=Edwards Lifesciences (EW) reported earnings on Tue 25 Apr 2017 (a/h)

Edwards Lifesciences beats by $0.12, beats on revs; guides Q2 EPS in-line, revs in-line; raises FY17 EPS guidance, narrows revs outlook :

• Reports Q1 (Mar) earnings of $0.94 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus of $0.82; revenues rose 26.7% year/year to $883.5 mln vs the $776.51 mln Capital IQ Consensus.
• On an underlying basis sales grew 19.1 percent over the first quarter last year. Underlying sales growth excludes the impact of the Germany stocking sales, as customers in Germany elected to purchase additional inventory of the SAPIEN 3 valve in anticipation of a potential supply interruption resulting from recent intellectual property litigation.
• For the quarter, the company's gross profit margin was 75.6 percent, compared to 74.1 percent in the same period last year. This increase was driven primarily by a more profitable product mix, led by growing sales of transcatheter valves, partially offset by the impact from foreign exchange.
• Co issues in-line guidance for Q2, sees EPS of $0.82-0.92, excluding non-recurring items, vs. $0.87 Capital IQ Consensus Estimate; sees Q2 revs of $810-850 mln vs. $825.83 mln Capital IQ Consensus Estimate.
• Co updates guidance for FY17, sees EPS of $3.43-3.55 (Prior $3.30-3.45) vs. $3.41 Capital IQ Consensus Estimate; sees FY17 revs of $3.2-3.4 bln (Prior $3.0-3.4 bln) vs. $3.26 bln Capital IQ Consensus Estimate.