Financial Data and Key Metrics Changes - In Q2 2024, Boston Scientific reported consolidated revenue of $4.120 billion, representing a 14.5% growth compared to Q2 2023, with operational revenue growth of 16.1% after excluding a foreign exchange headwind of 160 basis points [22][24] - Adjusted EPS for Q2 2024 was $0.62, a 15.4% increase from 2023, exceeding the guidance range of $0.57 to $0.59 [9][22] - Adjusted operating margin for Q2 was 27.2%, expanding 40 basis points year-over-year, with expectations to raise the full-year adjusted operating margin expansion goal to 50 to 70 basis points [24][28] Business Line Data and Key Metrics Changes - The electrophysiology (EP) business saw organic sales growth of 125% in Q2, driven by the FARAPULSE PFA System [19] - Cardiology organic sales grew 22%, with interventional cardiology therapy sales increasing by 9% [16] - The urology business grew 9% organically, with strong performance in stone management and prosthetic urology [13] Market Data and Key Metrics Changes - U.S. operational sales grew 17% in Q2, with significant contributions from EP and med-surg businesses [11] - Europe experienced 16% operational growth, driven by double-digit growth in seven of eight business units [11] - Asia-Pacific grew 13% operationally, with high teens growth in China and double-digit growth in Japan [12] Company Strategy and Development Direction - The company aims to be the highest-performing med tech company in terms of sales and EPS growth, focusing on faster-growing markets and innovative product launches [32][34] - Boston Scientific is pursuing strategic acquisitions, including Silk Road Medical and SoundCath, to enhance its portfolio and market presence [26][63] - The company is committed to maintaining a strong product pipeline and clinical evidence generation to support its leadership in the electrophysiology market [20][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth through 2024 and into 2025, citing strong demand and market adoption for key products like FARAPULSE and WATCHMAN [31][34] - The company anticipates continued strong performance across its portfolio, with expectations for organic growth of 13% to 14% for the full year 2024 [10][27] - Management highlighted the importance of clinical evidence and product differentiation in maintaining competitive advantages in the market [40][44] Other Important Information - The company expects full-year 2024 free cash flow to exceed $2 billion, with a focus on strategic M&A and share repurchases [25][26] - Adjusted gross margin for Q2 was 70.4%, with expectations for improvement in the second half of the year [23][28] Q&A Session Summary Question: Sustainability of growth and guidance for 2024 - Management indicated that the strong performance in Q2 is not just a pull forward of revenues but reflects better demand and market adoption, with a goal to distinguish itself in revenue growth and EPS [31][34] Question: Future product rollouts and growth - Management emphasized the importance of a strong product pipeline and clinical evidence to support ongoing growth, particularly in the EP and WATCHMAN markets [37][38] Question: Durability of EP growth and competition - Management expressed confidence in the sustainability of EP growth, citing the safety and efficacy of FARAPULSE and the potential for continued market share gains [40][42] Question: Impact of mapping integrated catheter on growth - Management confirmed that the upcoming launch of the FARAWAVE catheter and FARAVIEW software is expected to drive adoption and enhance workflow efficiency in EP procedures [46][48] Question: Insights on TAVR and upcoming data - Management clarified that the data from the TAVR trial will be presented at the ACC meeting in 2025, emphasizing the significance of the trial's findings [70][74]

Boston Scientific (BSX) reported $4.12 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 14.5%. EPS of $0.62 for the same period compares to $0.53 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $4.02 billion, representing a surprise of +2.51%. The company delivered an EPS surprise of +6.90%, with the consensus EPS estimate being $0.58.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Boston Scientific (BSX) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.90%. A quarter ago, it was expected that this medical device manufacturer would post earnings of $0.51 per share when it actually produced earnings of $0.56, delivering a surprise of 9.80%.Over the last four qua ...

Q2 2024 Highlights July 24, 2024 1 Q2 2024 Financial & Operational Highlights | July 24, 2024 Safe Harbor for Forward-Looking Statements and Use of Document Safe Harbor for forward-looking statements: This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forwardlooking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "may," "inten ...

