BSX Stock Up on Strong Q2 2018 Results, Beats Estimates



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.

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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.

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