Edwards Lifesciences Cuts FY22 Outlook; Shares Tank 10%

(RTTNews) - Shares of Edwards Lifesciences Corporation (EW) tanked over 10% on Thursday's extended session after the company lowered its full-year financial outlook.

Looking forward, the company said it anticipates the U.S. hospital staffing challenge and strong U.S. dollar to persist. It now expects total company sales for 2022 at the low end of its previous range of $5.35 to $5.55 billion. Edwards now expects full year adjusted earnings per share of $2.40 to $2.50, compared to prior estimate of $2.50 to $2.65 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $2.51 per share and revenues of $5.47 billion for the year.

EW closed Thursday's trading at $86.30, down $0.46 or 0.53%, on the NYSE. The stock further slipped $9.05 or 10.49% in the after-hours trading.