Boston Scientific Boosts FY21 Outlook, Sees Q2 Above View - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, medical devices company Boston Scientific Corp. (BSX) raised its earnings, adjusted earnings and revenue growth guidance for the full-year 2021 and provided the same outlook for the second quarter.

For fiscal 2020, the company now projects earnings in a range of $0.81 to $0.88 per share and adjusted earnings in a range of $1.53 to $1.60 per share on revenue growth in a range of about 16 to 19 percent and organic revenue growth of about 15 to 18 percent.

Previously, the company expected earnings in the range of $0.72 to $0.82 per share and adjusted earnings in the range of $1.50 to $1.60 per share on revenue growth in the range of about 13 to 19 percent and organic revenue growth of about 12 to 18 percent.

On average, analysts polled by Thomson Reuters expect earnings of $1.54 per share on revenue growth of 15.30 percent to $11.43 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company estimates earnings in a range of $0.16 to $0.18 per share and adjusted earnings, excluding certain charges (credits), in a range of $0.36 to $0.38 per share. It anticipates revenue growth of about 46 to 50 percent and organic revenue growth of about 44 to 48 percent.

Analysts expect earnings of $0.35 per share on revenue growth of 37.70 percent to $2.67 billion for the quarter.

"Our global team remains committed to helping patients and our customers by delivering a robust portfolio of innovative solutions, and that commitment will continue to fuel our future growth," said Mike Mahoney, chairman and chief executive officer.