Filing Flows › Edwards Lifesciences (EW) › Q1 2026
Edwards Lifesciences (EW) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Edwards Lifesciences (EW) reported revenue of $1.6B for the first quarter 2026 (Q1 2026), +17% from a year earlier and +5% from the quarter before. Operating margin was 29.0%, net earnings $381M (23.1% of revenue).
Edwards Lifesciences, Q1 2026: revenue $1.6B (+17% year over year), operating margin 29.0%, net earnings $381M, operating cash flow $43.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +5% | +17% |
| Gross profit | $1.3B | +5% | +16% |
| Operating profit | $478M | +216% | +21% |
| Net earnings | $381M | +317% | +7% |
| Operating cash flow | $43.8M | -90% | -84% |
What changed
Revenue was $1.6B in Q1 2026, up 17% year over year and up 5% from the previous quarter. Transcatheter Aortic Valve Replacement was the largest line at 73% of revenue. Transcatheter Aortic Valve Replacement added $0.15B year over year (up 14%), 64% of the total change.
Gross margin was 78.0%, down 0.6 points from Q1 2025. Operating profit was $0.48B, a 29.0% margin (up 1.0 points year over year). Of the extra revenue versus Q1 2025, 35% reached operating profit, above the 28% margin then. Operating expenses grew 13% against revenue growth of 17%. Net earnings were $0.38B, up 6% year over year. The effective tax rate was 17.1%.
Operating cash flow was $0.04B (down 84% year over year), 12% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.42B. Capital expenditures of $0.06B exceeded it, leaving free cash flow of −$0.02B.
Questions
What was Edwards Lifesciences' revenue in the first quarter 2026?
Edwards Lifesciences (EW) reported revenue of $1.6B for the first quarter 2026 (Q1 2026), +17% from a year earlier and +5% from the quarter before.
Was Edwards Lifesciences profitable in the first quarter 2026?
Operating profit was $478M (29.0% of revenue) and net earnings $381M.