NYSE$EW
Edwards Lifesciences Corp · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Edwards Lifesciences reported third quarter results, demonstrating growth in constant currency sales and adjusted EPS, despite challenges from hospital staffing shortages and COVID headwinds.
Edwards Lifesciences reported Q3 sales of $1.32 billion, a 1% increase, or 7% on a constant currency basis. Adjusted EPS increased by 13% to $0.61. The company received U.S. FDA and CE Mark approval for PASCAL Precision and U.S. FDA approval for the SAPIEN 3 Ultra RESILIA valve.
- Q3 sales of $1.32 billion grew 1 percent; constant currency sales grew 7 percent
- Q3 TAVR sales grew 1 percent; constant currency sales grew 6 percent
- Q3 EPS of $0.55; adjusted EPS increased 13 percent to $0.61
- Received U.S. FDA and CE Mark approval for PASCAL Precision and Received U.S. FDA approval for SAPIEN 3 Ultra RESILIA valve
Headline financials
Revenue & EPS history
Edwards Lifesciences · Revenue · Quarterly
$1.32B
Revenue by segment
Edwards Lifesciences · $1.11B total across 3 segments · Q3 2022
- Transcatheter Aortic Valve Replacement$862M+0.5%77.6%
- Surgical Structural Heart$220M+1.2%19.8%
- Transcatheter Mitral & Tricuspid$29.7M+35.0%2.7%
Forward guidance
The company anticipates that the U.S. hospital staffing challenge and strong U.S. dollar are likely to persist and now expects total company sales for 2022 at the low end of its previous range of $5.35 to $5.55 billion. Edwards now expects full year adjusted EPS of $2.40 to $2.50, up from 2021 adjusted EPS of $2.22.
Tailwinds
- For the fourth quarter of 2022, Edwards projects year-over-year and sequential sales growth in constant currency.
- The company expects reported sales and adjusted EPS to be similar to the third quarter.
- Company is pleased with year-to-date performance, which includes strong progress on strategic milestones.
- Company believes hospital staffing constraints will gradually improve
- Company is committed to aggressively investing in focused innovation strategy
Headwinds
- U.S. hospital staffing challenge and strong U.S. dollar are likely to persist
- Total company sales for 2022 expected at the low end of its previous range of $5.35 to $5.55 billion.
- TAVR sales are also expected at the low end of the previous range of $3.5 to $3.7 billion.
- For TMTT, Edwards expects reported fourth quarter sales to be similar to the third quarter as the weaker Euro impacts sales.
- The company had previously guided to the bottom end of its $2.50 to $2.65 range for adjusted EPS.
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 Q3 2022
-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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