Edwards Lifesciences (EW) Tops Q1 EPS by 6c, Revenues Beat; Offers FY21 EPS Outlook

April 20, 2021 4:17 PM EDT

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Edwards Lifesciences (NYSE: EW) reported Q1 EPS of $0.54, $0.06 better than the analyst estimate of $0.48. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.16 billion.

First Quarter Highlights and 2021 Outlook

  • Sales grew 8 percent to $1.2 billion; underlying1 sales grew 5 percent
  • TAVR sales grew 7 percent; underlying sales grew 4 percent
  • EPS of $0.54 exceeded expectations
  • Received approval for a U.S. pivotal trial for TAVR in moderate AS patients
  • Received TAVR approval in Japan for patients at low surgical risk
  • First patients were treated with EVOQUE Eos transcatheter mitral replacement system
  • Initiated TRISCEND II U.S. pivotal trial for transcatheter tricuspid replacement
  • Completed Accelerated Share Repurchase
  • Continued confidence in sales outlook; Adjusted EPS guidance of $2.07 to $2.27 increased $0.07

"We recognize that there are many people still struggling with the pandemic around the world, yet as we anniversary the start of the pandemic, I'm encouraged by the signs of recovery," said Michael A. Mussallem, chairman and CEO. "Structural heart procedures increased as we progressed through the winter months, and our sales growth this quarter was better-than-expected. Although we anticipate the effects of the pandemic will impact structural heart patients in the near term, we have continued confidence in our positive 2021 outlook."

GUIDANCE:

Edwards Lifesciences sees FY2021 EPS of $2.07-$2.27, versus the consensus of $2.13.

For earnings history and earnings-related data on Edwards Lifesciences (EW) click here.



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