- Boston Scientific Corp BSX generated net sales of $3.17 billion in the third quarter of fiscal 22slightly beating Wall Street’s estimate of $3.15 billion.
- Revenue increased 8.1% y/y on a reported basis, 13.7% on an operating basis and 11.5% on an organic basis.
- The company posted adjusted earnings per share of $0.43, missing the consensus of $0.44.
- MedSurg revenue increased 6.5% to $1.213 billion (9.8% organic), Cardiovascular segment generated $1.958 billion, +9.1% (12.6% organic).
- Adjusted gross margin was flat at nearly 71%, with an adjusted operating income margin of 26%.
- Outlook: Boston Scientific estimates FY22 revenue growth of about 6.5% on a published basis (6.5% to 7.5% previously) and about 9% on an organic basis.
- The company now estimates adjusted earnings per share at between $1.71 and $1.74 (previous range of $1.74 – $1.77) compared to the consensus of $1.76.
- For Q4 FY22, the company is forecasting revenue growth of 2% to 4% on a reported basis and about 7% to 9% on an organic basis.
- It projects adjusted earnings per share of $0.45 to $0.48 compared to consensus of $0.49.
- Price promotion: BSX shares are up 1.09% to $41.75 during the market session last check Wednesday.
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