Edwards Lifesciences (EW) Q1 FY2026 earnings: revenue $1.6 billion, up 16.7% on the year
Edwards Lifesciences Corp. (EW) reported revenue of $1.6 billion for Q1 FY2026, the quarter ended 31 March 2026, up 16.7% on the same quarter a year earlier. Net income was $381 million, up 6.3% on the year, and diluted earnings per share $0.66. The figures are the company's own, from the 10-Q it filed with the SEC on 6 May 2026.
Revenue
$1.6 billion
+16.7% on the year · +5.0% on the quarter
Q2 FY2024Q1 FY2026
Operating margin
29.0%
27.9% a year earlier
Q2 FY2024Q1 FY2026
Net income
$381 million
+6.3% on the year · +317.4% on the quarter
Q2 FY2024Q1 FY2026
Diluted EPS
$0.66
+8.2% on the year · +312.5% on the quarter
Q2 FY2024Q1 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
Net sales rose 16.7% to $1.65 billion: Net sales were $1,648.6 million against $1,412.7 million a year earlier, up 16.7% reported and 12.7% on a constant currency basis.
Adjusted EPS of $0.78: Adjusted EPS was $0.78, against $0.64 a year earlier. Management linked the result to operational performance and to the timing of strategic investments through the year.
TAVR sales grew 14.4%: TAVR sales were $1.2 billion, up 14.4% reported and 11.0% on a constant currency basis. Average selling prices were stable globally, and competitive position rose slightly after a competitor exited Europe.
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
43.8
451
280
-90.3%
-84.4%
Capital expenditure
64.9
97.4
56.0
-33.4%
+15.9%
Free cash flow
-21.1
354
224
Free cash flow margin
-1.3%
22.5%
15.9%
Cash from investing
-92.8
-198
85.3
Cash from financing
-451
-11.4
-258
Depreciation and amortisation
40.9
42.7
36.6
-4.2%
+11.7%
Share-based compensation
45.4
39.2
40.2
+15.8%
+12.9%
Buybacks
422
40.6
259
+938.9%
+63.1%
Diluted shares, weighted
581m
582m
588m
-0.2%
-1.2%
Shares outstanding at period end
577m
581m
586m
-0.6%
-1.6%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
10,328
10,338
10,129
-0.1%
+2.0%
Non-controlling interest
n/a
0.0
62.9
Debt
598
598
598
+0.0%
+0.1%
Operating lease liabilities
80.1
82.6
77.9
-3.0%
+2.8%
Other liabilities
2,315
2,679
2,155
-13.6%
+7.4%
Total liabilities and equity
13,321
13,697
13,022
-2.7%
+2.3%
Fixed assets
1,823
1,812
1,698
+0.6%
+7.3%
Goodwill
1,820
1,769
1,779
+2.9%
+2.3%
Intangible assets
1,228
1,128
1,175
+8.8%
+4.5%
Investments
1,512
1,567
1,036
-3.5%
+45.9%
Cash and equivalents
2,446
2,938
3,141
-16.8%
-22.1%
Receivables
776
660
669
+17.6%
+15.9%
Inventory
1,119
1,126
1,114
-0.6%
+0.5%
Other assets
2,599
2,698
2,411
-3.7%
+7.8%
Total assets
13,321
13,697
13,022
-2.7%
+2.3%
Questions
What was Edwards Lifesciences' revenue in Q1 FY2026?
Edwards Lifesciences (EW) reported revenue of $1.6 billion for Q1 FY2026, the quarter ended 31 March 2026, up 16.7% on the same quarter a year earlier.
How much did Edwards Lifesciences earn in Q1 FY2026?
Net income for Q1 FY2026 was $381 million, up 6.3% on the year, and diluted earnings per share $0.66.
When did Edwards Lifesciences report Q1 FY2026 results?
Edwards Lifesciences filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 6 May 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 31 March 2026, filed 6 May 2026: the filing.