Edwards Lifesciences Q3 2020 Earnings Report
Key Takeaways
Edwards Lifesciences reported a 4% increase in sales to $1.1 billion for the third quarter of 2020. Diluted earnings per share were $0.52, and adjusted earnings per share grew 9% to $0.51. The company is raising the bottom end of full-year 2020 adjusted earnings per share guidance to $1.85 to $1.95.
Sales of $1.1 billion grew 4%; similar underlying growth expected in the fourth quarter
TAVR global sales grew 6%
EPS was $0.52; adjusted EPS grew 9% to $0.51
2020 adjusted EPS guidance increased to $1.85 to $1.95 from $1.75 to $1.95
Edwards Lifesciences
Edwards Lifesciences
Edwards Lifesciences Revenue by Segment
Edwards Lifesciences Revenue by Geographic Location
Forward Guidance
The company anticipates year-over-year underlying sales growth similar to the third quarter. The company is raising the bottom end of full-year 2020 adjusted earnings per share guidance to $1.85 to $1.95, versus previous guidance of $1.75 to $1.95. Looking ahead to 2021, the company anticipates a return to double-digit TAVR growth and aspires to double 2020 TMTT sales.
Positive Outlook
- Year-over-year underlying sales growth similar to the third quarter in Q4 2020
- Raising the bottom end of full-year 2020 adjusted earnings per share guidance to $1.85 to $1.95
- Anticipates a return to double-digit TAVR growth in 2021
- Aspiration to double 2020 TMTT sales
- Optimistic about continuing to deliver innovations to patients around the world
Challenges Ahead
- Ongoing COVID pandemic challenges
- Negative impact from foreign currency fluctuations
- Incremental costs associated with responding to COVID
- Potential delay in initial pivotal clinical trial results by a couple of quarters
- Impact of delayed elective procedures
Revenue & Expenses
Visualization of income flow from segment revenue to net income