Medical device maker Boston Scientific Corporation (NYSE: BSX) reported financial results for the first quarter of 2023. The company also provided guidance for the second quarter and fiscal 2023.
- First-quarter net sales increased 12% year-over-year on a reported basis to $3.39 billion
- Net income attributable to stockholders was $300 million or $0.21 per share, compared to $97 million or $0.07 per share last year
- Adjusted earnings, excluding one-off items, increased to $0.47 per share in the three-month period from $0.39 per share in the year-ago quarter
- The management expects net sales to increase between 6.5% and 8.5%, on a reported basis, in the second quarter
- Reported profit is expected to be in the range of $0.23 per share to $0.27 per share in the June quarter
- The guidance for adjusted second-quarter earnings per share is $0.48-$0.50
- In the full fiscal year, net sales are expected to grow in the range of 8.5% to 10.5%