Boston Scientific Boosts FY23 Adj. EPS, Sales Growth Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Wednesday, medical devices company Boston Scientific Corp. (BSX) raised its adjusted earnings and net sales growth guidance for the full-year 2023.

For fiscal 2023, the company now projects earnings in a range of $0.93 to $1.02 per share and adjusted earnings in a range of $1.90 to $1.96 per share on net sales growth of about 8.5 to 10.5 percent, with organic net sales growth of 8 to 10 percent.

Previously, the company expected earnings in a range of $1.11 to $1.21 per share and adjusted earnings in a range of $1.86 to $1.93 per share on net sales growth of about 5 to 7 percent, with organic net sales growth of about 6 to 8 percent.

On average, analysts polled by Thomson Reuters expect earnings of $1.91 per share on revenue growth of 6.8 percent to $13.55 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 $0.27 per share and adjusted earnings in a range of $0.48 to $0.50 per share on net sales growth of about 6.5 to 8.5 percent, with organic net sales growth of about 7 to 9 percent.

Analysts expect earnings of $0.48 per share on revenue growth of 6.0 percent to $3.44 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.