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Mar 31, 2024
Boston Scientific Q1 2024 Earnings Report
Boston Scientific's Q1 2024 earnings surpassed expectations, driven by strong performance across its diversified businesses and the launch of the FARAPULSE™ Pulsed Field Ablation System.
Key Takeaways
Boston Scientific reported net sales of $3.856 billion for Q1 2024, a 13.8% increase on a reported basis. GAAP net income attributable to Boston Scientific common stockholders was $495 million, or $0.33 per share, while adjusted EPS reached $0.56.
Net sales increased by 13.8% on a reported basis, exceeding the company's guidance range.
GAAP EPS was reported at $0.33, surpassing the company's guidance.
Adjusted EPS reached $0.56, also exceeding the company's guidance.
The company commenced the launch of the FARAPULSE™ Pulsed Field Ablation System in the U.S.
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.comLatin America & Canada Revenue
CapyFin.comEmerging Markets Revenue
CapyFin.com Forward Guidance
The company estimates net sales growth for the full year 2024 to be in the range of approximately 11 to 13 percent on a reported basis, and 10 to 12 percent on an organic basis. The company estimates EPS on a GAAP basis in a range of $1.43 to $1.48 and estimates adjusted EPS of $2.29 to $2.34. For the second quarter of 2024, the company estimates net sales growth to be in a range of approximately 10.5 to 12.5 percent on a reported basis, and approximately 10 to 12 percent on an organic basis. The company estimates EPS on a GAAP basis in a range of $0.35 to $0.37 and adjusted EPS of $0.57 to $0.59.
Positive Outlook
- Full year 2024 net sales growth is expected to be between 11% and 13% on a reported basis.
- Full year 2024 organic net sales growth is projected to be between 10% and 12%.
- Full year 2024 EPS is estimated to be between $1.43 and $1.48 on a GAAP basis.
- Full year 2024 adjusted EPS is projected to be between $2.29 and $2.34.
- Second quarter 2024 net sales growth is expected to be between 10.5% and 12.5% on a reported basis.
Challenges Ahead
- Second quarter 2024 organic net sales growth is projected to be between 10% and 12%.
- Second quarter 2024 EPS is estimated to be between $0.35 and $0.37 on a GAAP basis.
- Second quarter 2024 adjusted EPS is projected to be between $0.57 and $0.59.
- Full year organic net sales guidance excludes the impact of foreign currency fluctuations.
- Second quarter organic net sales guidance excludes the impact of foreign currency fluctuations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income