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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