Boston Scientific Q1 Adj. EPS Misses View, But Sales Top - Quick Facts

(RTTNews) - Medical devices company Boston Scientific Corp. (BSX) reported net income for the first quarter of $11 million or $0.01 per share, sharply down from $424 million or $0.30 per share a year ago, and achieved adjusted earnings per share of $0.28 for the period, compared to $0.35 a year ago.

Net sales for the quarter grew 2 percent to$2.54 billion from last year and 3.2 percent on an operational basis and a decline of 2.9 percent on an organic2 basis.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share on net sales of $2.52 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company said it is unable to estimate the overall impacts on its operations and financial results for the remainder of 2020, due to the uncertain scope and duration of the COVID-19 pandemic, timing of global recovery and economic normalization.

On March 30, 2020, the company withdrew its sales and EPS guidance for the full year 2020, originally provided on February 5, 2020.