Boston Scientific Issues Guidance

(RTTNews) - Boston Scientific Corporation (BSX) said the company now expects full year 2023 net sales growth to be approximately 11 percent on both a reported basis and organic basis. The company now estimates EPS on a GAAP basis in a range of $1.00 to $1.04 and adjusted EPS, excluding certain items, in a range of $1.99 to $2.02.

The company estimates net sales growth for the fourth quarter to be in a range of approximately 9 to 11 percent on a reported basis, and approximately 8 to 10 percent on an organic basis. The company estimates EPS on a GAAP basis in a range of $0.26 to $0.30 and adjusted EPS, excluding certain items, in a range of $0.49 to $0.52.

Third quarter earnings totaled $505 million, or $0.34 per share compared with $174 million, or $0.12 per share, in last year's third quarter. Adjusted EPS was $0.50, compared to $0.43 a year ago. Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter rose 11.4% to $3.53 billion from $3.17 billion last year. Net sales were up 11.2 percent on a reported basis, rose 11.1 percent on an operational basis and increased 10.2 percent on an organic basis.

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