Edwards Lifesciences Increases 2016 Adj. EPS Guidance - Quick Facts

(RTTNews) - Edwards Lifesciences Corp. (EW) announced, for the full year 2016, the company now expects sales to be at the high end of its previous $2.7 to $3.0 billion range based on its strong first half results, an anticipated third quarter approval of intermediate risk in the U.S., and the momentum of therapy adoption globally. With the increase in sales guidance, the company now expects adjusted earnings per share to be between $2.78 and $2.88. In April, the company projected its full year earnings to be in the range of $2.67 - $2.77. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.76 on revenue of $2.89 billion. Analysts' estimates typically exclude special items.

For the third quarter of 2016, at current foreign exchange rates, the company projects sales to be between $720 and $760 million, and adjusted earnings per share to be between $0.62 and $0.68. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.64 on revenue of $708.11 million.

Sales for the quarter ended June 30, 2016 were $759.3 million, up 23.1 percent. On an underlying basis, sales grew 21.1 percent over the second quarter last year. For the second quarter, the company reported Transcatheter Heart Valve Therapy sales of $418.6 million, a 48.7 percent growth rate over the second quarter last year, or 45.1 percent on an underlying basis. Net income for the quarter ended June 30, 2016 was $126.6 million, or $0.58 per share.