Edwards Lifesciences Reports Strong Q3 2025 Results and Announces CFO Transition

EdwardCFOResignation, successor yet to be announced.

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Q3Sales Growth14.7%

Forecast for the Year Raised

Recently, Edwards Lifesciences released its latest financial report,2025YearQ3Sales Growth14.7%，To15.5Billion USD, growth after adjustment12.6%。

On the same day, Edwards Lifesciences also announced,Chief Financial Officer (CFO)Scott UllemWill be2026Mid-year resignation.After the appointment of a new Chief Financial Officer,UllemWill continue to serve in an advisory role.

The financial report shows,2025Q3EdwardAdjusted Gross Margin is77.9%，Decreased compared to the same period last year.R&D expenses2.81Billion US dollars, the same period last year was2.53Billion US dollars.

Edward revised the company's full-year sales growth forecastIncreased to9%-10%. In addition,TAVRThe potential growth rate guidance from6%-7%Increase to7%-8%，TMTTSales guidance for the surgical products group remains unchanged.

The company expects that the total sales in the fourth quarter will be15.1Billion USD-15.9Billion US dollarsBetween, adjusted earnings per share is0.58USD to0.64Dollar.

Last year,BDMedtronic Announces Completion of Acquisition of Edwards Lifesciences' Critical Care Business, this deal reached42Billion US dollars.Currently, Edwards Lifesciences hasThe investment focus is on the continuously expanding structural heart portfolio.

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FocusStructural Heart Portfolio

TAVRGrowth better than expected, TMTTRobust Growth

Focusing on the细分板块, Edwards Life Sciences has the largest volume in transcatheter aortic valve replacement (TAVR）2025Q3Sales amount to11.5Billion US dollars，Year-on-yearGrowth12.4%; On a fixed exchange rate basis, sales increased10.6%。

Edwards LifesciencesInTAVRThe market occupies an important position.According to predictions from Wall Street investment institutions,2023Global Share of Edwards in Transcatheter Aortic Valve Replacement in Year57.9%。EdwardIn this marketTop CompetitionThe patient isMedtronic, the latter's market share28.5%。

The third quarter of this yearEdwards LifesciencesTAVRGrowth Better Than Expected。According to the disclosure,Clinicians Refocus on Aortic Stenosis Treatment。Sales growth in multiple regions has been supported by new evidence, guideline updates, and expanded indications.

By region,Outside the United StatesRegion, the company continues to focus on the value of its differentiated technology and the increasing adoption of treatments, particularly in regions where many patients lack access to treatment. EuropeAspect`, the exit of competitors`BringOf the marketReallocate, and for Edward's salesBringModerate contribution. JapanAspect，TAVRSales GrowthSomewhatImprovement, the market gradually recovers.

According to Frost & SullivanData, GlobalTAVRThe market is composed of2014Year's15Billion USD expanded to2018Year's41billion dollars, expected to reach2025Yearly Reach104Billion USD, with a compound annual growth rate of14.3%，Belongs to the fast-growing device sector.

2025Q3EdwardTranscatheter Mitral and Tricuspid Valve Therapies in Life Sciences (TMTT）Also achieved strong growth,Sales amount to1.452Billion USD, year-on-year growth59.3%, adjusted to53.2%。

This growth is mainlyByPASCALAndEVOQUEStrong Pull。In addition, Europe introducedSAPIEN M3Later, it was observed thatFinishedGood preliminary clinical results. New in the third quarterPublishedESC/EACTSGuidelineIn China,Management of Patients with Mitral and Tricuspid Valve DiseasesTheRelevant updates, further supportFinishedTranscatheter TreatmentApplication。

However, overall,TMTTThe development of the market is significantly lagging behind.TAVR。CEO of EdwardsBernard ZovighianPreviously alsoRepresentation：“TMTTCorrectEdwardsThe contribution to development is just beginning.。“

EdwardLife Science2025Q3Surgical DepartmentSales amount to2.58Billion USD, year-on-year growth7.5%，Adjusted Year-over-Year Growth5.6%。Compared to the former two, this sector has experienced relatively moderate growth.

At present,RESILIAThe application of aortic and mitral valve treatments is becoming increasingly widespread, and the number of patients receiving optimal surgical treatment, including complex and concomitant surgeries, is growing. WithKONECTAt the end of the second quarterCECertification: The company expanded access for patients in European countries in the third quarter.

Driven by its core business, the future performance of this medical device giant is worth looking forward to.

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