Filing Flows › Edwards Lifesciences (EW) › Q2 2026 › vs Q1 2026
Edwards Lifesciences (EW) Q2 2026 vs Q1 2026 (quarter over quarter)
Edwards Lifesciences's revenue rose $92.4M (+6%) from $1.6B in Q1 2026 to $1.7B in Q2 2026. The biggest changes: Transcatheter Aortic Valve Replacement +$61.0M (+5%); Transcatheter Mitral and Tricuspid Therapies +$23.5M (+13%); Surgical +$7.9M (+3%). Gross margin 77.5% against 78.0% (-0.5 pts).
Edwards Lifesciences, Q2 2026: revenue $1.7B (+14% year over year), operating margin 29.5%, net earnings $242M, operating cash flow $652M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 77.5% | 78.0% | -0.5 pts |
| Operating margin | 29.5% | 29.0% | +0.5 pts |
| Net margin | 13.9% | 23.1% | -9.2 pts |
| Free cash flow margin | 33.6% | -1.3% | +34.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Transcatheter Aortic Valve Replacement | $1.3B | $1.2B | $61.0M | +5% |
| Surgical | $284M | $276M | $7.9M | +3% |
| Transcatheter Mitral and Tricuspid Therapies | $199M | $175M | $23.5M | +13% |
| Revenue | $1.7B | $1.6B | $92.4M | +6% |
| Gross profit | $1.3B | $1.3B | $62.6M | +5% |
| Cost of revenue | $392M | $363M | $29.8M | +8% |
| Other income, net | $6.6M | −$18.6M | $25.2M | — |
| Operating profit | $513M | $478M | $35.6M | +7% |
| Operating expenses | $835M | $808M | $27.0M | +3% |
| Pre-tax earnings | $520M | $459M | $60.8M | +13% |
| Loss borne by minority interests | $500K | $0 | $500K | — |
| Net earnings | $242M | $381M | −$139M | -36% |
| Income tax | $278M | $78.3M | $200M | +256% |
| Depreciation & amortization | $42.7M | $40.9M | $1.8M | +4% |
| Share-based compensation | $42.2M | $45.4M | −$3.2M | -7% |
| Working capital & other | $325M | −$423M | $748M | — |
| Operating cash flow | $652M | $43.8M | $608M | 15× |
| Free cash flow (OCF − capex) | $585M | −$21.1M | $606M | — |
| Capital expenditures | $66.9M | $64.9M | $2.0M | +3% |
Questions
How much did Edwards Lifesciences's revenue grow quarter over quarter in Q2 2026?
Edwards Lifesciences's revenue rose $92.4M (+6%) from $1.6B in Q1 2026 to $1.7B in Q2 2026.
What drove Edwards Lifesciences's revenue change in Q2 2026?
Transcatheter Aortic Valve Replacement +$61.0M (+5%); Transcatheter Mitral and Tricuspid Therapies +$23.5M (+13%); Surgical +$7.9M (+3%).