Edwards Lifesciences (NYSE:EW) reported second-quarter results that included significant sales growth and increased guidance.
Shares of EW rose 7% to $89.65 apiece in after-hours trading today.
The Irvine, California-based heart valve maker reported profits of $241.9 million. That equals 78¢ per share on sales of $1.74 billion for the three months ended June 30, 2026.
Edwards recorded a 27.4% bottom-line slide on a sales increase of 13.6%.
Adjusted to exclude one-time items, earnings per share came in at 78¢. That landed 4¢ ahead of expectations on Wall Street. Sales also topped forecasts as experts projected $1.7 billion in revenue.
TAVR sales reached $1.3 billion, marking 11.3% growth year-over-year. Edwards attributed growth to sustained clinical momentum and evidence supporting proactive disease management for aortic stenosis (AS). It also noted the differentiation of its Sapien TAVR platform.
Transcatheter mitral and tricuspid therapies (TMTT) sales of $195.9 million increased 47.3%. The company pointed to both its Evoque and Pascal systems as drivers there.
Notably, within the quarter, Edwards also picked up FDA clearance for a left atrial appendage (LAA) clip, expanding its portfolio in Surgical.
Edwards increased its total sales growth guidance at the low end, rising from 9%-11% to 10%-11%. It also increased TAVR growth by 1% to 8%-9%. The company reiterated its adjusted EPS guidance for between $2.95 and $3.05.
Bernard Zovighian, Edwards CEO, said:
“We delivered stronger-than-expected second quarter [constant currency] sales growth of 12.5%. As Edwards continues to invest in new structural heart therapies and expand adoption globally, our results increasingly reflect the strength of our comprehensive portfolio and agile execution, with growth supported by therapies across TAVR, mitral, tricuspid and surgical, as well as meaningful contributions from each of the regions. Today, our company profile has evolved to include multiple strategic platforms across multiple regions that will support durable growth, which gives us confidence in our target of approximately 10% total company sales growth, on average, over the longer term. Our strategic focus coupled with our commitment to early innovation enables us to deliver meaningful impact for patients worldwide.”
The analysts’ take
BTIG analysts Marie Thibault, Sam Eiber and Alexandra Pang maintain a “Buy” rating for Edwards following the earnings report.
They note that some investors view an outlook on TAVR sales growth for next quarter as “relatively low,” they believe it accounts for tough one-year comparisons and some conservatism. The analysts see Edwards’ momentum as “sustainable in light of the strong Q2 results.”
Additionally, the analysts expect focus to shift toward data from the PROGRESS trial, set for release at TCT this fall.
“We expect trial results, if positive, and subsequent indication expansion/payor coverage, along with the finalized TAVR National Coverage Determination (NCD) in September, can spur the next leg of TAVR growth and support the 10%+ total company growth outlook,” the analysts wrote. “We continue to like [Edwards].”
