🔹 EPS: $0.59 (Est. $0.55) 🟢
🔹 Revenue: $1.39B (Est. $1.358B) 🟢; UP +9% YoY
Q1'25 Guidance:
🔹 EPS: $0.58-$0.64 (Est. $0.59).
🔹 Revenue: $1.35B-$1.43B (Est. $1.412B).
Segment Performance:
TAVR:
🔹 Revenue: $1.04B (Est. $1.012B) 🟢; UP +6% YoY (5% constant currency).
🔹 Growth supported by SAPIEN 3 Ultra RESILIA in the U.S. and Europe.
TMTT:
🔹 Revenue: $105M (Est. $93.5M) 🟢; UP +88% YoY.
🔹 Strong performance from PASCAL and EVOQUE systems.
Surgical Structural Heart:
🔹 Revenue: $244M (Est. $243.05M) 🟢; UP +6% YoY (5% constant currency).
Robust adoption of the RESILIA portfolio globally.
Other Key Metrics:
🔹 Gross Margin: 79.0% adjusted (Prev. 80.2%).
🔹 SG&A Expenses: $492M (UP +18% YoY); reflects growth in field-based teams and acquisitions.
🔹 R&D Expenses: $271M (UP +12% YoY).
🔹 Adjusted Operating Margin: 25.6%.
🔹 Cash and Cash Equivalents: $3.0B; Total Debt: $600M.
Strategic and Clinical Highlights:
🔸 Presented groundbreaking EARLY TAVR trial results for asymptomatic severe AS patients, with FDA approval expected mid-2025.
🔸 Expanded adoption of EVOQUE and PASCAL systems, with anticipated European approval of SAPIEN M3 by mid-2025.
Management Commentary:
🔸 CEO Bernard Zovighian: "2024 was a year of meaningful progress as we advanced life-saving innovations globally. With catalysts like TAVR, TMTT, and emerging structural heart therapies, we are well-positioned for continued strong performance in 2025."