Expert Analysis: Edwards Lifesciences (NYSE:EW) Stock Drops After Second Quarter Earnings Report
Edwards Lifesciences (EW) stock is facing a downturn following the release of its second-quarter 2024 earnings report. While the adjusted EPS of 70 cents beat Wall Street’s estimate of 69 cents per share, the revenue of $1.63 billion fell short of analysts’ expectations of $1.65 billion. CEO Bernard Zovighian highlighted strong growth in the TMTT product group but lower-than-expected growth in TAVR.
Looking ahead to the third quarter, EW expects adjusted EPS of 67 to 71 cents and revenue of $1.56 billion to $1.64 billion. This guidance has led to a 22.4% drop in EW stock.
In summary, Edwards Lifesciences’ mixed earnings report and cautious outlook for the future have disappointed investors, resulting in a significant decline in stock value. Traders should stay informed about the latest developments in the stock market to make informed decisions about their investments.