Edwards Lifesciences (NYSE: EW) shares ticked up after hours today on third-quarter results that topped the consensus forecast.
The company also announced that CFO Scott Ullem decided to depart the company by mid-2026. Edwards plans to initiate a selection process for a new CFO while the planned transition enables continuity and a smooth transfer of responsibilities. Following the appointment of a new CFO, Ullem plans to continue in an advisory role.
Shares of EW rose nearly 2% to $85.01 apiece in post-market trading today.
The Irvine, California-based heart valve maker reported profits of $291.1 million. That equals 50¢ per share on sales of $1.55 billion for the three months ended Sept. 30, 2025.
Edwards recorded a 90.5% bottom-line slide on a sales increase of 14.7%.
Adjusted to exclude one-time items, earnings per share came in at 67¢. That landed 8¢ ahead of expectations on Wall Street. Sales topped estimates, too, as experts forecast $1.5 billion in revenue.
The company attributed sales performance to the continued growth of its transcatheter aortic valve replacement (TAVR) offerings. TAVR sales increased 12.4% in the third quarter. Meanwhile, transcatheter mitral and tricuspid therapies (TMTT) delivered $145.2 million in sales, driven by the Pascal and Evoque devices.
Edwards increased its sales guidance to the high end of the previous projection for 9%-10% growth. It increased TAVR sales guidance from 6%-7% to 7%-8%. Adjusted EPS guidance went up from $2.45-$2.55 to $2.56-$2.62.
Commentary from Edwards officials and analysts
Edwards CEO Bernard Zovighian said the company’s strong results reflect the performance of its comprehensive portfolio across multiple therapeutic areas, plus its established presence around the world.
“Based on our better-than-expected performance, reflecting the patient-focused contributions of our talented employees, we are raising our 2025 sales and EPS guidance,” Zovighian said. “Edwards remains committed to being the partner of choice for heart teams by providing a complete portfolio of therapies for the many patients in need, built on the foundation of our unique strategy and an unprecedented body of evidence. Our focus on structural heart, including extending into heart failure and aortic regurgitation, represents a tremendous opportunity with the potential to drive differentiated long-term value.”
BTIG analysts Marie Thibault, Sam Eiber and Alexandra Pang maintained a “Buy” rating for Edwards. The analysts call the business “steady” while highlighting the increased guidance as well as expected growth drivers ahead. They also paid tribute to the departing CFO.
“We are sorry to see Mr. Ullem go but believe that with [Edwards’] TAVR business on steadier footing and some reassurance on the long-term outlook for the company, it is an appropriate time for a transition,” the analysts wrote. “We continue to like [Edwards] for its healthier TAVR segment, potential positive catalysts likes the asymptomatic rollout and possible TAVR NCD update, as well as the ramp of the TMTT portfolio.”
