Boston Scientific Q2 2024 Earnings Report
Key Takeaways
Boston Scientific reported net sales of $4.120 billion for the second quarter of 2024, representing a 14.5% increase on a reported basis. The company's GAAP net income attributable to Boston Scientific common stockholders was $324 million, or $0.22 per share, and adjusted EPS was $0.62.
Net sales increased by 14.5% on a reported basis, 16.1% on an operational basis, and 14.7% on an organic basis compared to the prior year period.
GAAP net income attributable to Boston Scientific common stockholders was $0.22 per share.
Adjusted EPS reached $0.62 per share.
The company achieved significant net sales growth in both the MedSurg and Cardiovascular segments.
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Boston Scientific Revenue by Segment
Forward Guidance
The company estimates net sales growth for the full year 2024 to be in the range of approximately 13.5 to 14.5 percent on a reported basis and 13 to 14 percent on an organic basis. The company estimates EPS on a GAAP basis in a range of $1.34 to $1.38 and estimates adjusted EPS of $2.38 to $2.42. For the third quarter of 2024, the company estimates net sales growth to be in a range of approximately 13 to 15 percent on both a reported and organic basis, with EPS on a GAAP basis in a range of $0.36 to $0.38 and adjusted EPS of $0.57 to $0.59.
Positive Outlook
- Full year 2024 net sales growth is expected to be between 13.5% and 14.5% on a reported basis.
- Full year 2024 organic net sales growth is projected to be between 13% and 14%.
- Full year 2024 EPS is estimated to be between $1.34 and $1.38 on a GAAP basis.
- Full year 2024 adjusted EPS is expected to be between $2.38 and $2.42.
- Third quarter 2024 net sales growth is projected to be between 13% and 15% on both a reported and organic basis.
Challenges Ahead
- Third quarter 2024 EPS is estimated to be between $0.36 and $0.38 on a GAAP basis.
- Third quarter 2024 adjusted EPS is expected to be between $0.57 and $0.59.
- Guidance excludes the impact of foreign currency fluctuations.
- Guidance excludes the impact of acquisitions and divestitures with less than a full period of comparable net sales.
- Future U.S. and global political and economic conditions may impact results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income