Edwards Lifesciences (EW) reported net income from continuing operations of US$ 301.4 million in the third quarter of 2026, compared with US$ 292.3 million in the same period of 2025. Earnings per share (EPS) were US$ 0.53, compared with US$ 0.50 a year earlier. The result includes an impairment charge of US$ 220.2 million related to an in-process research and development asset and fixed assets acquired in an acquisition.
Revenue totaled US$ 1,715.5 million (US$ 1.72 billion), up 10.5% from 3Q25, or 11.2% in constant currency (excludes the effect of exchange rate fluctuations). Adjusted earnings per share (non-GAAP, excludes items the company considers non-recurring) were US$ 0.80, up 19% from US$ 0.67 in 3Q25.
By area, TAVR (transcatheter aortic valve replacement) sales rose 8.0% to US$ 1.24 billion. TMTT (transcatheter mitral and tricuspid therapies) sales grew 44.0% to US$ 207 million, a figure that excludes US$ 2.9 million of implantable heart failure management revenue. In the surgical area, sales rose 2.5% to US$ 264 million.
Gross margin was 78.5% (78.7% adjusted) and operating margin was 17.4% (30.3% adjusted). Cash and equivalents totaled about US$ 3.1 billion as of September 30, 2026, and total debt was about US$ 600 million. The company repurchased about US$ 700 million in shares through the third quarter and has about US$ 1.3 billion remaining under its repurchase authorization.
For 2026, Edwards raised its total sales growth guidance to about 11.5%, from 10% to 11%. TAVR guidance moved to 9.0% to 9.5%, from 8% to 9%, and TMTT sales guidance to US$ 780 million to US$ 790 million, from US$ 760 million to US$ 780 million. Projected adjusted EPS rose to US$ 2.97 to US$ 3.05, from US$ 2.95 to US$ 3.05. For the fourth quarter, the company projects sales of US$ 1.67 billion to US$ 1.75 billion and adjusted EPS of US$ 0.61 to US$ 0.69.
