Every 10-Q that Edwards Lifesciences Corp (EW) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow EW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full EW filings page.
Edwards Lifesciences reported higher first-quarter 2026 results, led by growth in structural heart therapies. Net sales from continuing operations rose to $1.65 billion from $1.41 billion, driven mainly by Transcatheter Aortic Valve Replacement (TAVR) and Transcatheter Mitral and Tricuspid Therapies (TMTT).
Net income attributable to the company increased to $380.7 million from $358.0 million, and diluted earnings per share from continuing operations were $0.66 versus $0.62 a year earlier. Strong operating income of $477.6 million included higher litigation expenses and a $123.6 million non-operating impairment tied to an earlier medical-device investment, partially offset by a $65.2 million gain on remeasurement of a previously held interest.
The company generated $43.8 million in operating cash flow, spent heavily on share repurchases including a $500 million accelerated share repurchase, and ended the quarter with $2.45 billion in cash and cash equivalents. It also completed the $128.9 million acquisition of Autus Valve Technologies to expand its pediatric pulmonary valve pipeline while continuing to navigate multiple tax and patent disputes with recorded legal accruals.
Edwards Lifesciences (EW) reported Q3 2025 results. Net sales rose to $1,553.1M from $1,354.4M, while operating income declined to $307.1M from $350.6M as expenses increased. Diluted EPS from continuing operations was $0.50 versus $0.61 a year ago. Total diluted EPS was $0.50, compared with $5.13 last year, which included a large discontinued operations gain.
The quarter included $90.4M of certain litigation expenses and a $40.0M intangible asset impairment, partially offset by a $12.5M favorable change in contingent consideration and $12.5M of other operating income. Year-to-date cash from operations improved to $1,144.3M. Cash, cash equivalents, and restricted cash were $2,694.8M at period end.
Following the 2024 sale of Critical Care, discontinued operations posted a small loss this quarter. Edwards recorded TSA income of $12.7M and reported a remaining unfavorable contract liability of $47.1M tied to services, with a net payable to BD of approximately $84.4M. The company repurchased $852.8M of stock year-to-date and acquired the remaining interest in Vectorious for $233.7M. Shares outstanding were 580.3 million as of October 31, 2025.
Edwards Lifesciences (EW) Q2 2025 10-Q highlights
Net sales rose 12% YoY to $1.53 bn, driven by transcatheter valve therapies, lifting 1H revenue to $2.95 bn (+9%). Gross margin slipped 240 bp to 77.5% on mix and higher manufacturing cost, but operating income still advanced 12% to $411 m helped by $21 m of TSA income from the September 2024 Critical Care divestiture. A $47 m impairment on an unexercised acquisition option and a sharply higher tax provision ($64 m vs $20 m) cut continuing-ops net income 8% to $336 m; diluted EPS fell to $0.56 (-8%).
Discontinued operations (Critical Care & one minor product line) logged a $4 m loss vs a $1 m profit last year. Combined, GAAP net income attributable to EW declined 9% to $333 m.
Cash & balance sheet
- Operating cash flow surged 79% YoY to $571 m on working-capital improvements.
- Cash & equivalents climbed to $3.27 bn; total liquidity (cash + ST investments) is $4.06 bn.
- Total liabilities fell 4% to $2.88 bn; net cash position of ~$2.7 bn.
Capital allocation & restructuring
- Repurchased $264 m of stock (-3% share count YoY); treasury stock at cost now $6.46 bn.
- Realignment severance reserve down to $10 m; majority of payments due 2H 25.
Key takeaways: Top-line momentum and robust cash generation underline core valve franchises, while EPS was pressured by non-recurring impairment and taxes. Post-divestiture focus on structural-heart pipeline and optionality from sizeable cash balance remain central to the investment case.