Categories AlphaGraphs, Earnings, Health Care, LATEST

Boston Scientific (BSX) Q3 earnings beat on 13% sales growth; stock gains

Earnings of medical device maker Boston Scientific Corporation (NYSE: BSX) increased and topped expectations in the third quarter, aided by a 13% growth in sales. The top-line also exceeded expectations. The company issued guidance for the fourth quarter and raised full-year earnings outlook. The stock moved up 4% during Wednesday’s premarket trading, following the announcement.

Boston Scientific (BSX) Q3 earnings beat on 13% sales growth
Boston Scientific Corporation Q3 2019 earnings infographic

Adjusted earnings rose to $0.39 per share from $0.35 per share last year, beating the Street view. Net income was $126 million or $0.09 per share, compared to $432 million or $0.31 per share in the third quarter of 2018.

Also see: Retail space gets busy as firms see opportunity in healthcare

“Our third quarter results reflect accelerated growth fueled by several key product launches, excellent regional performance and the broad strength of our core portfolio, and we continue to invest in building a robust pipeline,” said Mike Mahoney, CEO of Boston Scientific.

Net sales grew by 13.1% annually to $2.7 billion. Analysts were looking for a slower growth. The company achieved revenue growth in all segments with MedSurg increasing by 13.2% and Cardiovascular rising 11.3%. On a organic basis, total sales were up 9.3%.

Encouraged by the positive results, the management currently forecasts 13-15% revenue growth for the fourth quarter, when earnings are expected to be in the range of $0.22 per share to $0.25 per share. The estimate for adjusted earnings is $0.42- $0.45 per share.

For the whole of 2019, the management predicts 9-9.5% revenue growth. It is looking for full-year earnings in the range of $0.72 per share to $0.75 per share. Adjusted profit is expected to be between $1.55 per share and $1.58 per share, the midpoint of which is slightly above the previous estimate.

Related: Boston Scientific Q2 2019 Earnings Call Transcript

Boston Scientific shares gained 11% since the beginning of the year and 7% in the past twelve months. Following the earnings announcement, the stock gained early Wednesday, after closing the previous session lower.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

Trxade will focus more on core biz, connect with POS systems: CEO Suren Ajjarapu

Trxade Health Inc. (NASDAQ: MEDS) has been on a mission to digitalize the retail pharmacy experience by providing a platform for independent pharmacies to operate efficiently. While expanding its customer

TTWO Earnings: Take-Two Interactive slips to a loss in Q1; revenue up 36%

Gaming company Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced first-quarter 2023 results Monday after the closing bell, reporting a 36% revenue growth. First-quarter revenues rose 36% annually to $1.1 billion

Tyson Foods (TSN): Strong demand for beef and price hikes in chicken fuel Q3 top line growth

Shares of Tyson Foods Inc. (NYSE: TSN) plunged 9% on Monday after the company delivered mixed results for the third quarter of 2022. Revenues beat estimates while profits missed expectations.

Add Comment
Viewing Highlight