https://assets.capyfin.com/instruments/678fdc13234e27009c5d5cca.png avatar
Boston Scientific
🇺🇸 NYSE:BSX
View Company
OverviewEarningsDividends
•
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.

Total Revenue
$2.71B
Previous year: $2.91B
-6.8%
EPS
$0.23
Previous year: $0.46
-50.0%
MedSurg Organic Revenue Growth
1.1%
Previous year: 10.6%
-89.6%
Cardio Organic Revenue Growth
-13.5%
Previous year: 10%
-235.0%
Gross Profit
$1.71B
Previous year: $2.04B
-16.2%
Cash and Equivalents
$1.73B
Previous year: $217M
+699.1%
Free Cash Flow
$514M
Previous year: $506M
+1.6%
Total Assets
$30.8B
Previous year: $30.6B
+0.7%

Boston Scientific

Boston Scientific

Boston Scientific Revenue by Segment

Boston Scientific 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.
  • The guidance includes net sales of the Specialty Pharmaceuticals business through the first quarter of 2021.
  • The guidance excludes the previously announced acquisition of Preventice Solutions, Inc.
  • Income on a GAAP basis in a range of $0.72 to $0.82 per share.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Boston Scientific