Edwards Lifesciences (NYSE: EW) reported second-quarter results this evening that beat the consensus forecast on Wall Street — and raised its 2021 guidance in the process.
The Irvine, Calif.–based cardio device company reported earnings of $489.5 million, or 78¢ per share, off sales of $1.376 billion – a turnaround from the loss of –$121.9 million, or –20¢ per share, off sales of $925 million that Edwards Lifesciences saw in Q2 2020.
Adjusted to exclude one-time items, earnings per share were 64¢, 9¢ ahead of The Street, where analysts were looking EPS of 55¢ on sales of $1.28 billion.
“We were encouraged by the clear signs of recovery during the second quarter,” Edwards Lifesciences CEO Michael A. Mussallem said in a news release.
“Vaccine adoption in key regions has contributed to an increased number of patients seeking and, most importantly, receiving treatment,” Mussallem said. “This quarter, we were pleased that more than 30,000 patients were treated globally with Sapien valves, an indication that more patients are benefiting from our life-changing technologies than ever before.”
Edwards Lifesciences raised its 2021 adjusted EPS guidance to the high end of the previous $2.07 to $2.27 range. In addition, it boosted its annual sales guidance to $5.2–5.4 billion from $4.9–5.3 billion.
Investors reacted by sending EW shares up slightly in after-hours trading.