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Edwards Lifesciences Swings to 2Q Profit, Points to Recovery Signs

     By Maria Armental 

Edwards Lifesciences Corp. swung to a profit in the latest quarter with sales up 49% from last year, when the pandemic caused a drop in procedures.

The medical-device company reported a second-quarter profit of $489.5 million compared with a year-earlier loss of $121.9 million. On a per-share basis, profit was 78 cents, or 64 cents as adjusted.

Net sales rose to $1.38 billion from $925 million a year earlier.

The company had projected an adjusted profit of 54 cents to 60 cents a share and $1.25 billion to $1.33 billion in revenue, while analysts surveyed by FactSet expected 54 cents a share, or 55 cents as adjusted, on $1.28 billion in revenue.

"We were encouraged by the clear signs of recovery during the second quarter," Chief Executive Michael A. Mussallem said in a statement, adding: "Vaccine adoption in key regions has contributed to an increased number of patients seeking and, most importantly, receiving treatment."


Write to Maria Armental at


(END) Dow Jones Newswires

July 29, 2021 16:45 ET (20:45 GMT)

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