Filing Flows › Edwards Lifesciences (EW) › Q1 2025
Edwards Lifesciences (EW) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Edwards Lifesciences (EW) reported revenue of $1.4B for the first quarter 2025 (Q1 2025), +6% from a year earlier and +2% from the quarter before. Operating margin was 27.9%, net earnings $358M (25.3% of revenue).
Edwards Lifesciences, Q1 2025: revenue $1.4B (+6% year over year), operating margin 27.9%, net earnings $358M, operating cash flow $280M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +2% | +6% |
| Gross profit | $1.1B | +2% | +7% |
| Operating profit | $395M | +26% | +13% |
| Net earnings | $358M | -7% | +2% |
| Operating cash flow | $280M | — | — |
| Free cash flow | $224M | — | — |
What changed
Revenue was $1.4B in Q1 2025, up 6% year over year and up 2% from the previous quarter. Transcatheter Aortic Valve Replacement was the largest line at 74% of revenue. Transcatheter Mitral and Tricuspid Therapies added $0.04B year over year (up 58%), 51% of the total change.
Gross margin was 78.7%, up 0.2 points from a year earlier. Operating profit was $0.39B, a 27.9% margin (up 1.7 points year over year). Of the extra revenue versus a year earlier, 55% reached operating profit, above the 26% margin then. Operating expenses grew 3% against revenue growth of 6%. Net earnings were $0.36B, up 2% year over year ($0.36B including minority interests, which bore $1.6M of losses). The effective tax rate was 16.5%.
Operating cash flow was $0.28B, 79% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.15B. Capital expenditures of $0.06B left free cash flow of $0.22B.
Questions
What was Edwards Lifesciences' revenue in the first quarter 2025?
Edwards Lifesciences (EW) reported revenue of $1.4B for the first quarter 2025 (Q1 2025), +6% from a year earlier and +2% from the quarter before.
Was Edwards Lifesciences profitable in the first quarter 2025?
Operating profit was $395M (27.9% of revenue) and net earnings $358M.