$EW · Edwards Lifesciences Corp
Edwards Lifesciences filed its 10-Q for Q3 FY2026 (ended September 30, 2026). Net sales rose 10.5% YoY to $1.716B, with gross margin of 78.5% and operating margin of 17.4%. Net income attributable to Edwards was $307.5M, or $0.53 diluted EPS, up from $291.1M ($0.50) a year earlier. Results were pressured by a $220.2M impairment of intangible and long-lived assets and a $163.6M loss on impairment recorded in the nine-month period.
- Q3 net sales rose 10.5% YoY to $1.7155B from $1.5531B.
- Diluted EPS was $0.53, up from $0.50 a year earlier.
- A $220.2M impairment of intangible and long-lived assets hit Q3 operating income.
- Nine-month net income attributable to Edwards fell to $930.1M from $982.3M.
- Operating cash flow for nine months was $1.266B, up from $1.144B.
Extended-hours last trade of $101.88 is +2.53% vs the $99.37 regular close, suggesting investors are rewarding the 10.5% revenue growth despite the impairment charge.
Solid top-line growth and EPS expansion are offset by a large impairment charge, making the quarter a mixed signal for investors.
Edwards' double-digit revenue growth contrasts with a mixed medtech tape, but the recurring impairment charges (also $40.0M in Q3 2025) point to ongoing portfolio write-down pressure.
The filing discloses a $220.2M impairment of intangible and long-lived assets in Q3 and a $163.6M loss on impairment in the nine-month period, indicating potential overvaluation of acquired assets. Tariffs, trade restrictions, and reimbursement changes are flagged as ongoing risks.