Edwards Lifesciences Posts Higher 1Q Profit, Sales

   By Kimberly Chin

Edwards Lifesciences Corp. posted higher earnings in the first quarter, driven by an increase in sales as the company saw a rise in structural heart procedures during the period.

The medical device company reported earnings of $338.2 million, up from $310.6 million in the comparable period a year earlier. Per-share earnings were 54 cents, up from 49 cents a year ago. Adjusted earnings were 54 cents a share. Analysts were expecting reported earnings of 46 cents a share and adjusted earnings of 47 cents a share, according to a FactSet poll.

Net sales rose to $1.22 billion from $1.13 billion a year earlier. Analysts were looking for $1.16 billion.

"Structural heart procedures increased as we progressed through the winter months, and our sales growth this quarter was better than expected," Chief Executive Michael Mussallem said in prepared remarks.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

April 20, 2021 16:43 ET (20:43 GMT)

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