Edwards Lifesciences reported robust financial results for the third quarter ended September 30, 2024, with total company sales from continuing operations growing 10% year-over-year. This performance was slightly ahead of the company's guidance expectations, driven by strong contributions from both TAVR and the rapidly growing TMTT product group.
Transcatheter Aortic Valve Replacement (TAVR) sales reached $1.0 billion, marking a 6% increase, while Transcatheter Mitral and Tricuspid Therapies (TMTT) sales were $91 million, reflecting continued adoption of the PASCAL and EVOQUE systems. Surgical Structural Heart sales also grew 5% on a constant currency basis to $240 million, fueled by global adoption of premium surgical technologies.
The company maintained a strong adjusted gross profit margin of 80.7% and reported adjusted earnings per share of $0.67, slightly exceeding its Q3 model. Edwards also repurchased $1.0 billion of stock during the quarter and reaffirmed its full-year sales growth guidance of 8% to 10% and Q4 EPS guidance of $0.53 to $0.57.
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