Edwards Lifesciences

Q2 FY2026 EarningsQ2 FY26 results were mixed, with a solid top-line beat driven by TAVR and TMTT growth, but a significant miss on GAAP EPS due to non-recurring tax items. Revenue reached $1,741M (+13.6% YoY) vs. $1,699M expected, while GAAP EPS of $0.42 fell sharply below the $0.72 consensus. The variance was primarily driven by a $188.2M valuation allowance on California tax credits and $40M in investment impairments, partially offset by strong underlying demand in structural heart therapies.