Edwards Lifesciences (NYSE:EW) today posted third quarter earnings that topped earnings per share consensus on Wall Street but missed on revenue expectations.
The Irvine, Calif.-based company posted profits of $225.9 million, or $1.08 per share, on sales of $906.6 million for the three months ended September 30, seeing the bottom line grow 32.8% while sales grew 10.4% when compared to the same period during the previous year.
Adjusted to exclude one-time items, earnings per share were 1.07¢, just ahead of the $1.02 consensus on The Street, where analysts were looking for sales of $928.2 million, which the company missed.
“We are pleased to report strong third quarter performance that delivered 11 percent sales growth on an underlying basis, consistent with our expectations, driven by our impressive portfolio of innovative technologies. Our results to-date keep us on track for another year of strong financial performance while we also aggressively invest in our future growth. Looking forward, based on recent learnings, we have increased confidence that our innovative lifesaving therapies can benefit many more patients whose structural heart disease is deadly and undertreated today,” chair & CEO Michael Mussallem said in a press release.
Earlier this month, Edwards said that it launched a U.S.-based pivotal trial of its self-expanding Centera transcatheter aortic valve exploring its use in treating severe symptomatic aortic stenosis in intermediate risk patients.
