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Monday, Mar 18, 2024
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Edwards Beats on Profit, EPS Down in Q2

Irvine-based Edwards Lifesciences Corp. reported financial results today that exceeded analysts’ forecasts in some areas though earnings per share declined.

The heart valve maker reported an adjusted profit of $124.3 million, exceeding the $114.4 million that analysts had been expecting.

Edwards reported net income of $112.7 million.

Second-quarter income came in at $616.8 million, up 18% from 2014’s second quarter and ahead of Wall Street’s forecast of $603.1 million.

The device maker also released a forecast for the current quarter. It could see a profit of $101.2 million to $110 million, based on a Business Journal extrapolation.

It said it expected third-quarter revenue to come in at $580 million to $620 million.

Edwards reported results Tuesday after markets closed; its shares were down about 3% in midday trading Wednesday.

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