Boston Scientific Earnings Show Strong Sales Growth and Continued Global Expansion
Net Sales Growth: Boston Scientific achieved net sales of $4.209 billion, with a 19.4% increase on a reported basis, 19.5% operational growth, and 18.2% organic growth compared to Q3 2023.
GAAP Net Income and Adjusted EPS: The company posted GAAP net income of $469 million or $0.32 per share, which was below their guidance range. However, the adjusted EPS was $0.63, exceeding the guidance range of $0.57 to $0.59 and showing an improvement from $0.50 in Q3 2023.
Operating Margin: Reported operating margin was 17.4%, with an adjusted operating margin of 27.2%, representing a 110 basis point increase year-over-year.
Segment and Regional Sales Growth: Cardiovascular segment sales increased by 25%, with Electrophysiology leading at 177% growth. MedSurg saw a 10.3% increase. Regionally, U.S. sales grew by 23.5%, Europe, Middle East, and Africa (EMEA) by 15.2%, Asia-Pacific (APAC) by 12.1%, and Emerging Markets by 15.2% reported growth.
Q4 2024 Guidance: The company expects net sales growth of 16.5%-18.5% and adjusted EPS between $0.64 and $0.66 for Q4 2024.
Key Developments: Boston Scientific received FDA approval for new medical technologies, CE mark approval for the ACURATE Prime™ Aortic Valve System in Europe, and completed the acquisition of Silk Road Medical, further enhancing its portfolio in stroke prevention.
