Edwards Lifesciences Q3 FY2026: sales up 10.5%, outlook raised
Edwards beat its own sales guide and raised the full-year outlook, and the adjusted numbers were clean: sales of $1.72 billion grew 10.5% and adjusted EPS of $0.80 grew 19%. GAAP EPS of $0.53 carries a $220.2 million impairment charge that says nothing about the valve business. Read revenue, EPS and guidance first, then the cash and inventory lines.
1 · Expected vs. Actual
Free preview belowAdjusted EPS of $0.80 rose 19% from $0.67 and adjusted operating margin jumped to 30.3% from 27.5%. GAAP EPS was only $0.53 because a $220.2 million impairment of an acquired in-process research asset ran through operating income, partly offset by a $12.7 million net litigation insurance recovery. The gap between $0.53 and $0.80 is accounting noise, not operating deterioration.
Sales of $1.72 billion grew 10.5% as reported and 11.2% in constant currency, ahead of the roughly $1.71 billion midpoint the company had guided to. TAVR did the heavy lifting at $1.24 billion, up 8.0%, while TMTT grew 44.0% to $209.5 million on the reported line. Surgical was the laggard at $264.4 million, up just 2.5%.
Full-year sales growth guidance rose to approximately 11.5% from 10% to 11%, and adjusted EPS guidance to $2.97 to $3.05 from $2.95 to $3.05. TAVR growth guidance moved to 9.0% to 9.5% and TMTT revenue to $780 to $790 million. For the fourth quarter, the company projects sales of $1.67 to $1.75 billion and adjusted EPS of $0.61 to $0.69.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-04
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