Edwards Lifesciences Lifts 2026 Constant-Currency Sales-Growth Outlook to About 11.5%

After third-quarter sales rose 11.2% on a constant-currency basis, Edwards Lifesciences raised its 2026 sales-growth outlook, also measured on a constant-currency basis, to about 11.5% from 10% to 11%.

Sales for the quarter ended Sept. 30 totaled $1.7155 billion. The reported increase was 10.5%, while growth on a constant-currency comparison was 11.2%. Edwards released the third-quarter figures on Nov. 4.

The revised adjusted earnings-per-share (EPS) outlook, a non-GAAP measure, is $2.97 to $3.05 per diluted share, compared with the former $2.95 to $3.05 range. The change raises the lower end by 2 cents, while the upper end is unchanged. At the midpoint, the new guidance implies 18% growth over 2025. Edwards' adjusted EPS for the quarter was $0.80, up 19% year over year; diluted GAAP EPS was $0.53. Non-GAAP adjustments for the quarter included a $220.2 million impairment of acquired in-process research and development and fixed assets.

Sales from transcatheter aortic valve replacement (TAVR) were $1.2416 billion. Reported growth reached 8%, rising to 8.8% after currency adjustments. For 2026, Edwards now expects TAVR sales growth of 9% to 9.5% on a constant-currency basis, compared with its previous 8% to 9% range. Greater attention to TAVR treatment and evidence supporting proactive management of severe aortic stenosis helped drive procedure growth.

Adjusted sales from transcatheter mitral and tricuspid therapies (TMTT) were $207 million, with growth of 44% in reported dollars and 45.6% after currency adjustments. The 2026 TMTT sales forecast increased to $780 million to $790 million from $760 million to $780 million. Worldwide volumes for mitral and tricuspid procedures maintained double-digit gains.

CEO Bernard Zovighian said, “We delivered strong third-quarter growth of 11.2% which exceeded expectations.”

For the fourth quarter, Edwards projects sales of $1.67 billion to $1.75 billion and adjusted EPS of $0.61 to $0.69 per diluted share. The company expects higher procedure volumes to account for most of the growth, with a smaller contribution from market-share gains.