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Jun 30, 2024
Edwards Lifesciences Q2 2024 Earnings Report
Edwards Lifesciences' second quarter performance reflected strong contributions from TMTT, offset by lower-than-expected growth in TAVR.
Key Takeaways
Edwards Lifesciences reported a 7% sales growth in Q2, driven by a strong performance in Transcatheter Mitral and Tricuspid Therapies (TMTT) with 75% growth, which was offset by lower-than-expected growth in Transcatheter Aortic Valve Replacement (TAVR). The adjusted EPS was $0.70. The company expects full-year 2024 sales growth of 8 to 10%.
Q2 sales grew 7%; constant currency sales grew 8%.
Q2 TAVR sales grew 5%; constant currency sales grew 6%.
Q2 TMTT sales grew 75%; increasing contribution to Edwards' growth.
Q2 EPS of $0.61; adjusted EPS of $0.70.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company anticipates second half TAVR sales growth similar to the first half year-over-year growth rate, or 5 to 7% full-year growth versus previous guidance of 8 to 10%. For TMTT, based on first half momentum, the company is increasing full-year sales guidance to the higher end of the previous $320 to $340 million range. The company expects Q3 sales of $1.56 to $1.64 billion and EPS in Q3 of $0.67 to $0.71.
Positive Outlook
- Full-year 2024 Edwards sales growth of 8 to 10%.
- TMTT guidance increased to the higher end of $320 to $340 million.
- Confident in full-year Surgical sales growth of 6 to 8%.
- Q3 sales of $1.56 to $1.64 billion.
- EPS in Q3 of $0.67 to $0.71.
Challenges Ahead
- Lowering TAVR guidance to 5 to 7% from 8 to 10%.
- Some regional pressures in TAVR.
- Adjusted gross profit margin was 77.1%, compared to 77.7% in the same period last year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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