Boston Scientific Boosts FY24 Outlook - Update

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(RTTNews) - While reporting financial results for the third quarter on Wednesday, medical devices company Boston Scientific Corp. (BSX) raised its adjusted earnings and sales growth guidance for the full-year 2024. The company also provided forecast for the fourth quarter.

For fiscal 2024, the company now projects earnings in a range of $1.28 to $1.30 per share and adjusted earnings in a range of $2.45 to $2.47 per share on net sales growth of about 16.5 percent, with organic net sales growth of 15 percent.

Previously, the company expected earnings in the range of $1.34 to $1.38 per share and adjusted earnings in the range of $2.38 to $2.42 per share on net sales growth of about 13.5 to 14.5 percent, with organic net sales growth of 13 to 14 percent.

On average, 32 analysts polled by Thomson Reuters expect earnings of $2.41 per share on revenue growth of 14.4 percent to $16.29 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company estimates earnings in a range of $0.41 to $0.43 per share and adjusted earnings in a range of $0.64 to $0.66 per share on net sales growth of about 16.5 to 18.5 percent, with organic net sales growth of 14 to 16 percent.

Analysts expect earnings of $0.64 per share on revenue growth of 14.9 percent to $4.28 billion for the quarter.

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