EW - Edwards Lifesciences stock down ~6% after hours on Q2 results miss slashed FY guidance

• Shares of Edwards Lifesciences ( NYSE: EW ) lost 5.9% to $101 after hours, as the heart-focused medical device maker reported Q2 earnings that missed expectations and cut its FY 2022 guidance.
• EW posted Q2 non-GAAP EPS of $0.63 which missed estimates by $0.01 . Its Q2 revenue of $1.37B also missed by $30M .
• The company now expects FY 2022 sales of $5.35B to $5.55B, vs a previously guided range of $5.5B to $6B. The consensus revenue estimate is $5.71B.
• FY 2022 adj. EPS is now expected to come in at the bottom end of its previously provided forecast of $2.50 to $2.65. The consensus EPS estimate is $2.56.
• EW in its earnings report said it is lowering its FY guidance primarily due to more pronounced foreign exchange headwinds and a slower than expected improvement in pandemic-related hospital staffing.
• Edwards ( EW ) also said Q3 revenue was projected to be $1.30B to $1.37B, falling short of the consensus revenue estimate of $1.44B. Q3 adj. EPS is seen to be $0.58 to $0.66, vs. a consensus revenue estimate of $0.65.
• EW stock has fallen 17.2% YTD.

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