Released on October 26, 2023, Boston Scientific Corp (BSX, Financial)'s Q3 2023 earnings report shows a strong financial performance with net sales of $3.527 billion, marking an 11.2% growth on a reported basis compared to the same period last year. The company's GAAP net income attributable to Boston Scientific common stockholders was $505 million or $0.34 per share, a significant increase from $174 million or $0.12 per share a year ago. The adjusted EPS for the period was $0.50, compared to $0.43 a year ago.
Performance Highlights
Boston Scientific Corp (BSX, Financial) reported strong performance across all sectors and regions. The MedSurg segment reported a 10.6% growth, while the Cardiovascular segment reported an 11.6% growth. Region-wise, the United States reported an 8.5% growth, Europe, Middle East, and Africa reported a 14.7% growth, Asia-Pacific reported a 14.8% growth, and Latin America and Canada reported a 22.0% growth.
Key Developments
The company announced positive 12-month results from the ADVENT pivotal clinical trial of the FARAPULSEâ„¢ Pulsed Field Ablation (PFA) System, which met the primary safety and efficacy endpoints. Boston Scientific also received U.S. FDA approval for the POLARxâ„¢ Cryoablation System and the latest-generation WATCHMAN FLXâ„¢ Pro Left Atrial Appendage Closure (LAAC) Device.
Financial Outlook
For the full year 2023, the company estimates net sales growth to be approximately 11% on both a reported basis and organic basis. The company estimates EPS on a GAAP basis in a range of $1.00 to $1.04 and estimates adjusted EPS, excluding certain charges (credits), of $1.99 to $2.02.
Conference Call Information
Boston Scientific management will be discussing these results with analysts on a conference call today at 8:00 a.m. ET. The company will webcast the call to interested parties through its website: investors.bostonscientific.com.
Explore the complete 8-K earnings release (here) from Boston Scientific Corp for further details.
