Edwards Lifesciences Reports 9% Sales Increase

By Bobby Samwell • Friday, October 25 06:20 • Permanent Link

Edwards Lifesciences Corporation has reported a 9% increase in sales from continuing operations for the third quarter ended September 30, 2024. The company's transcatheter aortic valve replacement (TAVR) sales grew by 6%, with U.S. sales reflecting a year-over-year growth rate in line with the global TAVR constant currency growth rate. In Europe, the introduction of the SAPIEN 3 Ultra Resilia valve and the receipt of CE mark approval for the Alterra system for congenital heart patients were highlighted as significant achievements.

Furthermore, the transcatheter mitral and tricuspid therapies (TMTT) sales grew by 73%, with third-quarter sales reaching $91 million. The company emphasized the progress of the Pascal and Evoque systems, with the completion of enrollment in the CLASP IITR trial for Pascal tricuspid and the first implants in the journey pivotal trial with the Edwards J-Valve AR system.

In the surgical structural heart segment, sales from continuing operations increased by 5% on a constant currency basis, driven by strong global adoption of Edwards' premium surgical technologies, specifically the inspiris, mitris, and konect devices.

The adjusted gross profit margin for the quarter was 80.7%, representing an improvement over the same period last year. The company also provided an outlook, maintaining its full-year sales growth guidance of 8 to 10%.

Additionally, Edwards Lifesciences completed the sale of critical care in the third quarter, resulting in a significant one-time gain. The company also repurchased $1.0 billion of stock during the quarter, with approximately $1.4 billion remaining under its current share repurchase authorization.

These financial results and strategic developments reflect Edwards Lifesciences' continued focus on structural heart innovation and its commitment to delivering life-changing innovations to patients in need. Following these announcements, the company's shares moved -0.4%, and are now trading at a price of $70.35. If you want to know more, read the company's complete 8-K report here.

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