Boston Scientific rose nearly 2% in premarket trading after posting its financial results.
Its Q1 Non-GAAP EPS of $0.47 beats by $0.04, revenue was $3.39B (+11.9% Y/Y) beats by $230M, 14.9 percent on an operational basis; and 14.0 percent on an organic basis, compared to the company's guidance range of 6 to 8 percent, all compared to the prior year period.
The company now estimates net sales growth for the full year 2023, versus the prior year period, to be approximately 8.5 to 10.5 percent on a reported basis, and approximately 8 to 10 percent on an organic basis. Full year organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales. The company now estimates EPS on a GAAP basis in a range of $0.93 to $1.02 and estimates adjusted EPS, excluding certain charges (credits), of $1.90 to $1.96 vs. $1.91 consensus.
The company estimates net sales growth for the second quarter of 2023, versus the prior year period, to be in a range of approximately 6.5 to 8.5 percent on a reported basis, and approximately 7 to 9 percent on an organic basis. Second quarter organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales. The company estimates EPS on a GAAP basis in a range of $0.23 to $0.27 and adjusted EPS, excluding certain charges (credits), of $0.48 to $0.50 vs. $0.48 consensus.
