- Edwards Lifesciences Corp EW reported Q4 Adjusted EPS of $0.6425% Y/Y and higher than consensus at $0.61.
- The company reported fourth-quarter revenue of $1.35 billion, up 1% or 7% at constant exchange rates, beating the consensus of $1.33 billion.
- While TAVR sales were flat year over year, Edwards reported 1% growth for its structural heart business. The company attributed this bump to the introduction of Resilia technologies and the Mitris surgical mitral valve.
- Outlook: Edwards Lifesciences reiterated its FY23 revenue guidance in December 2022 to grow between 9% and 12% to $5.6 billion to $6 billion.
- The company continues to expect full-year 2023 adjusted earnings per share to be in the range of $2.45 to $2.60.
- For Q1 FY23, Edwards is forecasting revenue of $1.37 billion to $1.45 billion and adjusted earnings per share of $0.58 to $0.64.
- “We anticipate significant growth and advancement in 2023, with incremental improvements in healthcare workforces and contributions from all major geographies,” said Michael Mussallem, Chairman and CEO.
- Analyst take: William Blair writes that easing headwinds in the second half of 2023 and a steady stream of commercial catalysts may allow for more robust growth rates and help boost stock momentum. The analyst rates the stock as Outperforming.
- Price promotion: EW shares closed up 0.84% at $76.70 on Tuesday.
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