Boston Scientific Corp BSX generated Q3 revenues of $3.53 billion, beating the Wall Street estimate of $3.48 billion.
The sales increased 11.2% on a reported basis, 11.1% on an operational basis, and 10.2% on an organic basis, beating the management of approximately 8.5% - 10.5% (7% - 9% organic).
The company earned an adjusted EPS of $0.50, beating the consensus of $0.48 and management estimate of $0.46 - $0.48.
Revenues from MedSurg increased 10.6% to $1.34 billion (9.4% organic), and the Cardiovascular segment generated $2.19 billion, +11.6% (10.6% organic).
The adjusted gross margin was 70.17%, down from 70.66%, and the adjusted operating margin expanded from 25.55% to 26.06%.
Outlook: Boston Scientific revises FY23 revenue growth guidance to 11% (on the reported basis and organic basis) versus prior guidance of 10.5%-11.5% and 10%-11%, respectively.
The company forecasts adjusted EPS of $1.99 - $2.02 versus the consensus of $2.00 and the prior guidance of $1.96 - $2.00.
For Q4, the company expects revenue growth of 9%-11% (reported) and 8%-10% (organic), with adjusted EPS of $0.49-$0.52 and consensus of $0.52.
Price Action: BSX shares are up 0.35% at $50.17 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.