Edwards Lifesciences reports results on Wednesday 4 November, after the market closes. The analysts' average EPS estimate for the quarter is $0.74 and the average revenue estimate is $1.7 billion. The report will test whether the company's accelerating revenue growth can sustain itself while operating margin compresses.
Source: reported quarterly EPS and aggregated third-party estimates. Historical surprises are context, not a forecast.
View chart data
| Period | Reported EPS | Analysts' estimate |
|---|---|---|
| Sep '25 | $0.67 | $0.59 |
| Dec '25 | $0.58 | $0.62 |
| Mar '26 | $0.78 | $0.73 |
| Jun '26 | $0.78 | $0.74 |
What analysts expect from Edwards Lifesciences
The analysts' average EPS estimate for the quarter is $0.74, in a range from $0.72 to $0.77. The average revenue estimate is $1.7 billion. For the full year, the analysts' average EPS estimate is $3.00, which would be up 17.2% on the prior year, based on 27 analysts. Of the analysts' recommendations, 23 are positive, 7 neutral and 0 negative.
Company guidance
In its latest earnings release, management set full-year 2026 adjusted EPS guidance at $2.95 to $3.05. Third-quarter adjusted EPS guidance was set at $0.71 to $0.77. Full-year 2026 total company sales guidance is $6.6 billion to $6.9 billion, and third-quarter total sales guidance is $1.6 billion to $1.7 billion.
Earnings surprise model
The model estimates EPS could land above the analysts' average estimate by 3.1%. Its estimated chance of an EPS beat is 62.5%, based on the last 4 quarters. The model shrinks the median recent surprise toward zero and uses a neutral prior for beat frequency; this small sample is a reference estimate, not company guidance.
Edwards Lifesciences' record against estimates
The company reported EPS above the analysts' average estimate in 3 of the last 4 quarters. Last quarter, EPS of $0.78 compared with an estimate of $0.74, above it by 5.2%.
Cash is holding up better than reported profit
Revenue over the twelve months to Q2 2026 was $6.5 billion, which rose 14.6% on the year before. That growth rate was up 0.4 percentage points on the rate a quarter earlier. The trailing gross margin was 77.8%. The trailing operating margin was 22.3%, down 3.6 percentage points from a year earlier. The trailing net margin was 15.4%. Net income over the twelve months was $1.0 billion, which fell 75.8% on the year before.
The cash picture moves in the other direction. Operating cash flow over the twelve months was $1.7 billion, up 116.4% on the year before. Capital spending was $286.7 million, or 4.4% of revenue. Free cash flow was $1.4 billion, up 143.9% on the year before. The free-cash-flow margin was 22.0%, up 11.7 percentage points from a year earlier. The average diluted share count fell 1.6% over the year.
Against its own history, the free-cash-flow margin of 22.0% is higher than 81% of the company's past quarterly readings, which have ranged from 5.3% to 51.1%. The operating margin of 22.3% is higher than 29% of past readings, which have ranged from 18.4% to 33.6%. The twelve-month revenue growth rate of 14.6% is higher than 71% of past readings, which have ranged from −22.2% to 27.5%.
Questions this report will answer
The report will answer whether the pick-up in revenue growth continues, whether results land above or below the analysts' expectations set out above, and whether margins hold at the trailing levels described.
What Edwards Lifesciences' share price implies against our model
In our model, growth 5 percentage points lower would lower the value by 22.6%, and growth 5 percentage points higher would raise it by 29.1%. A free-cash-flow margin 1 percentage point lower would lower the value by 4.2%.
