Boston Scientific Boosts FY24 Outlook

 While reporting financial results for the first quarter on Wednesday, medical devices company Boston Scientific Corp. (BSX) raised its adjusted earnings and net sales growth guidance for the full-year 2024.

For fiscal 2024, the company now projects earnings in a range of $1.43 to $1.48 per share and adjusted earnings in a range of $2.29 to $2.34 per share on net sales growth of about 11 to 13 percent, with organic net sales growth of 10 to 12 percent.

Previously, the company expected earnings in a range of $1.38 to $1.42 per share and adjusted earnings in a range of $2.23 to $2.27 per share on net sales growth of about 8.5 to 9.5 percent, with organic net sales growth of about 8 to 9 percent.

On average, analysts polled by Thomson Reuters expect earnings of $2.25 per share on revenue growth of 9.4 percent to $15.58 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company estimates earnings in a range of $0.35 to $0.37 per share and adjusted earnings in a range of $0.57 to $0.59 per share on net sales growth of about 10.5 to 12.5 percent, with organic net sales growth of about 10 to 12 percent.

Analysts expect earnings of $0.56 per share on revenue growth of 9.2 percent to $3.93 billion for the quarter.

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