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Boston Scientific(BSX) - 2025 Q1 - Quarterly Results
BSXBoston Scientific(BSX)2025-04-23 10:34
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Financial Performance - Boston Scientific reported net sales of 4.663billionforQ12025,a20.94.663 billion for Q1 2025, a 20.9% increase on a reported basis, 22.2% on an operational basis, and 18.2% on an organic basis compared to the prior year[1][3]. - GAAP net income attributable to common stockholders was 674 million, or 0.45pershare,comparedto0.45 per share, compared to 495 million, or 0.33pershareayearago;adjustedEPSwas0.33 per share a year ago; adjusted EPS was 0.75, up from 0.56[1][3].−NetsalesforQ12025reached0.56[1][3]. - Net sales for Q1 2025 reached 4,663 million, a 21% increase from 3,856millioninQ12024[21].−GrossprofitforQ12025was3,856 million in Q1 2024[21]. - Gross profit for Q1 2025 was 3,210 million, up from 2,648millioninQ12024,reflectingagrossmarginimprovement[21].−Operatingincomeincreasedto2,648 million in Q1 2024, reflecting a gross margin improvement[21]. - Operating income increased to 921 million in Q1 2025, compared to 675millioninQ12024,representinga36675 million in Q1 2024, representing a 36% growth[21]. - Net income attributable to Boston Scientific common stockholders for Q1 2025 was 674 million, a 36% increase from 495millioninQ12024[21].−BasicnetincomepershareforQ12025was495 million in Q1 2024[21]. - Basic net income per share for Q1 2025 was 0.46, up from 0.34inQ12024,indicatinga350.34 in Q1 2024, indicating a 35% increase[21]. - Adjusted net income for Q1 2025 was 1,121 million, compared to 832millioninQ12024,reflectingasignificantincrease[23].SalesGrowth−TheCardiovascularsegmentachievedareportedsalesgrowthof26.2832 million in Q1 2024, reflecting a significant increase[23]. Sales Growth - The Cardiovascular segment achieved a reported sales growth of 26.2%, while MedSurg grew by 11.7% compared to the prior year[3]. - U.S. sales increased by 31.1% to 2.96 billion, while EMEA and APAC regions saw growth of 5.5% and 8.2%, respectively[9]. - Full year 2025 net sales growth is estimated to be approximately 15% to 17% on a reported basis and 12% to 14% on an organic basis[11]. - For Q2 2025, the company expects net sales growth in the range of 17.5% to 19.5% on a reported basis and 13% to 15% on an organic basis[12]. - The company expects Q2 2025 net sales growth to be between 17.5% and 19.5%, with full-year growth estimated at 15.0% to 17.0%[27]. - Organic growth for Q2 2025 is projected to be between 13.0% and 15.0%, and for the full year, it is expected to be between 12.0% and 14.0%[27]. Research and Development - The company plans to continue investing in research and development, with R&D expenses increasing to 443millioninQ12025from443 million in Q1 2025 from 366 million in Q1 2024[21]. Acquisitions and Clinical Trials - Boston Scientific completed the acquisition of Bolt Medical, Inc., and announced an agreement to acquire SoniVie Ltd., focusing on innovative medical technologies[7]. - The company commenced enrollment in the ELEVATE-PF clinical trial for the FARAFLEX™ Mapping and Pulsed Field Ablation Catheter targeting persistent atrial fibrillation[7]. Product Performance - The FARAPULSE™ PFA System demonstrated superior effectiveness in treating symptomatic paroxysmal atrial fibrillation compared to Medtronic's Arctic Front Advance™ catheter[7]. Operational Challenges - Boston Scientific is focusing on operational growth while managing the impact of acquisitions and divestitures, which is expected to affect growth rates negatively by approximately 4.5% in Q2 2025[27].