24 Apr

ABT and BSX: What to Expect from 2019 EPS

WRITTEN BY Margaret Patrick

EPS guidance

In its first-quarter earnings conference call, Abbott Laboratories (ABT) has guided for non-GAAP EPS of $3.15–$3.25 for fiscal 2019, a YoY mid-teen rise at the midpoint on a CC (constant currency) basis. In its first-quarter earnings press release, the company guided for net specified items worth $1.20 per share in fiscal 2019. The company has also guided for fiscal 2019 GAAP EPS of $1.95–$2.05.

In its first-quarter earnings conference call, Abbott Laboratories has guided for non-GAAP EPS of $0.79–$0.81 driven by double-digit underlying growth but partly offset by unfavorable foreign exchange movements. The company has forecasted net specified items of $0.32 per share and GAAP EPS of $0.47–$0.49 for the second quarter.

ABT and BSX: What to Expect from 2019 EPS

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In its fourth-quarter earnings conference call, Boston Scientific (BSX) guided for adjusted EPS in the range of $1.53–$1.58 for fiscal 2019, which is a YoY rise of 9%–13%. The company doesn’t expect foreign exchange movements to affect its GAAP EPS performance in fiscal 2019. The company also expects its GAAP EPS to fall in the range of $1.13–$1.18.

Wall Street projections

Analysts expect Abbott Laboratories’ non-GAAP EPS to rise YoY by 11.72% to $3.22 in fiscal 2019, 12.05% to $3.61 in fiscal 2020, and 11.35% to $4.01 in fiscal 2021. On the other hand, analysts expect Boston Scientific’s non-GAAP EPS to rise YoY by 6.31% to $1.56 in fiscal 2019, 15.18% to $1.80 in fiscal 2020, and 12.08% to $2.02 in fiscal 2021.

Analysts expect Abbott Laboratories’ non-GAAP EPS to rise YoY by 9.84% to $0.80 in the second quarter, 13.65% to $0.85 in the third quarter, and 15.71% to $0.94 in the fourth quarter. On the other hand, analysts expect Boston Scientific’s non-GAAP EPS to rise YoY by 7.84% to $0.36 in the first quarter, -4.75% to $0.39 in the second quarter, 10.49% to $0.39 in the third quarter, and 9.45% to $0.43 in the fourth quarter.

While Abbott Laboratories is expected to report higher absolute non-GAAP EPS, Boston Scientific is expected to report a higher non-GAAP EPS compound average growth rate from fiscal 2019 to fiscal 2021.

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