J.P. Morgan Comments On BSX 1Q, Anticipates 8AM Call

J.P. Morgan reports that Boston Scientific BSX reported 1Q results Wednesday night, with sales of $1.925B (-1.8% reported, -0.7% organic) coming in $30M ahead of the Street “and $18M above our own forecast, due in large part to currency.” “The big story in the quarter, though, is down the income statement, where adjusted EPS of $0.22 (+33%) came in $0.10 higher than our expectation and notably above management's own cash EPS guidance of $0.07-$0.10,” J.P. Morgan writes. “We expect much of Thursday's 8am EST call to focus on the moving parts within the quarter and the sustainability of the company's dramatic expense reductions in the face of little to no top-line growth.” Boston Scientific closed Wednesday at $7.08.