Edwards Lifesciences Beats Revenue Estimates at $1.72 Billion; Raises Outlook

Edwards Lifesciences (NYSE: EW) reported third-quarter revenue of $1.72 billion, above the $1.68 billion analysts expected, and adjusted EPS of $0.80 against the $0.74 consensus estimate, in an 8-K filed Wednesday, Nov. 4, 2026. Sales rose 10.5% from a year earlier, or 11.2% on a constant currency basis. GAAP EPS was $0.53, compared with $0.50 in the third quarter of 2025.

Product groups

Transcatheter aortic valve replacement (TAVR) sales were $1.24 billion, up 8.0% from a year earlier, or 8.8% in constant currency. The company said growth rates were similar in the U.S. and outside the U.S.

Transcatheter mitral and tricuspid therapies (TMTT) sales were $207 million, up 44.0%, or 45.6% in constant currency. Surgical sales were $264 million, up 2.5%.

Guidance

Edwards raised its full-year 2026 total sales growth guidance to approximately 11.5%, from 10% to 11%. It raised TAVR sales growth guidance to 9.0% to 9.5%, from 8% to 9%, and TMTT sales guidance to $780 million to $790 million, from $760 million to $780 million.

Adjusted EPS guidance was raised to $2.97 to $3.05, from $2.95 to $3.05. Analysts had expected full-year EPS of $3.00 on revenue of $6.76 billion.

For the fourth quarter, the company projects total sales of $1.67 billion to $1.75 billion and adjusted EPS of $0.61 to $0.69. The consensus estimate for the quarter was $1.70 billion in revenue and $0.71 in EPS.

Capital and margins

Adjusted gross profit margin was 78.7%, and adjusted operating profit margin was 30.3%. The company said it has repurchased about $700 million of shares through the third quarter and has about $1.3 billion remaining under its authorization. Cash and cash equivalents were about $3.1 billion at Sept. 30, and total debt was about $600 million.

The company said it expects its full-year gross margin to be at the lower end of its 78% to 79% guidance range, reflecting currency effects through its hedging program.