EW · 10-Q · 2026Q2

Edwards Lifesciences Corp

Filed 2026-08-04 · Healthcare · View original filing on EDGAR

Ranked Events

• Litigation and Legal RiskImportance 71 · Surprise 60
  The IRS is pursuing transfer-pricing adjustments involving Edwards’ Surgical/TAVR intercompany royalty transactions for tax years 2015–2017, with additional tax sought of $269.3 million before interest and a…
• Tax Litigation and ExposureImportance 71 · Surprise 60
  The IRS is seeking $269.3 million of additional federal tax before interest and a repatriation-tax offset for 2015–2017 intercompany royalty transactions involving Surgical and TAVR subsidiaries. During the second…
• End-Market Demand TrendsImportance 64 · Surprise 56
  Net sales increased 15.1% year over year to $3,389.6 million in the first six months of 2026, driven primarily by TAVR and TMTT products. TAVR sales rose 12.8% to $2,455.6 million, supported by higher Edwards SAPIEN…
• Geographic Market CommentaryImportance 59 · Surprise 48
  All reported regions grew in the first six months of 2026, with sales increasing 12.3% in the United States to $1,941.1 million, 22.5% in Europe to $882.2 million, 5.6% in Japan to $187.0 million, and 18.8% in Rest of…
• Operating Cash Flow and CapexImportance 59 · Surprise 48
  Operating cash flow increased $125.1 million year over year to $695.7 million for the six months ended June 30, 2026. The improvement primarily reflected lower tax payments, while higher working-capital needs partially…
• Capital Return ProgramImportance 58 · Surprise 42
  Edwards repurchased 6.9 million common shares for $558.7 million during the six months ended June 30, 2026. The repurchases included $500.0 million of accelerated share repurchase agreements executed during the period.…
• Revenue Performance and MixImportance 54 · Surprise 40
  Six-month 2026 net sales increased 15.1% year over year to $3,389.6 million from $2,944.9 million, with TAVR and TMTT driving the $444.7 million increase. TAVR sales rose 12.8% to $2,455.6 million, while TMTT sales…
• Income Tax Rate ChangesImportance 53 · Surprise 60
  California budget legislation enacted June 29, 2026 permanently limits utilization of most business tax credits, including research and development tax-credit carryforwards. Edwards recorded a $188.2 million valuation…
• Liquidity and Debt PositionImportance 49 · Surprise 6
  At June 30, 2026, Edwards held $3.7 billion of cash and cash equivalents and $540.5 million of short-term investments across the United States and foreign locations. The company had no borrowings under its $750.0…
• VIE Investment ImpairmentImportance 47 · Surprise 60
  Edwards recorded impairment losses of $163.6 million for the six months ended June 30, 2026, compared with $40.0 million in the second quarter alone. The losses resulted from termination of an option agreement to…
• Acquisition / Partnership / DivestitureImportance 47 · Surprise 60
  Edwards acquired Autus Valve Technologies in February 2026 for total consideration of $128.9 million, including $35.1 million of cash consideration funded from existing cash. The transaction includes contingent…
• Product Launch and TransitionImportance 44 · Surprise 60
  Edwards received FDA approval in January 2026 for the SAPIEN 3 transcatheter pulmonic valve delivery system for pediatric and adult patients with congenital heart disease. In June 2026, the company received CE Mark for…
• Regulatory Approval MilestonesImportance 38 · Surprise 60
  Edwards received FDA approval in January 2026 for the SAPIEN 3 transcatheter pulmonic valve delivery system for pediatric and adult patients with congenital heart disease. In June 2026, the company received CE Mark…
• Trade Policy and TariffsImportance 37 · Surprise 42
  Edwards stated that changes to U.S. trade policy include increased tariffs on imports and non-U.S. retaliatory tariffs. The company is assessing potential effects and may pursue supply-chain actions and tariff…
• Gross Margin DriversImportance 25 · Surprise 14
  Gross profit increased in both the three and six months ended June 30, 2026, primarily because of higher sales. Gross margin declined by 0.7 percentage points in the second quarter and 0.5 percentage points for the…
• Operating Expense TrendsImportance 24 · Surprise 14
  SG&A expense increased during the three and six months ended June 30, 2026 because of higher headcount-related expenses and commercial activities supporting patient care. Foreign-currency movements increased SG&A by…

Revenue by Product (in millions)

Revenue by Geography (in millions)