 78.1 % 79.2 % Selling, general, and administrative expenses 32.8 % 32.7 % 32.9 % 32.4 % Research and development expenses 18.0 % 19.8 % 18.0 % 19.6 % Operating income 26.8 % 26.8 % 27.4 % 26.5 % Income before provision for income taxes 26.1 % 28.0 % 28.3 % 28.0 % Net income from continuing operations 21.9 % 26.6 % 23.8 % 25.5 % Effective tax rate 16.1 % 5.2 % 16.1 % 8.8 % Expand ____________________ Note: Numbers may not calculate due to rounding. Expand EDWARDS LIFESCIENCES CORPORATION Non-GAAP Financial Information To supplement the consolidated financial results prepared in accordance with Generally Accepted Accounting Principles ('GAAP'), the Company uses non-GAAP historical financial measures. Management makes adjustments to the GAAP measures for items (both charges and gains) that (a) do not reflect the core operational activities of the Company, (b) are commonly adjusted within the Company's industry to enhance comparability of the Company's financial results with those of its peer group, or (c) are inconsistent in amount or frequency between periods (albeit such items are monitored and controlled with equal diligence relative to core operations). The Company uses the terms "adjusted" and 'constant currency" when referring to non-GAAP sales from continuing operations and sales growth information, respectively, which excludes currency exchange rate fluctuations and newly acquired products. The Company uses the term 'adjusted' to also exclude certain litigation expenses, amortization of intangible assets, loss on impairment, and separation costs. Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results, and evaluating current performance. These non-GAAP financial measures are used in addition to, and in conjunction with, results presented in accordance with GAAP and reflect an additional way of viewing aspects of the Company's operations by investors that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting the Company's business and facilitate comparability to historical periods. Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to other companies and should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. A reconciliation of non-GAAP historical financial measures to the most comparable GAAP measure is provided in the tables below. Fluctuations in currency exchange rates impact the comparative results and sales growth rates of the Company's underlying business. Management believes that excluding the impact of currency exchange rate fluctuations from its sales growth provides investors a more useful comparison to historical financial results. The impact of the fluctuations has been detailed in the "Reconciliation of Sales by Product Group and Region." Guidance for sales and sales growth rates is provided on a "constant currency basis," and projections for diluted earnings per share, net income and growth, gross profit margin, and taxes are also provided on a non-GAAP basis, as adjusted, for the items identified above due to the inherent difficulty in forecasting such items without unreasonable efforts. The Company is not able to provide a reconciliation of the non-GAAP guidance to comparable GAAP measures due to the unknown effect, timing, and potential significance of special charges or gains, and management's inability to forecast charges associated with future transactions and initiatives. The items described below are adjustments to the GAAP financial results in the reconciliations that follow: Certain Litigation Expenses - The Company incurred certain litigation expenses of $10.9 million and $8.9 million in the first quarter of 2025 and 2024, respectively, and $15.5 million and $8.1 million for the second quarter of 2025 and 2024, respectively. Amortization of Intangible Assets - The Company recorded amortization expense related to developed technology and patents in the amount of $1.4 million and $0.5 million in the first quarter of 2025 and 2024, respectively, and $1.8 million and $1.2 million in the second quarter of 2025 and 2024, respectively. Separation Costs - The Company recorded expenses of $4.2 million in both the first and second quarter of 2025 related to consulting, legal, tax, and other professional advisory services related to the sale of Critical Care. Loss on Impairment - The Company recorded other-than-temporary loss on impairment of $47.1 million ($37.6 million net of tax) in the second quarter of 2025, related to the Company's determination to not exercise an option to acquire one of its cost method investments. Provision for Income Taxes - The income tax impacts of the expenses and gains discussed above are based upon the items' forecasted effect upon the Company's full year effective tax rate. Adjustments to forecasted items unrelated to the expenses and gains above, as well as impacts related to interim reporting, will have an effect on the income tax impact of these items in subsequent periods. Three Months Ended June 30, 2024 Net Sales Gross Profit Margin Operating Income, net Operating Profit Margin Net Income Diluted EPS Effective Tax Rate GAAP - Continuing Operations $ 1,369.4 79.9 % $ 366.5 26.8 % $ 364.0 $ 0.61 5.2 % Net loss attributable to noncontrolling