Boston Scientific reports its Q2 2018 earnings
Boston Scientific (BSX) announced its earnings results for the second quarter on July 25. BSX reported sales of $2.49 billion, up ~10.3% on a YoY (year-over-year) basis. The company’s adjusted diluted EPS reached $0.41, representing YoY growth of ~28.0%.
The company’s sales and adjusted diluted EPS beat Wall Street estimates of $2.46 billion and $0.34, respectively. BSX’s sales came in ahead of its guidance range of $2.45 billion–$2.5 billion. The adjusted diluted EPS reported for the second quarter surpassed the company’s guidance range of $0.33–$0.35.
On July 25, BSX stock rose ~2.0% on strong second-quarter results. BSX stock was up ~4.3% in pre-market trading. The iShares US Medical Devices ETF (IHI) was trading ~1.1% higher on the day.
Segment-wise sales performance
Boston Scientific (BSX) registered operational sales growth of 8.6% in the second quarter, and its organic sales growth came in at ~7.9%. The company’s MedSurg business reported sales growth of ~9.0% on an operational and organic basis. Its Rhythm and Neuro segment’s sales also rose ~9.0% on a YoY basis. BSX’s Cardiovascular business registered sales growth of ~6.2% in the second quarter.
Boston Scientific reported sales growth across all geographies in the second quarter. The company’s US sales were up ~7.9% while its EMEA (Europe, the Middle East, and Africa) and APAC (Asia-Pacific) businesses reported operational sales growth of 9.6% and 8.7%, respectively. The company’s emerging markets sales registered a rise of ~21.1%.
Updated fiscal 2018 guidance
Boston Scientific (BSX) updated its fiscal 2018 guidance during its second-quarter earnings release. The company has a fiscal sales guidance range of $9.8 billion–$9.88 billion, compared to its previous guidance range of $9.75 billion–$9.9 billion.
The company maintained its adjusted EPS guidance range of $1.37–$1.41 for fiscal 2018. However, its GAAP EPS guidance range was increased by the company to $0.99–$1.03, compared to the previous guidance range of $0.90–$0.94.
Check out all the data we’ve added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend information. Take a look!