Edwards Lifesciences Raises FY21 Profit Outlook

By Kimberly Chin

Edwards Lifesciences Inc. raised its full-year earnings outlook on an adjusted basis, as the company expects demand for heart procedures to pick up.

The medical device company projects adjusted earnings around $2.07 to $2.27 a share for fiscal 2021, up from its previous forecast of $2 to $2.20 a share. Analysts polled by FactSet were projecting per-share adjusted earnings of $2.12 for the year.

For the current quarter, Edwards expects sales between $1.25 billion and $1.33 billion and adjusted earnings of 54 cents to 60 cents a share. Analysts on average targeted second-quarter sales of $1.24 billion and adjusted earnings of 52 cents a share.

"Although we anticipate the effects of the pandemic will impact structural heart patients in the near term, we have continued confidence in our positive 2021 outlook," Chief Executive Michael Mussallem said in prepared remarks.

Shares of Edwards rose 4.2% after hours to $93.40.

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

(END) Dow Jones Newswires

April 20, 2021 16:58 ET (20:58 GMT)

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