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Saturday, May 28, 2022

Here is why Edwards Lifesciences Corporation (EW) stock is facing headwinds in the pre-markets on Thursday?

Edwards Lifesciences Corporation (EW) share continues its plummeting and as of this writing, it has declined 5.74% in Thursday’s pre-market session. On Wednesday, in the after-hours session, EW shares fell 5.74% and closed at $102.40. Even in the regular trading session of Wednesday, EW’s stock lost 0.79%. EW shares have risen 28.04% over the last 12 months, and they have moved down 6.48% in the past week. Over the past three months, the stock has lost 7.15%, while over the past six months, it has declined 1.30%.


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Let’s discuss its latest news.

EW latest development

On January 26, 2022, Edwards Lifesciences (EW) announced its financial results for the quarter ended December 31, 2021.

Q4 2021 financial highlights

Edwards Lifesciences net sales were $1.33 billion for the fourth quarter of 2021 compared to $1.2 billion in the fourth quarter of 2020. The adjusted gross profit margin was 76.8% compared to 75.3% in Q4, 2020. Selling, general and administrative expenses were $424 million, compared to $339 million in the prior year. It earned a net income of $335.3 million compared to a net income of 309.5 million in Q4, 2020.

Fiscal 2021 financial figures

EW reported net sales of $5.23 billion for fiscal 2021 compared to $4.4 billion fiscal 2020. In FY 2021, selling general and administrative cost was $1.5 billion compared to $1.3 billion in FY 2020. Net income for FY 2021 was $1.50 billion compared to $823.4 million in FY 2020.

FY 2022 financial guidance

Edwards Lifesciences reaffirmed its financial outlook for FY 2022 and now expecting total sales in the range of $5.5 to $6.0 billion for FY 2022. Adjusted earnings per share of $2.50 to $2.65 are expected. For Q1, 2022 totals sales are expected to be in the range of $1.27 to $1.35 billion and adjusted earnings per share to be between $0.54 to $0.62.

EW participation in the recent event

Edwards Lifesciences Corporation (EW) participated at the J.P. Morgan Healthcare Conference which was held on Monday, January 10, 2022. Michael A. Mussallem, chairman and chief executive officer presented the company during the event.

Conclusion

The company missed earnings and revenue estimates in Q4, 2021 due to which its stock price went down on Wednesday. it is still facing the same pressure on Thursday, hence declining in pre-market session as well.

 

 

 

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