The following is a summary of the Edwards Lifesciences Corporation (EW) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Edwards Lifesciences Corporation reported a 10% increase in Q1 sales to $1.6 billion.

• Global sales from Transcatheter Aortic Valve Replacement (TAVR) increased by 8%, crossing $1 billion for the first time.

• Transcatheter Mitral & Tricuspid Therapies (TMTT) sales grew to $73 million, a 72% rise compared to the last year.

• Surgical and Critical Care segments also reported an increase in sales of 8% and 14% respectively.

• The company increased its full-year guidance for all sectors - TAVR, TMTT, Surgical and Critical Care - due to strong Q1 results, leading to a projected sales increase of 8 to 10% in 2024.

Business Progress:

• Edwards celebrated the release of RESILIA tissue technology which is expected to aid over 0.5 million patients by the end of 2024.

• The company successfully treated a patient advancing aortic stenosis in January, marking a significant milestone.

• Edwards' EVOQUE became the first transcatheter therapy to receive FDA approval for treating tricuspid regurgitation patients.

• Edwards SAPIEN valve platform delivered promising results in two large-scale real-world studies.

• The company is working towards identifying and resolving disparities in access to healthcare across race, gender and socio-economic status.

• Edwards Lifesciences continues to invest in structural heart disease initiatives, with an aim to develop informed treatments for this group of patients.

• Despite intense competition and slight hiccups in billing days, the company raised their revenue guidance by nearly $150 million but kept their EPS guidance at a range of $2.70 to $2.80.

• Edwards is launching the S3UR device in Europe and expects it to normalize their growth.

• The company also revealed investments in AI initiatives to improve patient referrals and treatment efficiencies.

• Edwards Lifesciences is partnering with the American Heart Association in a bid to treat patients within 90 days of an aortic stenosis diagnosis.

• Focused on growing in the tricuspid sector, the company is maintaining relationships with high-volume tricuspid centres. The company also highlighted the potential of its SAPIEN X4 for allowing greater customization in valve therapy.

More details: Edwards Lifesciences IR

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