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 email@example.com
(END) Dow Jones Newswires
April 20, 2021 16:58 ET (20:58 GMT)
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