The Irvine, Calif.-based heart valve replacement pioneer posted profits of $242.3 million, or $1.14 per share, on sales of $1.09 billion for the three months ended June 30, for a -14.3% bottom-line slide on sales growth of 15.2%.
Adjusted to exclude one-time items, earnings per share were $1.38, a full nickel ahead of Wall Street, where analysts were looking for sales of $1.04 billion.
“We are pleased to report stronger-than-expected sales growth in the second quarter, which continued a long-term trend of reaching more patients with innovative therapies and creating value,” chairman & CEO Mike Mussallem said in prepared remarks. “Increased demand for TAVR therapy resulted in underlying total company sales growth of 14%, which also reflected strength in all four of our product lines across all regions.”
Edwards said it now expects to log adjusted EPS of $5.20 to $5.40, up from $5.10 to $5.35 previously, and raised the low end of its sales forecast from between $3.9 billion and $4.3 billion to between $4.0 billion and $4.3 billion.
Third-quarter adjusted EPS are pegged at $1.13 to $1.23 on sales of $1.02 billion to $1.06 billion, the company said.
EW shares, which closed up a tick at $195.46 apiece today, gained 5.6% in after-market trading to reach $206.25 each.