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Boston Scientific
🇺🇸 NYSE:BSX
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Mar 31, 2023

Boston Scientific Q1 2023 Earnings Report

Boston Scientific's first quarter results for 2023 were announced, showcasing strong growth across all businesses and regions.

Key Takeaways

Boston Scientific reported net sales of $3.389 billion for the first quarter of 2023, representing a 12.0% increase on a reported basis. GAAP net income attributable to Boston Scientific common stockholders was $300 million, or $0.21 per share, while adjusted EPS reached $0.47.

Net sales increased by 12.0% on a reported basis, 14.9% on an operational basis, and 14.0% on an organic basis compared to the prior year period.

GAAP net income attributable to Boston Scientific common stockholders was reported at $0.21 per share, while adjusted EPS was $0.47 per share.

MedSurg segment net sales grew by 11.0% reported, 13.4% operational and organic.

Cardiovascular segment net sales increased by 12.7% reported, 15.9% operational and 14.4% organic.

Total Revenue
$3.39B
Previous year: $3.03B
+12.0%
EPS
$0.47
Previous year: $0.39
+20.5%
MedSurg Organic Revenue Growth
13.4%
Previous year: 8%
+67.5%
Cardio Organic Revenue Growth
14.4%
Previous year: 10.8%
+33.3%
Gross Profit
$2.35B
Previous year: $2.07B
+13.4%
Cash and Equivalents
$570M
Previous year: $325M
+75.4%
Free Cash Flow
$79M
Previous year: -$179M
-144.1%
Total Assets
$32.9B
Previous year: $32.3B
+1.7%

Boston Scientific

Boston Scientific

Boston Scientific Revenue by Segment

Forward Guidance

The company estimates net sales growth for the full year 2023 to be approximately 8.5 to 10.5 percent on a reported basis, and approximately 8 to 10 percent on an organic basis. The company estimates EPS on a GAAP basis in a range of $0.93 to $1.02 and estimates adjusted EPS of $1.90 to $1.96.

Positive Outlook

  • Net sales growth for the full year 2023 is estimated to be approximately 8.5 to 10.5 percent on a reported basis.
  • Organic net sales growth for the full year 2023 is projected to be approximately 8 to 10 percent.
  • EPS on a GAAP basis is estimated to be in the range of $0.93 to $1.02 for the full year 2023.
  • Adjusted EPS is projected to be between $1.90 and $1.96 for the full year 2023.
  • Net sales growth for the second quarter of 2023 is expected to be in the range of approximately 6.5 to 8.5 percent on a reported basis.

Challenges Ahead

  • Foreign currency fluctuations are expected to impact net sales growth.
  • Acquisitions and divestitures may impact organic net sales growth.
  • GAAP EPS for the second quarter of 2023 is estimated to be in a range of $0.23 to $0.27.
  • Adjusted EPS for the second quarter of 2023 is projected to be between $0.48 and $0.50.
  • The company's estimates are subject to various risks and uncertainties, including economic, political, and regulatory conditions.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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