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Edwards Lifesciences: 2Q Earnings Snapshot

July 23, 2019

IRVINE, Calif. (AP) _ Edwards Lifesciences Corp. (EW) on Tuesday reported second-quarter net income of $242.3 million.

On a per-share basis, the Irvine, California-based company said it had profit of $1.14. Earnings, adjusted for non-recurring costs, came to $1.38 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The medical device maker posted revenue of $1.09 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.05 billion.

For the current quarter ending in October, Edwards Lifesciences expects its per-share earnings to range from $1.13 to $1.23.

The company said it expects revenue in the range of $1.02 billion to $1.06 billion for the fiscal third quarter.

Edwards Lifesciences expects full-year earnings in the range of $5.20 to $5.40 per share, with revenue ranging from $4 billion to $4.3 billion.

Edwards Lifesciences shares have increased 28% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. In the final minutes of trading on Tuesday, shares hit $195.54, a climb of 28% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EW at https://www.zacks.com/ap/EW

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