Edwards Lifesciences Misses Q2 Revenue Estimates on Weak Demand for Heart Devices

Reuters07-25

Edwards Lifesciences missed second-quarter revenue estimates on Thursday, hurt by lower-than-expected demand for its artificial heart valves.

Shares of the California-based company were down 19% at $70 after the bell.

Edwards reported revenue of $1.39 billion, falling short of analysts' estimates of $1.65 billion, according to LSEG data.

Investor expectations for medical device makers have been high in recent quarters, driven by sustained demand for surgical procedures, especially among older adults.

Separately, Edwards, which sold its critical care products unit to Becton Dickinson last month, said it will acquire heart device makers JenaValve Technology and Endotronix to expand its structural heart portfolio.

The deals, valued at approximately $1.2 billion, further solidify Edwards' transition to becoming a pure-play structural heart company, with its lead product being the transcatheter aortic valve replacement (TAVR) device, which is used for minimally invasive heart surgeries.

Sales from the TAVR unit rose 5% to $1.0 billion in the quarter ended June 30, compared to estimates of $1.06 billion.

However, the company revised the sales forecast for TAVR devices for the second half of the year to a 5% to 7% increase, down from the previous guidance of 8% to 10%.

The company forecast third-quarter sales to be between $1.56 to $1.64 billion, assuming critical care is included for the entire third quarter.

On an adjusted basis, the company reported a second-quarter profit of 70 cents per share, narrowly beating analysts' estimates of 69 cents per share.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2454562851?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-07-25 08:05","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2454562851","market":"us","top_or_hot":-1,"title":"Edwards Lifesciences Misses Q2 Revenue Estimates on Weak Demand for Heart Devices","media":"Reuters","content":"<html><head></head><body><p>Edwards Lifesciences missed second-quarter revenue estimates on Thursday, hurt by lower-than-expected demand for its artificial heart valves.</p><p>Shares of the California-based company were down 19% at $70 after the bell.</p><p></p><p><img src=\"https://community-static.tradeup.com/news/94c26dcbea081aa59a4aae7d1206c047\" alt=\"\"/></p><p>Edwards reported revenue of $1.39 billion, falling short of analysts&#39; estimates of $1.65 billion, according to LSEG data.</p><p>Investor expectations for medical device makers have been high in recent quarters, driven by sustained demand for surgical procedures, especially among older adults.</p><p>Separately, Edwards, which sold its critical care products unit to Becton Dickinson last month, said it will acquire heart device makers JenaValve Technology and Endotronix to expand its structural heart portfolio.</p><p>The deals, valued at approximately $1.2 billion, further solidify Edwards&#39; transition to becoming a pure-play structural heart company, with its lead product being the transcatheter aortic valve replacement (TAVR) device, which is used for minimally invasive heart surgeries.</p><p>Sales from the TAVR unit rose 5% to $1.0 billion in the quarter ended June 30, compared to estimates of $1.06 billion.</p><p>However, the company revised the sales forecast for TAVR devices for the second half of the year to a 5% to 7% increase, down from the previous guidance of 8% to 10%.</p><p>The company forecast third-quarter sales to be between $1.56 to $1.64 billion, assuming critical care is included for the entire third quarter.</p><p>On an adjusted basis, the company reported a second-quarter profit of 70 cents per share, narrowly beating analysts&#39; estimates of 69 cents per share.</p><p></p><p></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Edwards Lifesciences Misses Q2 Revenue Estimates on Weak Demand for Heart Devices</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEdwards Lifesciences Misses Q2 Revenue Estimates on Weak Demand for Heart Devices\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-25 08:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Edwards Lifesciences missed second-quarter revenue estimates on Thursday, hurt by lower-than-expected demand for its artificial heart valves.Shares of the California-based company were down 19% at $70...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EW","symbol_name":"爱德华兹","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2454562851","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2454562851","pubTimestamp":1721865943,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"July 24 (Reuters) - Edwards Lifesciences    missed second-quarter revenue estimates on Thursday, hurt by lower-than-expected demand for its artificial heart valves.   Shares of the California-based co","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"EW":"爱德华兹","BDX":"碧迪医疗"},"translate_title":"由于心脏设备需求疲软，爱德华兹生命科学公司第二季度收入未达预期","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EW":1,"BDX":0.9},"content_text":"Edwards Lifesciences missed second-quarter revenue estimates on Thursday, hurt by lower-than-expected demand for its artificial heart valves.Shares of the California-based company were down 19% at $70 after the bell.Edwards reported revenue of $1.39 billion, falling short of analysts' estimates of $1.65 billion, according to LSEG data.Investor expectations for medical device makers have been high in recent quarters, driven by sustained demand for surgical procedures, especially among older adults.Separately, Edwards, which sold its critical care products unit to Becton Dickinson last month, said it will acquire heart device makers JenaValve Technology and Endotronix to expand its structural heart portfolio.The deals, valued at approximately $1.2 billion, further solidify Edwards' transition to becoming a pure-play structural heart company, with its lead product being the transcatheter aortic valve replacement (TAVR) device, which is used for minimally invasive heart surgeries.Sales from the TAVR unit rose 5% to $1.0 billion in the quarter ended June 30, compared to estimates of $1.06 billion.However, the company revised the sales forecast for TAVR devices for the second half of the year to a 5% to 7% increase, down from the previous guidance of 8% to 10%.The company forecast third-quarter sales to be between $1.56 to $1.64 billion, assuming critical care is included for the entire third quarter.On an adjusted basis, the company reported a second-quarter profit of 70 cents per share, narrowly beating analysts' estimates of 69 cents per share.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"Business Data,movement","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2454562851"}