Boston Scientific Earnings Exceed Expectations As Demand Picks Up, Raises FY21 Guidance - Boston Scientif

Boston Scientific Corporation (NYSE:BSX) generated net sales of $3.1 billion in Q2 of 2021, beating the estimate of $2.9 billion.
Sales increased 53.6% Y/Y on a reported basis and 52.4% on an organic basis, exceeding the company's guidance of 46%-50% and 44%-48%, respectively.
Adjusted EPS of $0.40 also beat the consensus of $0.37, exceeding the guidance of $0.36 to $0.38.
Revenues from MedSurg increased 64.6% to $948 million (60.7% organic), Rhythm and Neuro increased 65% to $866 million (51.4% organic), and Cardiovascular segment generated $1.7 billion, +51.4% (47.2% organic).
The gross margin expanded from 60.5% to 69.3%. It posted an operating income of $262 million, compared to an operating loss of $(71) million a year ago.
FY21 Guidance: BSX sees adjusted EPS of $1.58-$1.62 ($1.58 consensus) higher than the prior $1.53 to $1.60 guidance.
It estimates revenue growth of approximately 21% - 22% on a reported basis and 19% - 20% organically, compared to 16% - 19% and 15% - 18%, respectively, earlier guidance.
For Q3, BSX expects an adjusted EPS of $0.39 - $0.41 in line with a consensus of $0.40.
Price Action: BSX shares are up 1.21% at $44.50 during the premarket session on the last check Tuesday.

To add Benzinga News as your preferred source on Google, click here.