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Edwards Lifesciences Q2 profit climbs 13.8% YOY

Edwards Lifesciences Corp. said its adjusted net income for the second quarter amounted to $1.24 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.13 per share.

The Irvine, Calif.-based medical device-maker said its EPS rose 14.8% year over year from $1.08.

Adjusted net income totaled $264.4 million, a gain of 13.8% from $232.3 million in the year-ago period.

Net sales grew 12.1% on an annual basis to $943.7 million from $841.8 million, and research and development expenses climbed 14.7% from the prior-year period to $154.1 million from $134.4 million.

GAAP net income increased 51.9% from the prior-year period to $282.7 million, or $1.32 per share, from $186.1 million, or 86 cents per share.

In reporting results, the company said it expects adjusted EPS per share in the range of $4.60 to $4.75 for 2018, an increase from the previous guidance in the range of $4.50 to $4.70. The S&P Capital IQ consensus normalized EPS estimate for the full year is $4.63.

Edwards Lifesciences expects total sales for the third quarter to be between $900 million and $950 million, with adjusted EPS between 93 cents and $1.03. The S&P Capital IQ consensus normalized EPS estimate for the third quarter is $1.08.