Boston Scientific Adjusts FY19 Outlook, Issues Weak Q2 Guidance - Quick Facts

(RTTNews) - While reporting financial results for the first quarter, Boston Scientific Corp. (BSX) on Wednesday adjusted its earnings and revenue growth guidance for the full-year 2019 and also provided outlook for the second quarter below estimates.

For fiscal 2019, the company now estimates earnings in a range of $1.09 to $1.13 per share and adjusted earnings in a range of $1.54 to $1.58 per share. Previously, the company projected earnings in a range of $1.13 to $1.18 per share and adjusted earnings in a range of $1.53 to $1.58 per share.

Revenue growth for the full year is now projected in a range of about 7 to 8 percent, compared to prior guidance of 7 to 9 percent. Organic revenue growth in now expected in a range of about 7 to 8 percent, compared to prior guidance of 7 to 8.5 percent.

On average, analysts polled by Thomson Reuters expect earnings of $1.56 per share on revenue growth of 8.8 percent to $10.69 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company estimates earnings in a range of $0.23 to $0.25 per share and adjusted earnings, excluding certain charges (credits), in a range of $0.37 to $0.39 per share. It anticipates revenue growth of about 5 to 7 percent and organic revenue growth of about 6 to 7 percent.

Analysts expect earnings of $0.39 per share on revenue growth of 7.5 percent to $2.68 billion for the quarter.

"With our strong pipeline and category leadership strategy, we are confident in our top tier 2019 outlook and how we can help improve outcomes for patients around the world for years to come," said Mike Mahoney, chairman and chief executive officer of Boston Scientific.