Edwards Lifesciences raises 2026 sales forecast as Q3 profit tops estimates

Edwards Lifesciences (EW) said on Nov. 4 that its third-quarter adjusted earnings per share were 80 cents, topping the 76 cents consensus estimate. Revenue of $1.72 billion was in line with the $1.73 billion estimate, and the company raised its 2026 sales growth forecast.

Shares rose 2.5% in after-hours trading as of 5:23 p.m. ET, from a regular-session close of $99.38.

Here's how the company did:

• Adjusted EPS: 80 cents vs. 67 cents a year earlier, 76 cents expected
• GAAP diluted EPS: 53 cents vs. 50 cents a year earlier
• Revenue: $1.72 billion vs. $1.55 billion a year earlier, $1.73 billion expected

Sales rose 10.5% from a year earlier, or 11.2% in constant currency, the company said in its press release.

The company sells structural heart products in three groups: transcatheter aortic valve replacement, transcatheter mitral and tricuspid therapies, and surgical. Revenue has risen in each of the last three quarters, from $1.55 billion in the third quarter of 2025 to $1.74 billion in the second quarter of 2026, according to its SEC filings.

Bernard Zovighian, CEO of Edwards Lifesciences, said, “We delivered strong third-quarter growth of 11.2% which exceeded expectations, with broad-based performance across our businesses and regions, giving us the confidence to raise our full-year outlook.”

2026 guidance

The company raised its full-year sales growth forecast to about 11.5% from the 10% to 11% range it gave on July 23. It raised its TAVR sales growth forecast to 9% to 9.5%, from 8% to 9%.

TMTT sales guidance rose to $780 million to $790 million, from $760 million to $780 million. Adjusted EPS guidance moved to $2.97 to $3.05, from $2.95 to $3.05 previously.

For the fourth quarter, the company projects total sales of $1.67 billion to $1.75 billion and adjusted EPS of 61 cents to 69 cents. The company is also reaffirming mid-single-digit growth guidance in Surgical.

Segment results

TAVR sales were $1.24 billion, up 8.0% from a year earlier, or 8.8% in constant currency. Growth rates were similar in the U.S. and outside the U.S.

TMTT sales were $207 million, up 44.0% from a year earlier, or 45.6% in constant currency.

Surgical sales were $264 million, up 2.5% from a year earlier, or 2.8% in constant currency.

Costs and charges

The company recorded an impairment of intangible and long-lived assets of $220.2 million in the quarter. The charge relates to an in-process research and development asset and fixed assets acquired in an acquisition.

Selling, general and administrative expenses were $561 million, or 32.7% of sales. Research and development expenses were $281 million, or 16.4% of sales.

Gross profit margin was 78.5%, or 78.7% on an adjusted basis.

Cash and capital returns

Cash and cash equivalents were approximately $3.1 billion as of Sept. 30, and total debt was approximately $600 million.

The company has performed share repurchases of approximately $700 million through the third quarter and has approximately $1.3 billion remaining under its share repurchase authorization.