EW - Edwards Lifesciences down 11% after Q3 misses revised 2022 EPS guidance

• Edwards Lifesciences ( NYSE: EW ) is down 11% in after-hours trading after the company's Q3 2022 top and bottom line results missed and its full-year adjusted EPS guidance range was amended to below the consensus estimate.
• Edwards ( EW ) now projects 2022 adjusted EPS guidance of $2.40 to $2.50 (consensus $2.52). In addition, it says that full-year revenue is expected at the low end of previous guidance of $5.35B to $5.55B (consensus $5.47B).
• Net income in the quarter of $343.5M was a ~1% increase from the year-ago period ($0.55 vs. $0.54 diluted EPS).
• Revenue of ~$1.3B was a ~1% year-over-year increase.
• Edwards ( EW ) said that while transcatheter aortic valve replacement (TAVR) sales increased just 1% year-over-year to $862M due to hospital staffing shortages in the US and COVID-19 in Japan, it still believes the global TAVR opportunity will reach $10B by 2028.
• The company ended the quarter with ~$1.2B, a ~45% increase from Dec. 31, 2021.
• Seeking Alpha's Quant Rating sees Edwards ( EW ) as a hold.

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