Boston Scientific Corporation (BSX) reported better-than-expected first-quarter earnings and issued improved guidance, sending its stock price soaring on Wednesday. The company’s first-quarter revenues reached $3.86 billion, outperforming the consensus estimate of $3.69 billion. Sales experienced significant growth across all segments, with the cardiovascular segment leading the way with an increase of over $2.4 billion. The company’s cardiovascular segment led the way with more than $2.4 billion in sales, rising 15.9%. MedSurg also saw significant growth, with revenues of more than $1.4 billion, up 10.3%. Cardiology sales (16.5% growth) led the way for Cardiovascular and Endoscopy (11.4%) led MedSurg. “Our exceptional results this quarter were fueled by our talented global team and the strength of our diversified businesses and pipeline, including the initial U.S. launch of the FARAPULSE Pulsed Field Ablation System,” said Mike Mahoney, chairman and CEO. Boston Scientific forecasts net sales growth for 2024 of 11%-13% on a reported basis and 10%-12% on an organic basis compared to prior guidance of approximately 8.5%-9.5% and 8%-9%, respectively. Boston Scientific sees 2024 adjusted EPS of $2.29-$2.34 , versus prior guidance of $2.23-$2.27 and the consensus of $2.25. For the second quarter, the company estimates net sales growth of approximately 10.5%-12.5% Y/Y on a reported basis and approximately 10%-12% on an organic basis. The company forecasts adjusted EPS of $0.57-$0.59 versus a consensus of $0.56.
BSX shares surged 6.02% to $73.15 on Wednesday, reflecting investors’ confidence in the company’s strong performance and positive outlook.
Boston Scientific Surpasses Q1 Earnings Estimates, Raises Guidance
