EW · Edwards Lifesciences Q2 FY2026 earnings call record财报电话会记录

“Our updated 2026 sales guidance is 10%-11% for the company, with strong earnings leverage and operating margin expansion.”

“After delivering a strong 2025, we are on track to deliver on our increased company guidance of 10%-11% this year and remain confident in our longer-term outlook.”

“In summary, we are pleased with our TAVR performance, and given our Q2 result, we are increasing our full-year sales growth guidance to 8%-9% from 7%-9%.”

“During the quarter, result from the ENCIRCLE Mitral Annular Calcification of MAC registry were presented at New York Valves: The Structural Heart Summit demonstrating low 30-day mortality, virtual elimination of regurgitation, and impactful quality-of-life improvements.”

“Total sales of $1.74 billion grew 12.5% year-over-year, reflecting strength across all product groups and regions.”

“As a reminder, our second half performance in 2025 set a higher bar for the second half of 2026, particularly in the third quarter when we experienced unusually low impact from seasonality last year.”

“For the second quarter, our adjusted gross profit margin was 77.6%, flat compared to the same period last year, driven by foreign exchange headwinds offset by lower manufacturing expenses.”

“Foreign exchange reduced our second quarter gross profit margin by 70 basis points compared to the prior year.”

“Our tax rate is also impacted by changes to California law permanently limiting the usage of R&D credits.”

“Foreign exchange rate changes in the second quarter increased reported sales by approximately $15 million, or 110 basis points versus the prior year, which was $6 million higher than our expectation.”

“We will continue to be active in returning capital to shareholders through opportunistic share repurchases.”

“All of this together, in my mind, it is what give us confidence about achieving long-term, about 10% EPS leverage and operating margin improvement, 50-100 points.”