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Dec 31, 2020
Boston Scientific Q4 2020 Earnings Report
Boston Scientific's Q4 2020 earnings declined due to the impact of the WATCHMAN conversion and the voluntary recall of the LOTUS Edge Aortic Valve System, but the company is optimistic about growth in 2021.
Key Takeaways
Boston Scientific reported Q4 2020 net sales of $2.708 billion, a decrease of (6.8) percent compared to the prior year period. GAAP net income available to common stockholders was $138 million, or $0.10 per share, while adjusted EPS was $0.23. The results were impacted by the WATCHMAN conversion and the LOTUS Edge recall.
Net sales decreased by (6.8)% on a reported basis, (8.3)% on an operational basis, and (8.0)% on an organic basis compared to Q4 2019.
GAAP net income available to common stockholders was $0.10 per share, down from $2.83 per share in Q4 2019.
Adjusted EPS was $0.23, compared to $0.46 in the prior year period.
The company provided revenue growth guidance for Q1 2021 of 0 to 6 percent on a reported basis and (3) to 3 percent on an organic basis.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Boston Scientific provided guidance for the first quarter and full year 2021, including revenue growth and earnings per share estimates.
Positive Outlook
- Revenue growth for the first quarter of 2021 is estimated to be in a range of approximately 0 to 6 percent on a reported basis.
- Revenue growth for the first quarter of 2021 is estimated to be in a growth range of approximately (3) to 3 percent on an organic basis.
- Earnings on a GAAP basis in a range of $0.05 to $0.11 per share.
- Adjusted earnings, excluding certain charges (credits) in a range of $0.28 to $0.34 per share.
- Revenue growth for the full year 2021 is estimated to be in a range of approximately 13 to 19 percent on a reported basis.
Challenges Ahead
- Revenue growth for the full year 2021 is estimated to be in a growth range of approximately 12 to 18 percent on an organic basis.
- The guidance excludes the impact of foreign currency fluctuations and the divestiture of our intrauterine health franchise.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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