HighGravityDataEdwards Lifesciences — Jul 23, 2026 release
Fiscal 2026 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001099800-26-000038
Showing in the filing
R&D expense as a percentage of sales
“approximately 17%”
Period
FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 16
Total company sales growth (constant currency) for FY2026
“10% to 11%”
TAVR sales growth (constant currency) for FY2026
“8% to 9%”
TMTT product group sales for FY2026
“$760 to $780 million”
Adjusted EPS for FY2026
“$2.95 to $3.05”
Adjusted EPS growth at midpoint for FY2026
“17% at midpoint”
Total company sales growth target, longer term for the long term
“approximately 10% total company sales growth, on average”
Gross profit margin for FY2026
“at the lower end of its full-year 78% to 79%”
Gross profit margin for FY2026
“lower end of its full-year 78% to 79% gross margin guidance”
R&D expense as a percentage of sales for FY2026
“approximately 17%”
Operating profit margin for FY2026
“high end of the company’s original 28% to 29% guidance range”
Constant currency operating margin expansion for FY2026
“approximately 150 basis points”
Effective tax rate, excluding special items for FY2026
“at the high end of its previous range of 16% to 19%”
Total company sales for FY2026
“$6.6 billion to $6.9 billion”
TAVR sales for FY2026
“$4.75 billion to $5.0 billion”
Total sales for Q3 FY2026
“between $1.63 and $1.71 billion”
Adjusted EPS for Q3 FY2026
“$0.71 to $0.77”
Exhibit 99.1 · the passage around this item
… earlier in the release
This decrease in R&D as a percentage of sales and increase in total expense reflects Edwards’ growing revenue and strategic prioritization of investments in its expanding structural heart portfolio. The company continues to expect R&D expense as a percentage of sales to be approximately 17% in 2026. Operating profit margin in the second quarter was 29.5%, or 30.0% adjusted. Adjusted EPS was $0.78 and benefited from better-than-expected topline performance and planned phasing of strategic investments in R&D and SG&A throughout the year. In 2026, Edwards continues to expect full-year operating profit margin to be at the high end of the company’s original 28% to 29% guidance range, resulting in approximately 150 basis points of constant currency operating margin expansion for the full year. Edwards now expects its 2026 effective tax rate, excluding special items, to be at the high end of its previous range of 16% to 19%. This reflects an expectation that side-by-side safe-harbor taxation legislation related to Pillar Two does not come into effect before the end of the year. The company’s tax rate is also impacted by changes to California law restricting the usage of R&D credits. Cash and cash equivalents were approximately $2.9 billion as of June 30, 2026. Total debt was approximately $600 million. Edwards has approximately $1.5 billion remaining under its share repurchase authorization. Outlook Based on the company’s second quarter performance, Edwards is increasing it
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.