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Boston Scientific
🇺🇸 NYSE:BSX
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Sep 30, 2022

Boston Scientific Q3 2022 Earnings Report

Boston Scientific's third quarter was marked by double-digit organic revenue growth across nearly every business, despite macro environment challenges.

Key Takeaways

Boston Scientific reported net sales of $3.170 billion, representing an 8.1% increase on a reported basis, a 13.7% increase on an operational basis, and an 11.5% increase on an organic basis compared to the prior year period. The company's GAAP net income available to common stockholders was $174 million, or $0.12 per share, while adjusted EPS reached $0.43.

Net sales increased by 8.1% on a reported basis, exceeding the company's guidance range.

GAAP net income available to common stockholders was $0.12 per share.

Adjusted EPS of $0.43 per share, aligning with the guidance range.

Net sales growth was achieved in each reportable segment.

Total Revenue
$3.17B
Previous year: $2.93B
+8.1%
EPS
$0.43
Previous year: $0.41
+4.9%
MedSurg Organic Revenue Growth
9.8%
Previous year: 9.4%
+4.3%
Cardio Organic Revenue Growth
12.6%
Previous year: 18.5%
-31.9%
Gross Profit
$2.18B
Previous year: $2.03B
+7.3%
Cash and Equivalents
$338M
Previous year: $1.95B
-82.6%
Free Cash Flow
$320M
Previous year: $358M
-10.6%
Total Assets
$31.9B
Previous year: $31.9B
+0.2%

Boston Scientific

Boston Scientific

Boston Scientific Revenue by Segment

Boston Scientific Revenue by Geographic Location

Forward Guidance

The company estimates net sales growth for the full year 2022 to be approximately 6.5 percent on a reported basis, and approximately 9 percent on an organic basis. The company estimates EPS on a GAAP basis in a range of $0.57 to $0.63 and estimates adjusted EPS of $1.71 to $1.74. For the fourth quarter of 2022, the company estimates net sales growth to be in a range of approximately 2 to 4 percent on a reported basis, and approximately 7 to 9 percent on an organic basis. The company estimates EPS on a GAAP basis in a range of $0.23 to $0.28 and adjusted EPS of $0.45 to $0.48.

Positive Outlook

  • Full year 2022 net sales growth is estimated to be approximately 6.5% on a reported basis.
  • Full year 2022 organic net sales growth is estimated to be approximately 9%.
  • Full year 2022 EPS is estimated to be in the range of $0.57 to $0.63 on a GAAP basis.
  • Full year 2022 adjusted EPS is estimated to be in the range of $1.71 to $1.74.
  • Fourth quarter 2022 net sales growth is estimated to be in the range of 2% to 4% on a reported basis.

Challenges Ahead

  • Fourth quarter 2022 net sales growth is estimated to be in the range of 7% to 9% on an organic basis.
  • Fourth quarter 2022 EPS is estimated to be in the range of $0.23 to $0.28 on a GAAP basis.
  • Fourth quarter 2022 adjusted EPS is estimated to be in the range of $0.45 to $0.48.
  • The company's estimates are subject to various risks.
  • The company's estimates exclude the impact of foreign currency fluctuations and certain acquisitions/divestitures.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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