EW - Edwards Lifesciences non-GAAP EPS of $0.62 beats by $0.01 revenue of $1.46B beats by $70M

2023-04-26 18:05:41 ET

• Edwards Lifesciences press release ( NYSE: EW ): Q1 Non-GAAP EPS of $0.62 beats by $0.01.
• Revenue of $1.46B (+9.0% Y/Y) beats by $70M .

Outlook

• Overall, based on the strong start to the year, the company is raising its full year sales guidance for all product groups. Full year 2023 sales are expected to grow 10 to 12 percent, compared to the previous guidance of 9 to 12 percent. For total Edwards, the company now expects full year 2023 sales to be at the high end of its $5.6 to $6.0 billion vs $5.85B  consensus. The company now expects TAVR sales of $3.8 to $4.0 billion; TMTT, $170 to $200 million; Critical Care, $870 to $940 million; and Surgical Structural Heart, at the high end of its $870 to $970 million range.  Additionally, the company is lifting its full year 2023 adjusted earnings per share guidance to $2.48 to $2.60, compared to its previous guidance range of $2.45 to $2.60 vs $2.51 consensus.
• For the second quarter of 2023, the company projects total sales to be between $1.48 and $1.56 billion vs $1.46B consensus, and adjusted EPS of $0.62 to $0.68 vs $0.63 consensus.

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