Edwards Lifesciences — Feb 11, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001099800-25-000003
Showing in the filing
Adjusted EPS
“$2.40 - $2.50”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 12
Sales growth (constant currency) for FY2025
“8% - 10%”
Adjusted EPS for FY2025
“$2.40 - $2.50”
Structural heart therapies contributions for FY2026
“Increasing contributions from an expanding set of structural heart therapies”
Adjusted gross profit margin for FY2025
“between 78% and 79%”
Operational SG&A spending for FY2025
“approximately flat at these levels”
SG&A ratio for the long term
“lower SG&A ratio over time”
R&D spending for FY2025
“maintain R&D spending at these levels”
R&D as a percentage of sales for the long term
“moderate R&D as a percentage of sales over time”
Adjusted operating margins for FY2025
“27 to 28%”
Operating profit margin for the long term
“annual operating profit margin expansion thereafter”
Total sales for Q1 FY2025
“between $1.35 and $1.43 billion”
Adjusted EPS for Q1 FY2025
“$0.58 to $0.64”
Exhibit 99.1 · the passage around this item
… earlier in the release
Highlights and Outlook • Q4 sales grew 9% to $1.39 billion 1 , better than expected, with strength across all product groups • Q4 TAVR sales grew 6%; constant currency 2 sales grew 5% • Q4 TMTT sales grew 88% to $105 million with increasing contribution to Edwards' growth • Q4 EPS of $0.58 1 ; adjusted 2 EPS of $0.59, driven by strong top-line performance • Presented results of two practice-changing FDA clinical trials, EARLY TAVR and TRISCEND II • Reiterating 2025 constant currency sales growth of 8% - 10%; adjusted EPS of $2.40 - $2.50 • Continuing to expect mid-year asymptomatic TAVR indication approval in the U.S. • Increasing contributions from an expanding set of structural heart therapies in 2026 and beyond “It was a year of meaningful progress for Edwards in 2024, as our 16,000 employees advanced life-saving structural heart innovations for patients around the world. We exited the year in a strong position with three important growth drivers: TAVR, Mitral and Tricuspid, and two emerging opportunities in Structural Heart Failure and Aortic Regurgitation,” said Bernard Zovighian, Edwards’ CEO. “In 2025, we expect to build on many catalysts across our businesses that will contribute to growth. Going forward, the investments and actions we’ve taken to advance our strategy will position us for continuing strong performance. I am optimistic about the tremendous opportunities in front of us to transform structural heart patient care.” Transcatheter Aortic Valve Replacement (TAVR) In the fourth quarter, the company reported TAVR sales of $1.04 billion, which grew 6% versus the prior year, or 5% on a constant currency basis. Full-year 2024 global sales of $4.1 billion increased 6% year-over-year. U.S. and OUS sales
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.