Boston Scientific Q2 Earnings: Strong Performance Of Cardiovascular Devices Leads To 2024 Guidance Hike Again

Boston Scientific Corporation BSX generated second-quarter revenues of $4.12 billion, beating the consensus estimate of $4.02 billion.

Sales increased 14.5% on a reported basis, compared to the company’s guidance range of 10.5%-12.5% and 16.1% on an operational basis, 14.7% on an organic basis, compared to the company’s guidance range of 10%-12%.

The company earned an adjusted EPS of $0.62, beating the consensus of $0.58 and the management guidance of $0.57-$0.59.

Related: Boston Scientific’s Upside With Cardiology Devices Drives Momentum.

The company’s cardiovascular segment generated sales of $2.64 billion, rising 17.8% (19.7% operationally and 19% organically).

Boston Scientific reported 20.1% growth for cardiology products and 10.2% growth in peripheral interventions.

MedSurg segment revenues increased 9% to $1.48 billion (10.1% operationally and 7.6% organically).

Neuromodulation led the way with a 15.5% increase. Urology (8.2%) and Endoscopy (7.1%) followed.

Outlook: Boston Scientific forecasts net sales growth for 2024 of approximately 13.5%-14.5% on a reported basis and 13%-14% on an organic basis, compared to prior guidance of 11%-13% and 10%-12%, respectively.

Boston Scientific estimates 2024 adjusted EPS of $2.38-$2.42 compared to prior guidance of $2.29-$2.34 and consensus of $2.33.

For the third quarter, the company estimates net sales growth of 13%-14% on a reported and organic basis.

The company forecasts adjusted EPS of $0.57-$0.59 versus a consensus of $0.57.

Price Action: BSX stock was trading lower by 1.95% at $77.05 at the last check on Wednesday.

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