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Mar 31, 2021
Boston Scientific Q1 2021 Earnings Report
Boston Scientific's first quarter of 2021 resulted in net sales of $2.752 billion, representing an 8.2% increase on a reported basis. GAAP net income was $327 million, or $0.23 per share, and adjusted EPS reached $0.37.
Key Takeaways
Boston Scientific announced strong first-quarter results, with net sales reaching $2.752 billion, reflecting an 8.2% increase. The company's GAAP net income was $327 million, or $0.23 per share, and adjusted EPS was $0.37. The company also updated its full year and Q2 2021 guidance.
Net sales reached $2.752 billion, an 8.2% increase on a reported basis.
GAAP net income available to common stockholders was $0.23 per share.
Adjusted EPS was $0.37, exceeding the guidance range.
Net sales growth was achieved in each reportable segment.
Boston Scientific
Boston Scientific
Boston Scientific Revenue by Segment
Boston Scientific Revenue by Geographic Location
Revenue by Segment
MedSurg Revenue
CapyFin.comCardiovascular Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEurope, Middle East & Africa Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comEmerging Markets Revenue
CapyFin.com Forward Guidance
The company estimates net sales growth for the full year 2021 to be in a range of approximately 16 to 19 percent on a reported basis, and approximately 15 to 18 percent on an organic basis. The company estimates earnings on a GAAP basis in a range of $0.81 to $0.88 per share and estimates adjusted earnings of $1.53 to $1.60 per share.
Positive Outlook
- Net sales growth for the full year 2021 is estimated to be in a range of approximately 16 to 19 percent on a reported basis.
- Full year organic net sales growth is expected to be approximately 15 to 18 percent.
- Earnings on a GAAP basis are estimated to be in a range of $0.81 to $0.88 per share.
- Adjusted earnings are estimated to be $1.53 to $1.60 per share.
- Net sales growth for the second quarter of 2021 is expected to be in a range of approximately 46 to 50 percent on a reported basis.
Challenges Ahead
- Full year organic net sales guidance excludes the impact of foreign currency fluctuations and the acquisition of Preventice Solutions, Inc.
- The guidance also excludes the intrauterine health franchise, which was divested in Q2 2020.
- The guidance excludes the Specialty Pharmaceuticals business, which was divested in Q1 2021.
- Second quarter organic net sales guidance excludes the impact of foreign currency fluctuations and the acquisition of Preventice.
- The second quarter guidance also excludes the intrauterine health franchise and the Specialty Pharmaceuticals business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income