Q1 2026 Edwards Lifesciences Corp Earnings Call Transcript
Key Points
- Edwards Lifesciences Corp (EW) reported a strong first quarter with a 12.7% sales growth, exceeding expectations.
- The company raised its full-year 2026 sales growth guidance to 9% to 11% and adjusted EPS guidance to $2.95 to $3.05.
- TAVR global sales increased by 11% year-over-year, driven by proactive disease management and strong clinical evidence.
- TMTT sales grew by approximately 42% year-over-year, with strong adoption of repair and replacement technologies.
- The company maintains a strong balance sheet with $2.4 billion in cash and cash equivalents, and completed a $500 million share repurchase.
- The adjusted gross profit margin slightly decreased to 78.2% from 78.7% in the same period last year due to currency fluctuations and manufacturing expenses.
- There is uncertainty regarding the final outcome of the CMS National Coverage Determination (NCD) process for TAVR.
- The company faces competitive pressures in the TAVR market, although it has seen some share gains due to a competitor's exit in Europe.
- Research and development expenses increased in total, reflecting strategic prioritization, but decreased as a percentage of sales.
- The company anticipates variability in sales growth rates over time based on the timing of catalysts, which could impact future performance.
Greetings and welcome to the Edwards Lifesciences first-quarter 2026 results. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce Gerianne Sarte, Senior Vice President, Investor Relations. Thank you. You may begin.
Good afternoon, and thank you for joining us. With me on today's call is our CEO, Bernard Zovighian; and our CFO, Scott Ullem. Also joining us for the Q&A portion of the call will be Dan Lippis, our Global Leader of TAVR; and Daveen Chopra, who has global responsibility for TMTT, Surgical, and IHFM.
After the close of regular trading, Edwards Lifesciences released first-quarter 2026 financial results. During today's call, management will discuss the results included in the press release and accompanying financial schedules and then use the remaining time for Q&A.
Please note that management will be making forward-looking statements that are based on estimates, assumptions,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
