Edwards Lifesciences reports double-digit sales growth, raises 2025 guidance

Edwards Lifesciences reports double-digit growth: ©Tadamichi - stock.adobe.com

Edwards Lifesciences (NYSE: EW) reported strong second-quarter results, highlighted by double-digit sales growth and momentum across all product lines, prompting the company to raise its full-year guidance.

Sales for the quarter ended June 30 rose 11.9% year-over-year to $1.53 billion, or 10.6% on an adjusted basis. Adjusted earnings per share came in at $0.67, with reported EPS at $0.572. The company credited broad-based strength, particularly in transcatheter aortic valve replacement (TAVR) and transcatheter mitral and tricuspid therapies (TMTT).

“We are pleased to report strong second quarter results that delivered double-digit sales growth,” said Bernard Zovighian, CEO of Edwards Lifesciences. “Based on our better-than-expected first half performance and the many catalysts across our portfolio, we are confident in our full-year outlook and are raising our sales and EPS guidance.”

Edwards raised its 2025 sales growth forecast to a range of 9% to 10%, up from its prior 8% to 10% estimate. It also increased TAVR growth guidance to 6% to 7% and said it now expects full-year adjusted EPS to reach the high end of its original range of $2.40 to $2.50.

TAVR and TMTT show strength

Second-quarter TAVR sales reached $1.1 billion, an 8.9% increase from the prior year, or 7.8% in constant currency. The company noted steady growth both inside and outside the U.S., driven by growing adoption of its SAPIEN valve platform.

“In the U.S., the clinical conversations around the EARLY TAVR trial data are bringing a renewed focus to streamlining the management of patients with severe aortic stenosis,” the company said. Outside the U.S., Edwards benefited from the exit of a competitor in Europe and improving growth in Japan.

TMTT sales climbed 61.9% year-over-year to $134.5 million, bolstered by strong demand for the company’s PASCAL and EVOQUE systems. The newly approved SAPIEN M3 mitral valve replacement system also contributed, receiving CE Mark approval during the quarter.

“With PASCAL, EVOQUE and the recent CE Mark of SAPIEN M3, Edwards’ vision for TMTT has developed into a growth portfolio of groundbreaking transcatheter repair and replacement technologies,” the company said.

Surgical and financials

Surgical heart valve sales rose 7.7% to $267 million, supported by global demand for the company’s RESILIA tissue-based valves. KONECT, Edwards’ aortic valved conduit, received CE Mark approval in Europe.

Gross margin for the quarter was 77.5%, slightly down from 79.9% a year ago, due to higher manufacturing costs and currency effects. Operating profit margin was 26.8%, or 28.2% on an adjusted basis.

Edwards ended the quarter with approximately $3 billion in cash and $600 million in total debt. Third-quarter guidance calls for sales between $1.46 and $1.54 billion, with adjusted EPS projected between $0.54 and $0.60.

“Edwards is increasingly distinguished by our balanced portfolio of leading therapies across aortic, mitral and tricuspid which will position us for leadership for many years to come as we help even more patients around the world,” Zovighian said.