Edwards Lifesciences Corporation has reported its first-quarter profits surpassing last year's results, thus exceeding Wall Street predictions.
This year, the company's earnings amounted to $351.9 million, or $0.58 per share, in comparison to $340.5 million, or $0.56 per share, in the same quarter of the previous year.
Upon removing particular one-off items, Edwards Lifesciences disclosed adjusted earnings of $397.3 million, or $0.66 per share for this quarter. This notably beats the average analyst expectation of a profit of $0.64 per share, as noted in reports compiled by Thomson Reuters. Notably, these analysts' estimates often remove certain unusual items from their calculations.
Edwards Lifesciences' revenue for this quarter climbed 9.6% to $1.60 billion, up from $1.46 billion in the same quarter last year.
To provide a brief financial snapshot, the company's GAAP earnings for the first quarter are as follows:
- Earnings: $351.9 million, a rise from last year's $340.5 million
- Earnings per share (EPS): $0.58, an increase from $0.56 in the previous year
- Revenue: $1.60 billion, up from $1.46 billion last year.
Looking ahead, the corporation anticipates the following financial results for the next quarter:
- EPS: $0.67 - $0.71
- Revenue: $1.62 - $1.70 billion
For the full year, the company expects an EPS guidance of $2.70 - $2.80.
