Edwards Lifesciences Updates FY17 Guidance - Quick Facts

(RTTNews) - Edwards Lifesciences Corp. (EW) announced, for full year 2017, the company is narrowing sales guidance to $3.2 to $3.4 billion, from $3.0 to $3.4 billion. The company is also raising its estimate for 2017 adjusted earnings per share to $3.43 to $3.55, from $3.30 to $3.45.

For the second quarter of 2017, the company projects sales, excluding the impact of Germany stocking sales, to be between $810 and $850 million, and adjusted earnings per share of $0.82 to $0.92.

First-quarter adjusted earnings per share grew 32 percent to $0.94. Sales for the quarter ended March 31, 2017 were $883.5 million, up 26.7 percent, which included $61.8 million of Germany stocking sales. On an underlying basis sales grew 19.1 percent over the first quarter last year.

Michael Mussallem, CEO: "Strong total sales growth of 19 percent on an underlying basis was above our expectations and reflected strength in all three of our product lines across all regions, with particular strength in transcatheter heart valves in the U.S. We're also pleased with our progress on key R&D milestones as we pursue innovative solutions for the patients we serve."