Boston Scientific Q2 Profit Climbs, Projects Q3, FY23 Earnings

(RTTNews) - Boston Scientific Corp. (BSX) Thursday announced an increase in second-quarter earnings as revenue grew 11 percent from the prior year.

The company reported a quarterly profit of $270 million, compared to $260 million in the same period last year On a per-share basis, earnings were $0.18, up from $0.17 a year ago.

On average, 27 analysts polled by Thomson Reuters expected the company to earn $0.49 per share. Analysts estimates usually exclude special items.

Revenues were at $3.599 billion, up from $3.244 billion last year. Analysts expected revenue of $3.5 billion.

Looking ahead to the third quarter, the company expects earnings per share in a range of $0.21 to $0.25. On an adjusted basis, earnings is projected to be in the range of $0.46 to $0.48 per share. Wall Street is looking for $0.48 per share on revenue of $3.44 billion.

Sales growth in the next quarter is expected to be approximately 8.5 to 10.5 percent on a reported basis, and approximately 7 to 9 percent on an organic basis.

For the full year, the current projection is in the range of $0.87 to $0.93 and adjusted earnings are in the range of $1.96 to $2.00 per share. Analysts are looking for 1.95 per share on revenue of $13.95 billion.

The company now estimates net sales growth for the full year 2023, versus the prior year period, to be approximately 10.5 to 11.5 percent on a reported basis, and approximately 10 to 11 percent on an organic basis. Full-year organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales.

Mike Mahoney, chairman and chief executive officer of Boston Scientific said, "We are excited about our long-term outlook and a robust pipeline of unique innovations to address unmet patient needs."