Edwards Lifesciences Swings to 2Q Profit, Points to Recovery Signs
July 29 2021 - 4:58PM
Dow Jones News
By Maria Armental
Edwards Lifesciences Corp. swung to a profit in the latest
quarter with sales up 49% from last year, when the pandemic caused
a drop in procedures.
The medical-device company reported a second-quarter profit of
$489.5 million compared with a year-earlier loss of $121.9 million.
On a per-share basis, profit was 78 cents, or 64 cents as
adjusted.
Net sales rose to $1.38 billion from $925 million a year
earlier.
The company had projected an adjusted profit of 54 cents to 60
cents a share and $1.25 billion to $1.33 billion in revenue, while
analysts surveyed by FactSet expected 54 cents a share, or 55 cents
as adjusted, on $1.28 billion in revenue.
"We were encouraged by the clear signs of recovery during the
second quarter," Chief Executive Michael A. Mussallem said in a
statement, adding: "Vaccine adoption in key regions has contributed
to an increased number of patients seeking and, most importantly,
receiving treatment."
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
July 29, 2021 16:45 ET (20:45 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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