Edwards Lifesciences — Feb 10, 2026 release

Some of this strategic spending was delayed from previous quarters in the year. Research and development expenses in the fourth quarter were $268 million, or 17.1% of sales, compared to 19.6% in the prior year. The company continues to expect its full-year 2026 R&D as a percentage of sales to be approximately 17%. Operating profit margin in the fourth quarter of 9.6%, or 23.7% adjusted, was in line with the company’s previous guidance of mid-20% for the quarter. Adjusted EPS was $0.58, which also included a higher-than-expected tax rate for the quarter. In 2026, Edwards expects full-year operating profit margin at the high end of the original 28% to 29% guidance range. Cash and cash equivalents were approximately $3.0 billion as of Dec. 31, 2025. Total debt was approximately $600 million. Outlook Edwards has increased confidence in meeting its 2026 sales growth rate guidance of 8 to 10% and EPS guidance of $2.90 to $3.05. For the first quarter of 2026, the company projects total sales to be between $1.55 and $1.63 billion and adjusted EPS of $0.70 to $0.76. 3 About Edwards Lifesciences      Edwards Lifesciences is the leading global structural heart innovation company, driven by a passion to improve patient lives. Through breakthrough technologies, world-class evidence and partnerships with clinicians and healthcare stakeholders, our employees are inspired by our patient-focused culture to deliver life-changing innovations to those who need them most. Discover more at www.edwards.com and f