Edwards Lifesciences (EW) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Edwards Lifesciences published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Edwards Lifesciences reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Edwards' reportable segments are geographic (United States, Europe, Japan and Rest of World). The product group table is the one the release leads with.
• TMTT sales here include $2.9 million of Implantable Heart Failure Management revenue that Edwards leaves out of its own $207 million TMTT figure. Surgical includes $1.5 million under a transitional service agreement.

Source: Edwards Lifesciences Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Edwards Lifesciences splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Edwards Lifesciences's Transcatheter Aortic Valve Replacement revenue was $1.2 billion in Q3 2026, up 8% from $1.1 billion in Q3 2025, 72% of total revenue.
• Edwards Lifesciences's Transcatheter Mitral and Tricuspid Therapies revenue was $210 million in Q3 2026, up 44% from $145 million in Q3 2025, 12% of total revenue.
• Edwards Lifesciences's Surgical revenue was $264 million in Q3 2026, up 2% from $258 million in Q3 2025, 15% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Edwards guides sales growth on a constant currency basis and EPS on an adjusted basis only.

In its Q3 2026 release, Edwards Lifesciences said:

“As a result of the company's strong third quarter results, Edwards is increasing its full-year 2026 sales growth rate guidance to approximately 11.5% from 10% to 11% and TAVR product group sales growth guidance to 9% to 9.5% from 8% to 9%.”

“In addition, Edwards is increasing TMTT product group sales guidance to $780 to $790 million from $760 to $780 million and is increasing adjusted EPS guidance to $2.97 to $3.05 from $2.95 to $3.05.”

“The company is also reaffirming mid-single-digit growth guidance in Surgical.”

“For the fourth quarter of 2026, the company projects total sales to be between $1.67 and $1.75 billion and adjusted EPS of $0.61 to $0.69.”

Source: Edwards Lifesciences Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the EW forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales from continuing operations and total GAAP diluted EPS, each as first reported in that quarter's release. Q4 2025 EPS of $0.16 includes $0.05 from discontinued operations; continuing operations were $0.11.

We do not hold a confirmed date for Edwards Lifesciences's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Edwards Lifesciences sells structural heart devices in three product groups. In Q3 2026 Transcatheter Aortic Valve Replacement (TAVR) brought in $1,241.6 million of the $1,715.5 million total, up 8.0% from $1,149.9 million, or 8.8% at constant currency. Transcatheter Mitral and Tricuspid Therapies (TMTT) were $209.5 million, up 44.3%, and Surgical $264.4 million, up 2.5%. Total sales grew 10.5%, or 11.2% at constant currency. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026)

In TAVR, Edwards said average selling prices were stable globally and growth rates were similar in the U.S. and outside it. It credited U.S. procedure growth to a heightened focus on TAVR therapy, and said its U.S. competitive position was stable sequentially and up modestly year-over-year on adoption of the SAPIEN 3 Ultra RESILIA platform. CMS released its final, updated national coverage determination for TAVR during the quarter, and Edwards secured new reimbursement for SAPIEN 3 Ultra RESILIA in Japan. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026)

TMTT is the fastest-growing group. Edwards attributed its 45.6% constant currency growth (on its adjusted $207 million figure) to the PASCAL repair system and the EVOQUE and SAPIEN M3 replacement systems, and said mitral and tricuspid procedure volumes grew in the double digits. The FDA approved the PASCAL Ace with Capture Clarity implant for degenerative mitral TEER during the quarter and the PASCAL Precision system for tricuspid regurgitation in October. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026)

By region, U.S. sales were $1,007.6 million, up 11.0%, Europe $414.6 million, up 6.9% (8.2% at constant currency), Japan $92.0 million, up 2.2% (12.2% at constant currency), and Rest of World $201.3 million, up 20.2%. Currency reduced sales by $9.8 million against the year-ago quarter. Edwards manages the business through four geographic reportable segments: United States, Europe, Japan and Rest of World. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026; Edwards Lifesciences Form 10-K, 2025, Feb 25, 2026)

Edwards Lifesciences' GAAP diluted EPS was $0.53 in Q3 2026 and its adjusted EPS $0.80, against $0.50 and $0.67 a year earlier. The biggest item between them was a $220.2 million impairment, $0.33 per share, mostly a $218.4 million write-off of an in-process research and development asset after Edwards revised the development plan and ceased pursuing the project it was acquired for. Adjusted EPS also excludes $8.7 million of acquisition contract termination costs, a $19.1 million unrealized gain on marketable securities and a $12.7 million net litigation insurance recovery. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026; Edwards Lifesciences Form 10-Q, Q3 2026, Nov 4, 2026)

Margins moved in opposite directions on the two bases. GAAP operating margin was 17.4%, against 19.8% a year earlier, while adjusted operating margin was 30.3%, against 27.5%. R&D expense was $281.4 million, 16.4% of sales against 18.1%, and SG&A $560.9 million, 32.7% of sales. The GAAP effective tax rate was 17.0% and the adjusted rate 19.8%. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026)

Buybacks lowered the share count. Diluted weighted average shares were 577.6 million, against 585.7 million a year earlier. Over the first nine months of 2026 Edwards repurchased 8.5 million shares for $696.6 million, including through a $500.0 million accelerated share repurchase agreement, and had about $1.3 billion of authorization left. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026; Edwards Lifesciences Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Edwards Lifesciences gives full-year and next-quarter guidance in its release. After Q3 2026 it raised 2026 sales growth guidance to approximately 11.5% from 10% to 11%, TAVR growth to 9% to 9.5% from 8% to 9%, TMTT sales to $780 to $790 million from $760 to $780 million, and adjusted EPS to $2.97 to $3.05 from $2.95 to $3.05. For Q4 2026 it projects total sales of $1.67 to $1.75 billion and adjusted EPS of $0.61 to $0.69. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026)

Edwards said that from the fourth quarter on it assumes TAVR growth will be driven mainly by procedure volumes and less by share gains. It expects adjusted gross margin at the lower end of its 78% to 79% range because of currency hedging, full-year operating margin at the high end of its 28% to 29% range, and an adjusted tax rate at the high end of 16% to 19%. (Edwards Lifesciences Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Edwards Lifesciences, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Edwards Lifesciences's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning EW is on is EW a buy or a sell?, what analysts expect next is on the EW forecast, and what the company does is on the Edwards Lifesciences (EW) stock page.

Every number on this page can be traced to a document Edwards Lifesciences published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.