Edwards Lifesciences reported a strong first quarter with robust sales growth driven by its TAVR and TMTT segments, leading to an increase in full-year financial guidance. The company is strategically focused on patient needs and innovation in structural heart disease, supported by positive clinical trial data and expanding market access.
Q1 sales grew 16.7% to $1.65 billion, with constant currency sales growing 12.7%.
positiveTAVR sales grew 14.4% to $1.20 billion (11.0% constant currency), with global competitive position increasing slightly.
positiveTMTT sales of $173 million grew at a higher rate than the estimated double-digit global procedure growth.
positiveFull-year 2026 sales growth guidance raised to 9% to 11% (from 8% to 10%) and TAVR sales growth guidance to 7% to 9% (from 6% to 8%).
positiveFull-year 2026 adjusted EPS guidance midpoint raised to $2.95-$3.05 (from $2.90-$3.05).
positiveCompleted a $500 million Accelerated Share Repurchase agreement.
positiveCertain litigation expenses were $37.1 million in Q1 2026, up from $10.9 million in Q1 2025.
attentionLoss on impairment of $123.6 million in Q1 2026, impacting net income.
attentionGross profit margin decreased to 78.0% (adjusted 78.2%) from 78.7% in the prior year, driven by a weakening dollar and additional manufacturing expenses.
attentionSelling, general, and administrative expenses increased to 31.7% of sales from 33.0% in the prior year, partly due to a higher translation of OUS expense base from the weakening dollar.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
Transcatheter Aortic Valve Replacement (TAVR) | N/A | — | — | — | +11.0% |
Transcatheter Mitral and Tricuspid Therapies (TMTT) | N/A | — | — | — | +42.8% |
Surgical | N/A | — | — | — | +5.9% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Building on a year in 2025 marked by solid financial performance and strategic progress, we delivered another strong quarter in Q1, achieving 12.7% sales growth, which reflects the impact and durability of our focused strategy.
We remain dedicated to solving large, urgent and complex patient needs and pursuing unique opportunities to innovate and lead in structural heart disease.
Based on our first quarter performance, we are raising our financial guidance for 2026. We continue to pursue additional meaningful growth opportunities across our portfolio, and our financial strength and strategic clarity give us confidence in the future.
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