Edwards Q2 sales up 13.6% to $1.74B; raises full-year sales and TAVR guidance

Edwards Lifesciences Corp

Q2 sales $1.74B (+13.6% YoY); adjusted EPS $0.78; gross margin 77.5%.
TAVR sales $1.26B (+11.3% YoY); TMTT sales $195.9M (+47.3% YoY); Surgical $284M (+6.5% YoY).
Raised FY constant currency sales growth guidance to 10-11% (from 9-11%); TAVR growth to 8-9% (from 7-9%).
Reaffirmed adjusted EPS guidance $2.95-$3.05; Q3 guidance: sales $1.63-$1.71B, adj EPS $0.71-$0.77.
Cash $2.9B, debt $600M; $1.5B remaining share repurchase authorization.

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