NYSE$EW
Edwards Lifesciences Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Edwards Lifesciences' second quarter performance reflected strong contributions from TMTT, offset by lower-than-expected growth in TAVR.
Edwards Lifesciences reported a 7% sales growth in Q2, driven by a strong performance in Transcatheter Mitral and Tricuspid Therapies (TMTT) with 75% growth, which was offset by lower-than-expected growth in Transcatheter Aortic Valve Replacement (TAVR). The adjusted EPS was $0.70. The company expects full-year 2024 sales growth of 8 to 10%.
- Q2 sales grew 7%; constant currency sales grew 8%.
- Q2 TAVR sales grew 5%; constant currency sales grew 6%.
- Q2 TMTT sales grew 75%; increasing contribution to Edwards' growth.
- Q2 EPS of $0.61; adjusted EPS of $0.70.
Headline financials
Revenue & EPS history
Edwards Lifesciences · Revenue · Quarterly
$1.39B
Revenue by segment
Edwards Lifesciences · $1.26B total across 3 segments · Q3 2023
- Transcatheter Aortic Valve Replacement$961M+11.4%76.3%
- Surgical Structural Heart$247M+12.2%19.6%
- Transcatheter Mitral & Tricuspid$52.4M+76.4%4.2%
Forward guidance
The company anticipates second half TAVR sales growth similar to the first half year-over-year growth rate, or 5 to 7% full-year growth versus previous guidance of 8 to 10%. For TMTT, based on first half momentum, the company is increasing full-year sales guidance to the higher end of the previous $320 to $340 million range. The company expects Q3 sales of $1.56 to $1.64 billion and EPS in Q3 of $0.67 to $0.71.
Tailwinds
- Full-year 2024 Edwards sales growth of 8 to 10%.
- TMTT guidance increased to the higher end of $320 to $340 million.
- Confident in full-year Surgical sales growth of 6 to 8%.
- Q3 sales of $1.56 to $1.64 billion.
- EPS in Q3 of $0.67 to $0.71.
Headwinds
- Lowering TAVR guidance to 5 to 7% from 8 to 10%.
- Some regional pressures in TAVR.
- Adjusted gross profit margin was 77.1%, compared to 77.7% in the same period last year.
- Adjusted selling, general and administrative expenses in the second quarter were $509 million, or 31.2% of sales, compared to $469 million in the prior year.
- Adjusted research and development expenses in the second quarter were $303 million, or 18.6% of sales, compared to $270 million in the prior year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-1.3%
Avg return
Earnings day
-2.1%
Avg return
5 days after
-1.5%
Avg return
30 days after
50%
35 / 70 earnings
Positive
+11.6%
Q1 2017
Best reaction
-31.4%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.1% | +1.9% | +7.7% | |
| Q4 2025 | +3.0% | -1.5% | +6.2% | |
| Q3 2025 | -0.8% | -0.8% | +3.8% | |
| Q2 2025 | +0.1% | +4.1% | -0.8% | |
| Q1 2025 | +6.6% | +8.3% | +6.4% | |
| Q4 2024 | +6.9% | +7.4% | -2.3% | |
| Q3 2024 | -1.7% | -1.8% | -0.2% | |
| Q2 2024 | -31.4% | -26.8% | -18.6% | |
| Q1 2024 | -2.5% | -4.4% | -0.7% | |
| Q4 2023 | +0.6% | -1.2% | +9.0% | |
| Q3 2023 | -10.9% | -11.5% | -3.7% | |
| Q2 2023 | -9.8% | -10.5% | -16.9% | |
| Q1 2023 | -1.2% | -0.3% | -6.6% | |
| Q4 2022 | +7.1% | +8.0% | +5.5% | |
| Q3 2022 | -18.3% | -16.3% | -12.0% | |
| Q2 2022 | -4.8% | -3.2% | -13.6% | |
| Q1 2022 | -8.3% | -11.7% | -17.7% | |
| Q4 2021 | -6.9% | -0.3% | +3.2% | |
| Q3 2021 | -0.4% | -1.2% | -6.4% | |
| Q2 2021 | +2.0% | +4.2% | +5.8% | |
| Q1 2021 | +7.5% | +10.0% | +4.8% | |
| Q4 2020 | -3.7% | -5.3% | -4.0% | |
| Q3 2020 | -6.0% | -7.5% | +0.1% | |
| Q2 2020 | +0.3% | -0.6% | +1.0% | |
| Q1 2020 | +3.2% | -1.6% | +1.1% | |
| Q4 2019 | -5.5% | -2.7% | -12.0% | |
| Q3 2019 | +3.0% | +6.8% | +8.4% | |
| Q2 2019 | +10.8% | +9.7% | +11.7% | |
| Q1 2019 | -0.3% | -1.2% | -4.7% | |
| Q4 2018 | -0.0% | +0.8% | +2.9% | |
| Q3 2018 | -6.0% | -6.1% | -0.7% | |
| Q2 2018 | -8.5% | -8.2% | -8.6% | |
| Q1 2018 | -5.6% | -5.8% | +0.3% | |
| Q4 2017 | +4.1% | +0.4% | +6.3% | |
| Q3 2017 | -9.4% | -10.7% | -4.6% | |
| Q2 2017 | +0.4% | -0.6% | -3.5% | |
| Q1 2017 | +11.6% | +12.0% | +16.5% | |
| Q4 2016 | -6.8% | -6.6% | -3.9% | |
| Q3 2016 | -19.5% | -17.8% | -25.8% | |
| Q2 2016 | +7.4% | +7.5% | +7.7% | |
| Q1 2016 | +0.9% | — | — | |
| Q4 2015 | +5.7% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | +0.7% | — | — | |
| Q1 2015 | -1.8% | — | — | |
| Q4 2014 | +7.5% | — | — | |
| Q3 2014 | +10.9% | — | — | |
| Q2 2014 | +9.4% | — | — | |
| Q1 2014 | +0.7% | — | — | |
| Q4 2013 | +1.0% | — | — | |
| Q3 2013 | -9.3% | — | — | |
| Q2 2013 | +2.3% | — | — | |
| Q1 2013 | -22.8% | — | — | |
| Q4 2012 | -7.1% | — | — | |
| Q3 2012 | -0.3% | — | — | |
| Q2 2012 | +4.5% | — | — | |
| Q4 2011 | -1.6% | — | — | |
| Q1 2012 | +11.6% | — | — | |
| Q3 2011 | -5.9% | — | — | |
| Q2 2011 | -3.5% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q1 2010 | +0.5% | — | — | |
| Q1 2011 | -2.1% | — | — | |
| Q4 2008 | -1.7% | — | — | |
| Q1 2009 | -1.7% | — | — | |
| Q3 2010 | +1.3% | — | — | |
| Q3 2009 | +1.3% | — | — | |
| Q2 2009 | +1.3% | — | — | |
| Q2 2010 | +1.3% | — | — | |
| Q4 2009 | +1.3% | — | — |
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