[Second Quarter 2024 Financial Performance](index=1&type=section&id=Second%20Quarter%202024%20Financial%20Performance) Boston Scientific delivered robust financial results in Q2 2024, marked by significant net sales growth and increased adjusted EPS, exceeding prior guidance [Overall Performance Summary](index=1&type=section&id=Overall%20Performance%20Summary) Boston Scientific reported strong Q2 2024 results, exceeding guidance with net sales of $4.120 billion, representing 14.7% organic growth, and adjusted EPS grew to $0.62, up from $0.53 in the prior year, also surpassing company guidance Q2 2024 Key Financial Metrics | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | **Net Sales** | $4.120 billion | $3.599 billion | +14.5% (Reported) | | **Organic Sales Growth** | 14.7% | N/A | N/A | | **GAAP EPS** | $0.22 | $0.18 | +22.2% | | **Adjusted EPS** | $0.62 | $0.53 | +17.0% | - The company's performance significantly exceeded its guidance, with reported net sales growth of **14.5%** against a guidance of 10.5-12.5%, organic growth of **14.7%** against a guidance of 10-12%, and adjusted EPS of **$0.62** against a guidance of $0.57-$0.59[2](index=2&type=chunk) [Performance by Business Segment](index=1&type=section&id=Performance%20by%20Business%20Segment) The Cardiovascular segment was the primary growth driver with 19.0% organic growth, significantly outpacing the MedSurg segment's 7.6% organic growth, and within Cardiovascular, the Cardiology business grew 22.0% organically, showing exceptional strength Q2 2024 Net Sales Growth by Reportable Segment (vs. Q2 2023) | Segment | Reported Growth | Operational Growth | Organic Growth | | :--- | :--- | :--- | :--- | | **MedSurg** | 9.0% | 10.1% | 7.6% | | **Cardiovascular** | 17.8% | 19.7% | 19.0% | Q2 2024 Net Sales by Business (in millions) | Business | Q2 2024 Sales | Organic Growth | | :--- | :--- | :--- | | Endoscopy | $676 | 7.9% | | Urology | $525 | 9.1% | | Neuromodulation | $282 | 3.7% | | **Total MedSurg** | **$1,483** | **7.6%** | | Cardiology | $2,047 | 22.0% | | Peripheral Interventions | $590 | 9.4% | | **Total Cardiovascular** | **$2,637** | **19.0%** | [Performance by Geographic Region](index=1&type=section&id=Performance%20by%20Geographic%20Region) All regions demonstrated strong double-digit operational growth, led by Emerging Markets at 19.3% and the United States at 16.9%, with the U.S. remaining the largest market, contributing $2.466 billion in net sales Q2 2024 Net Sales Growth by Region (vs. Q2 2023) | Region | Q2 2024 Sales (millions) | Reported Growth | Operational Growth | | :--- | :--- | :--- | :--- | | **United States** | $2,466 | 16.9% | 16.9% | | **EMEA** | $822 | 13.7% | 16.1% | | **APAC** | $670 | 7.0% | 13.2% | | **LACA** | $162 | 15.3% | 15.7% | | **Emerging Markets** | $680 | 14.8% | 19.3% | [Recent Business Developments](index=2&type=section&id=Recent%20Business%20Developments) Boston Scientific advanced its portfolio through key product approvals, positive clinical trial outcomes, and strategic corporate acquisitions [Product Approvals and Launches](index=2&type=section&id=Product%20Approvals%20and%20Launches) The company achieved key regulatory milestones, including NMPA approval in China for the FARAPULSE™ PFA System and the AGENT™ Drug-Coated Balloon, and also initiated the U.S. launch of the AGENT™ balloon for treating in-stent restenosis - Received National Medical Products Administration (NMPA) approval in China for the FARAPULSE™ Pulsed Field Ablation (PFA) System, expanding its availability in a key market[3](index=3&type=chunk) - Initiated the U.S. launch of the AGENT™ Drug-Coated Balloon for treating in-stent restenosis in coronary artery disease patients and also received NMPA approval for the device in China[4](index=4&type=chunk) [Clinical Trial Data and Presentations](index=2&type=section&id=Clinical%20Trial%20Data%20and%20Presentations) Boston Scientific presented positive clinical data for several key products, including superior outcomes for the FARAPULSE PFA System compared to thermal ablation, favorable 30-day results from the FARADISE registry, and positive pivotal trial results for the Modular CRM (mCRM™) System - Presented data from the ADVENT clinical trial showing the FARAPULSE PFA System resulted in a significantly lower atrial arrhythmia burden (**<0.1%**) compared to thermal ablation[4](index=4&type=chunk) - The pivotal MODULAR ATP clinical trial for the Modular CRM (mCRM™) System, which includes the EMBLEM™ S-ICD and EMPOWER™ Leadless Pacemaker, met all pre-specified six-month safety and effectiveness endpoints[4](index=4&type=chunk) - Follow-up studies of the Intracept™ Intraosseous Nerve Ablation System demonstrated significant improvements in vertebrogenic pain, with **nearly one-third** of patients being **100% pain-free** after five years[5](index=5&type=chunk) [Corporate Developments](index=2&type=section&id=Corporate%20Developments) The company announced a strategic agreement to acquire Silk Road Medical, Inc. to enhance its stroke prevention portfolio, and additionally, Dr. Cheryl Pegus was elected to the board of directors - Announced an agreement to acquire Silk Road Medical, Inc., a company that commercialized a platform of products to prevent stroke in patients with carotid artery disease[5](index=5&type=chunk) - Dr. Cheryl Pegus, former partner at Morgan Health and EVP at Walmart, was elected to the company's board of directors[5](index=5&type=chunk) [Financial Outlook for 2024](index=4&type=section&id=Financial%20Outlook%20for%202024) Boston Scientific updated its financial guidance for both the full year and the third quarter of 2024, reflecting strong anticipated sales growth and adjusted EPS [Full Year 2024 Guidance](index=4&type=section&id=Full%20Year%202024%20Guidance) The company raised its full-year 2024 guidance, now expecting net sales growth of 13.5% to 14.5% on a reported basis and 13% to 14% organically, with adjusted EPS projected to be between $2.38 and $2.42 Full Year 2024 Guidance | Metric | Guidance Range | | :--- | :--- | | **Reported Net Sales Growth** | 13.5% to 14.5% | | **Organic Net Sales Growth** | 13.0% to 14.0% | | **GAAP EPS** | $1.34 to $1.38 | | **Adjusted EPS** | $2.38 to $2.42 | [Third Quarter 2024 Guidance](index=4&type=section&id=Third%20Quarter%202024%20Guidance) For Q3 2024, Boston Scientific anticipates net sales growth of 13% to 15% on both a reported and organic basis, projecting GAAP EPS of $0.36 to $0.38 and adjusted EPS of $0.57 to $0.59 Third Quarter 2024 Guidance | Metric | Guidance Range | | :--- | :--- | | **Reported Net Sales Growth** | 13.0% to 15.0% | | **Organic Net Sales Growth** | 13.0% to 15.0% | | **GAAP EPS** | $0.36 to $0.38 | | **Adjusted EPS** | $0.57 to $0.59 | [Financial Statements and Reconciliations](index=6&type=section&id=Financial%20Statements%20and%20Reconciliations) This section provides detailed unaudited consolidated financial statements and reconciliations of GAAP to non-GAAP financial measures for the reported period [Consolidated Statements of Operations (Unaudited)](index=6&type=section&id=Consolidated%20Statements%20of%20Operations%20%28Unaudited%29) The Q2 2024 income statement shows a gross profit of $2.850 billion on net sales of $4.120 billion, with operating income at $520 million and net income attributable to common stockholders at $324 million, or $0.22 per diluted share, up from $261 million or $0.18 per share in Q2 2023 Q2 2024 vs. Q2 2023 Statement of Operations (in millions, except EPS) | Line Item | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | **Net Sales** | $4,120 | $3,599 | | **Gross Profit** | $2,850 | $2,542 | | **Operating Income** | $520 | $514 | | **Net Income Attributable to BSX** | $324 | $261 | | **Diluted EPS** | $0.22 | $0.18 | [Non-GAAP Financial Measures Reconciliation](index=7&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) The company provides detailed reconciliations of GAAP to non-GAAP financial measures, with significant Q2 2024 adjustments to GAAP net income including amortization expense ($182 million), intangible asset impairment charges ($243 million), and acquisition/divestiture-related charges ($38 million), leading to an adjusted net income of $914 million attributable to common stockholders - Management uses non-GAAP measures like operational net sales, organic net sales, and adjusted EPS to evaluate performance, excluding items such as amortization, impairment charges, acquisition-related costs, and restructuring charges[26](index=26&type=chunk)[27](index=27&type=chunk)[29](index=29&type=chunk) Q2 2024 GAAP to Adjusted Net Income Reconciliation (in millions) | Description | Amount | | :--- | :--- | | **Reported GAAP Net Income (to BSX)** | **$324** | | Amortization expense | $182 | | Intangible asset impairment charges | $243 | | Acquisition/divestiture-related net charges | $38 | | Restructuring and related net charges | $44 | | Other adjustments | $83 | | **Adjusted Net Income (to BSX)** | **$914** |

