Boston Scientific meets The Street with Q3 earnings, tops sales forecast

Boston Scientific (NYSE:BSX) today posted third-quarter earnings that met the consensus expectation on Wall Street and beat analysts’ sales forecast.

Marlborough, Mass.-based Boston Scientific reported profits of $283 million, or 20¢ per share, on sales of $2.22 billion for the three months ended Sept. 30, for a bottom-line gain of 24.1% on sales growth of 5.6% compared with Q3 2016.

Adjusted to exclude one-time items, earnings per share were 31¢, in line with The Street, where analysts were looking for sales of $2.21 billion.

“Our global team is delivering strong performance as we continue to invest in a deep and innovative portfolio and expand into faster-growing markets,” chairman & CEO Mike Mahoney said in prepared remarks. “We are grateful for our employees’ commitment and winning spirit, particularly our team in Puerto Rico, which is working hard to address customer and patient needs in the wake of the recent hurricanes.”

Boston Scientific said it’s resumed operations at its plant in Dorado, Puerto Rico, and established a $2 million charitable fund to assist with the recovery there.

The company raised the low end of its full-year adjusted earnings guidance to $1.24 to $1.27, up from $1.23 to $1.27 previously, and boosted its sales outlook to $8.985 billion to $9.015 billion from prior guidance of $8.890 billion to $8.990 billion.

Fourth-quarter adjusted EPS are pegged at 32¢ to 35¢ on sales of $2.345 billion to $2.375 billion, Boston Scientific said.

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