Boston Scientific Issues Q3 Outlook; Cuts FY22 Earnings, Sales Growth View - Update

(RTTNews) - While announcing higher second-quarter results, Boston Scientific Corp. (BSX), a medical technology company, on Wednesday issued third-quarter earnings and sales growth view. Further, the company trimmed its forecast for fiscal 2022.

For the third quarter, the company estimates reported earnings per share in a range of $0.20 to $0.24 and adjusted earnings per share in a range of $0.43 to $0.45.

On average, eight analysts polled by Thomson Reuters expected earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Boston Scientific estimates third-quarter net sales growth in a range of approximately 6 to 8 percent on a reported basis, and approximately 8 to 10 percent on an organic basis.

Further, for fiscal 2022, the company now estimates reported earnings per share in a range of $0.69 to $0.76 and adjusted earnings per share in a range of $1.74 to $1.77. Analysts expect earnings of $1.76 per share for the year.

The company now estimates full-year net sales growth in a range of approximately 6.5 to 7.5 percent on a reported basis, and approximately 8 to 9 percent on an organic basis.

Boston Scientific previously expected full-year reported earnings of $0.78 to $0.88 a share and adjusted earnings of $1.74 to $1.79 per share. Sales were expected to grow 7 to 9 percent on a reported basis and about 6.5 to 8.5 percent on an organic basis.