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Boston Scientific
🇺🇸 NYSE:BSX
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Jun 30, 2023

Boston Scientific Q2 2023 Earnings Report

Announced results for the second quarter of 2023, exceeding revenue and adjusted EPS guidance.

Key Takeaways

Boston Scientific reported net sales of $3.599 billion for Q2 2023, representing an 11.0% increase on a reported basis. The company's GAAP net income attributable to Boston Scientific common stockholders was $261 million, or $0.18 per share, and adjusted EPS was $0.53.

Net sales increased by 11.0% on a reported basis, 12.0% on an operational basis, and 11.6% on an organic basis compared to the prior year period.

GAAP net income attributable to Boston Scientific common stockholders was $0.18 per share, and adjusted EPS was $0.53 per share.

MedSurg segment net sales grew by 9.0% reported, 9.6% operational and 8.8% organic.

Cardiovascular segment net sales grew by 12.2% reported, 13.4% operational and organic.

Total Revenue
$3.6B
Previous year: $3.24B
+10.9%
EPS
$0.53
Previous year: $0.44
+20.5%
MedSurg Organic Revenue Growth
8.8%
Previous year: 4.8%
+83.3%
Cardio Organic Revenue Growth
13.4%
Previous year: 7.8%
+71.8%
Gross Profit
$2.54B
Previous year: $2.23B
+13.8%
Cash and Equivalents
$426M
Previous year: $276M
+54.3%
Free Cash Flow
$515M
Previous year: $202M
+155.0%
Total Assets
$33.6B
Previous year: $32.2B
+4.4%

Boston Scientific

Boston Scientific

Boston Scientific Revenue by Segment

Boston Scientific Revenue by Geographic Location

Forward Guidance

The company now estimates net sales growth for the full year 2023 to be approximately 10.5 to 11.5 percent on a reported basis, and approximately 10 to 11 percent on an organic basis. The company estimates net sales growth for the third quarter of 2023 to be in a range of approximately 8.5 to 10.5 percent on a reported basis, and approximately 7 to 9 percent on an organic basis.

Positive Outlook

  • Full year 2023 reported net sales growth estimated between 10.5% and 11.5%.
  • Full year 2023 organic net sales growth estimated between 10% and 11%.
  • Full year 2023 EPS on a GAAP basis is estimated in a range of $0.87 to $0.93.
  • Full year 2023 adjusted EPS is estimated in a range of $1.96 to $2.00.
  • Third quarter 2023 reported net sales growth estimated between 8.5% and 10.5%.

Challenges Ahead

  • Third quarter 2023 organic net sales growth estimated between 7% and 9%.
  • Third quarter 2023 EPS on a GAAP basis is estimated in a range of $0.21 to $0.25.
  • Third quarter 2023 adjusted EPS is estimated in a range of $0.46 to $0.48.
  • Guidance is subject to risks and uncertainties, including economic, political, and regulatory conditions.
  • Foreign currency fluctuations could impact future results.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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