Edwards Lifesciences (NYSE:EW) reported its Q1 results, with both EPS of $0.62 and revenues of $1.46 billion (up 9% year-over-year) coming in above the consensus estimates of $0.61 and $1.39B, respectively. Despite the beat, shares fell more than 2% after-hours.
Transcatheter Aortic Valve Replacement (TAVR) sales were $948 million in Q1, representing a growth of 8% year-over-year (or 11% on a constant currency basis).
"This encouraging start gives us increased confidence in our full-year outlook. We believe that 2023 will be an important year for Edwards as we expect a return to higher sales growth and pursue meaningful progress on our innovations to improve care for many more patients," said CEO Michael Mussallem.
For Q2/23, the company expects EPS of $0.62-$0.68, compared to the consensus of $0.63, and revenue of $1.48-1.56B, compared to the consensus of $1.46B.
For the full year, the company expects EPS of $2.48-$2.60, compared to the consensus of $2.52, and revenue of $5.6-6B, compared to the consensus of $5.85B.