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Sep 30, 2022
Edwards Lifesciences Q3 2022 Earnings Report
Edwards Lifesciences reported third quarter results, demonstrating growth in constant currency sales and adjusted EPS, despite challenges from hospital staffing shortages and COVID headwinds.
Key Takeaways
Edwards Lifesciences reported Q3 sales of $1.32 billion, a 1% increase, or 7% on a constant currency basis. Adjusted EPS increased by 13% to $0.61. The company received U.S. FDA and CE Mark approval for PASCAL Precision and U.S. FDA approval for the SAPIEN 3 Ultra RESILIA valve.
Q3 sales of $1.32 billion grew 1 percent; constant currency sales grew 7 percent
Q3 TAVR sales grew 1 percent; constant currency sales grew 6 percent
Q3 EPS of $0.55; adjusted EPS increased 13 percent to $0.61
Received U.S. FDA and CE Mark approval for PASCAL Precision and Received U.S. FDA approval for SAPIEN 3 Ultra RESILIA valve
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company anticipates that the U.S. hospital staffing challenge and strong U.S. dollar are likely to persist and now expects total company sales for 2022 at the low end of its previous range of $5.35 to $5.55 billion. Edwards now expects full year adjusted EPS of $2.40 to $2.50, up from 2021 adjusted EPS of $2.22.
Positive Outlook
- For the fourth quarter of 2022, Edwards projects year-over-year and sequential sales growth in constant currency.
- The company expects reported sales and adjusted EPS to be similar to the third quarter.
- Company is pleased with year-to-date performance, which includes strong progress on strategic milestones.
- Company believes hospital staffing constraints will gradually improve
- Company is committed to aggressively investing in focused innovation strategy
Challenges Ahead
- U.S. hospital staffing challenge and strong U.S. dollar are likely to persist
- Total company sales for 2022 expected at the low end of its previous range of $5.35 to $5.55 billion.
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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