MARLBOROUGH, Mass., July 24, 2024 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) generated net sales of $4.120 billion during the second quarter of 2024, growing 14.5 percent on a reported basis, 16.1 percent on an operational1 basis and 14.7 percent on an organic2 basis, all compared to the prior year period. The company reported GAAP net income attributable to Boston Scientific common stockholders of $324 million or $0.22 per share (EPS), compared to $261 million or $0.18 per share a year ago, ...

UKRAINE - 2021/06/17: In this photo illustration, a Boston Scientific Corporation logo seen ... [+] displayed on a smartphone and pc screen in the background. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesBoston Scientific (NYSE: BSX) is scheduled to report its Q2 2024 results on Wednesday, July 24. We expect the company to report revenues and earnings in line with the consensus estimates. A rise in elective surgeries performed and mar ...

Boston Scientific (BSX) is gaining traction in the emerging markets. New regulatory approvals bode well for the company’s growth. The stock carries a Zacks Rank #2 (Buy) currently.Boston Scientific is consistently gaining market share within its MedSurg segment. The Endoscopy business within MedSurg is gaining from strong worldwide demand for its broad range of gastrointestinal and pulmonary treatment options. In the first quarter of 2024, the company reported strong organic growth contribution from single- ...

Goodboy Picture Company/E+ via Getty ImagesBoston Scientific (NYSE:BSX) is set to report its second-quarter earnings on July 24. Expectations are high for this medical technologies giant following what has been an impressive share price rally in the first half of 2024. The stock is up 35% year-to-date, well ahead of healthcare sector benchmarks. We last covered BSX ahead of its first quarter report back in April highlighting the company's financial momentum, with new product launches driving a growth re ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Boston Scientific (BSX) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 24. ...