interests — — — — 1.3 — — Total attributable to Edwards Lifesciences Corporation 1,369.4 79.9 % 366.5 26.8 % 365.3 0.61 5.2 % Non-GAAP adjustments: (A) (B) Certain litigation expenses — — 8.1 0.5 6.5 0.01 0.1 Amortization of intangible assets — 0.1 1.2 0.1 1.0 — — Prior period ongoing tax impacts — — — — 0.8 — — Adjusted $ 1,369.4 80.0 % $ 375.8 27.4 % $ 373.6 $ 0.62 5.3 % Expand Six Months Ended June 30, 2025 GAAP - Continuing Operations $ 2,944.9 78.1 % $ 806.0 27.4 % $ 699.5 $ 1.20 16.1 % Net loss attributable to noncontrolling interests — — — — 3.3 — — Total attributable to Edwards Lifesciences Corporation 2,944.9 78.1 % 806.0 27.4 % 702.8 1.20 16.1 % Non-GAAP adjustments: (A) (B) Certain litigation expenses — — 26.4 0.9 20.8 0.03 0.2 Amortization of intangible assets — 0.1 3.2 0.1 2.6 — — Separation costs — — 8.4 0.3 6.6 0.02 0.1 Loss on impairment — — — — 37.6 0.06 0.1 Adjusted $ 2,944.9 78.2 % $ 844.0 28.7 % $ 770.4 $ 1.31 16.5 % Expand Six Months Ended June 30, 2024 GAAP - Continuing Operations $ 2,699.3 79.2 % $ 715.5 26.5 % $ 688.9 $ 1.15 8.8 % Net loss attributable to noncontrolling interests — — — — 2.2 — — Total attributable to Edwards Lifesciences Corporation 2,699.3 79.2 % 715.5 26.5 % 691.1 1.15 8.8 % Non-GAAP adjustments: (A) (B) Certain litigation expenses — — 17.0 0.6 13.9 0.03 0.1 Amortization of intangible assets — — 1.7 0.1 1.4 — — Prior period ongoing tax impacts — — — 0.8 — — Adjusted $ 2,699.3 79.2 % $ 734.2 27.2 % $ 707.2 $ 1.18 8.9 % Expand ____________________ (A) See description of non-GAAP adjustments under "Non-GAAP Financial Information." (B) The tax effect on non-GAAP adjustments is calculated based upon the impact of the relevant tax jurisdictions' statutory tax rates on the Company's estimated annual effective tax rate, or discrete rate in the quarter, as applicable. The impact on the effective tax rate is reflected on each individual non-GAAP adjustment line item. Expand 2025 Adjusted 2024 Adjusted Sales by Product Group (QTD) - Continuing Operations 2Q 2025 2Q 2024 Change GAAP Growth Rate* Implantable Heart Failure Management 2Q 2025 Adjusted Sales FX Impact 2Q 2024 Adjusted Sales Constant Currency Growth Rate * Transcatheter Aortic Valve Replacement $ 1,130.9 $ 1,038.6 $ 92.3 8.9 % $ — $ 1,130.9 $ 11.3 $ 1,049.9 7.8 % Transcatheter Mitral and Tricuspid Therapies 134.5 83.0 51.5 61.9 % (1.5 ) 133.0 1.7 84.7 57.1 % Surgical Structural Heart 266.8 247.8 19.0 7.7 % — 266.8 2.4 250.2 6.8 % Total $ 1,532.2 $ 1,369.4 $ 162.8 11.9 % $ (1.5 ) $ 1,530.7 $ 15.4 $ 1,384.8 10.6 % Expand 2025 Adjusted 2024 Adjusted Sales by Product Group (YTD) - Continuing Operations YTD 2Q 2025 YTD 2Q 2024 Change GAAP Growth Rate* Implantable Heart Failure Management YTD 2Q 2025 Adjusted Sales FX Impact YTD 2Q 2024 Adjusted Sales Constant Currency Growth Rate * Transcatheter Aortic Valve Replacement $ 2,177.5 $ 2,046.5 $ 131.0 6.4 % $ — $ 2,177.5 $ (3.8 ) $ 2,042.7 6.6 % Transcatheter Mitral and Tricuspid Therapies 249.7 155.9 93.8 60.1 % (1.9 ) 247.8 (0.1 ) 155.8 59.1 % Surgical Structural Heart 517.7 496.9 20.8 4.2 % — 517.7 (2.2 ) 494.7 4.7 % Total $ 2,944.9 $ 2,699.3 $ 245.6 9.1 % $ (1.9 ) $ 2,943.0 $ (6.1 ) $ 2,693.2 9.3 % Expand 2025 Adjusted 2024 Adjusted Sales by Region (QTD) - Continuing Operations 2Q 2025 2Q 2024 Change GAAP Growth Rate* Implantable Heart Failure Management 2Q 2025 Adjusted Sales FX Impact 2Q 2024 Adjusted Sales Constant Currency Growth Rate * United States $ 889.7 $ 806.4 $ 83.3 10.3 % $ (1.5 ) $ 888.2 $ — $ 806.4 10.1 % Europe 378.2 332.2 46.0 13.8 % — 378.2 13.1 345.3 9.6 % Japan 95.3 86.5 8.8 10.2 % — 95.3 5.1 91.6 4.2 % Rest of World 169.0 144.3 24.7 17.1 % — 169.0 (2.8 ) 141.5 19.5 % Outside of the United States 642.5 563.0 79.5 14.1 % — 642.5 15.4 578.4 11.3 % Total $ 1,532.2 $ 1,369.4 $ 162.8 11.9 % $ (1.5 ) $ 1,530.7 $ 15.4 $ 1,384.8 10.6 % Expand ____________________ * Numbers may not calculate due to rounding. Expand
Business Wire
06-05-2025
- Business
- Business Wire
Edwards Lifesciences to Present at the BofA Securities 2025 Health Care Conference
IRVINE, Calif.--(BUSINESS WIRE)--Edwards Lifesciences (NYSE: EW) today announced it will participate in the BofA Securities 2025 Health Care Conference on Tuesday, May 13, 2025. Bernard Zovighian, chief executive officer, and Scott Ullem, chief financial officer, will participate in a fireside chat at 10:40 a.m. Pacific Time. A live webcast of the discussion will be available on the Edwards Lifesciences investor relations website at with an archived version accessible later the same day. About Edwards Lifesciences Edwards Lifesciences is the leading global structural heart innovation company, driven by a passion to improve patient lives. Through breakthrough technologies, world-class evidence and partnerships with clinicians and healthcare stakeholders, our employees are inspired by our patient-focused culture to deliver life-changing innovations to those who need them most. Discover more at and follow us on LinkedIn, Facebook, Instagram and YouTube. Edwards, Edwards Lifesciences, and the stylized E logo are trademarks of Edwards Lifesciences Corporation. All other trademarks are the property of their respective owners.
