Boston Scientific Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Wednesday, medical devices company Boston Scientific Corp. (BSX) raised its adjusted earnings and sales growth guidance for the full-year 2024.

For fiscal 2024, the company now projects earnings in a range of $1.34 to $1.38 per share and adjusted earnings in a range of $2.38 to $2.42 per share on net sales growth of about 13.5 to 14.5 percent, with organic net sales growth of 13 to 14 percent.

Previously, the company expected earnings in the range of $1.43 to $1.48 per share and adjusted earnings in the range of $2.29 to $2.34 per share on net sales growth of about 11 to 13 percent, with organic net sales growth of about 10 to 12 percent.

On average, analysts polled by Thomson Reuters expect earnings of $2.33 per share on revenue growth of 12.4 percent to $16.00 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company estimates earnings in a range of $0.36 to $0.38 per share and adjusted earnings in a range of $0.57 to $0.59 per share on net sales and organic net sales growth of about 13.5 to 14.5 percent.

Analysts expect earnings of $0.57 per share on revenue growth of 12.2 percent to $3.96 billion for the quarter.

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