Edwards Lifesciences Increases 2019 Sales, EPS Guidance - Quick Facts

(RTTNews) - Edwards Lifesciences Corp.(EW) reported strong performance in the first half of 2019. The increased demand for TAVR therapy resulted in stronger than expected sales growth in the second quarter. The company increased its fiscal 2019 earnings and sales guidance.

For 2019, the company now expects total sales to be between $4.0 billion and $4.3 billion, with underlying sales growth around the top end of its previous nine to 12 percent range. Adjusted earnings per share guidance is now in a range of $5.20 to $5.40, up from prior guidance range of $5.10 to $5.35. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.29 on revenue of $4.16 billion. Analysts' estimates typically exclude special items.

For the third quarter 2019, the company projects total sales to be between $1.02 billion and $1.06 billion, and adjusted EPS of $1.13 to $1.23. Analysts expect the company to report profit per share of $1.25 on revenue of $1.02 billion.

For the second-quarter, adjusted earnings per share grew 11 percent, higher than expected, to $1.38. On average, 22 analysts expected the company to report profit per share of $1.33 for the quarter.

Second-quarter sales were $1.1 billion, up 15 percent over the prior year, or 14 percent on an underlying basis. Analysts expected revenue of $1.04 billion for the quarter.

Shares of Edwards Lifesciences were up more than 7% after hours.