Edwards Lifesciences (NYSE: EW) reported Q2 EPS of $0.34, $0.17 better than the analyst estimate of $0.17. Revenue for the quarter came in at $925 million versus the consensus estimate of $797.53 million.

GUIDANCE:

Edwards Lifesciences sees FY2020 EPS of $1.75-$1.95, versus the consensus of $1.63. Edwards Lifesciences sees FY2020 revenue of $4-4.5 billion, versus the consensus of $4.23 billion.

Edwards Lifesciences sees Q3 2020 revenue of $1-1.2 billion, versus the consensus of $1.04 billion.

• The company's guidance assumes that a progressive recovery is likely during the second half of the year. The company's sales grew 19% in the second of half of 2019, so year-over-year comparisons will remain challenging. Even so, Edwards expects sales in the third quarter to return to 2019 levels, and for sales to start growing again in the fourth quarter.
• Overall, 2020 sales guidance for Edwards continues to be $4.0 to $4.5 billion. For the third quarter of 2020, the company projects total sales to be between $1.0 and $1.2 billion. The company now expects full-year 2020 adjusted earnings per share of $1.75 to $1.95 on a post-split basis, versus previous guidance of $1.58 to $1.75, or on a pre-split basis, $4.75 to $5.25.
• "Due to the unpredictability of COVID-19, including additional waves and isolated flare ups and the associated impact on the healthcare system, we are preparing to deal with the ups and downs of this pandemic for the foreseeable future. Because of the severe condition of the patients we serve and our strong patient-focused team, I remain confident in our ability to continue to successfully deliver during this global crisis," said Mussallem.

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