Boston Scientific(US:BSX)2025-10-22 10:32Financial Performance - Boston Scientific reported net sales of $5.065 billion for Q3 2025, a 20.3% increase on a reported basis compared to the prior year[2]. - GAAP net income attributable to common stockholders was $755 million, or $0.51 per share, up from $469 million, or $0.32 per share, a year ago[2]. - Adjusted EPS for the period was $0.75, compared to $0.63 in the prior year[2]. - Net sales for Q3 2025 reached $5,065 million, a 20.4% increase from $4,209 million in Q3 2024[19]. - Gross profit for the nine months ended September 30, 2025, was $10,175 million, up 21.3% from $8,395 million in the same period of 2024[19]. - Operating income for Q3 2025 was $1,048 million, representing a 43.0% increase compared to $733 million in Q3 2024[19]. - Net income attributable to Boston Scientific common stockholders for Q3 2025 was $755 million, a 60.9% increase from $469 million in Q3 2024[19]. - Basic net income per share for Q3 2025 was $0.51, compared to $0.32 in Q3 2024, reflecting a 59.4% increase[19]. - The company reported a net income of $2,222 million for the nine months ended September 30, 2025, a 73.0% increase from $1,284 million in the same period of 2024[23]. - Adjusted net income for Q3 2025 was $1,303 million, compared to $1,082 million in Q3 2024, indicating a 20.4% increase[21]. Sales Growth - The Cardiovascular segment saw a reported sales growth of 22.4%, while MedSurg grew by 16.4%[2]. - U.S. sales increased by 27.0% to $3.294 billion, while EMEA sales grew by 2.6%[6]. - Full year 2025 net sales growth is estimated at approximately 20% on a reported basis and 15.5% on an organic basis[8]. - For Q4 2025, the company estimates net sales growth in the range of 14.5% to 16.5% on a reported basis[9]. - Q4 2025 estimated net sales growth is projected between 14.5% and 16.5%, with a full year estimate of approximately 20.0%[25]. Research and Development - Research and development expenses for Q3 2025 were $514 million, up 26.3% from $407 million in Q3 2024[19]. - The company received PMDA approval in Japan for expanded labeling of the FARAPULSE™ Pulsed Field Ablation System[5]. - Boston Scientific commenced enrollment in the AGENT DCB STANCE trial to assess the AGENT™ Drug-Coated Balloon[5]. - The company completed an asset acquisition with Elutia, Inc. for the EluPro™ BioEnvelope and CanGaroo® Envelope[5]. Operational Insights - Total operating expenses for the nine months ended September 30, 2025, were $7,387 million, a 14.2% increase from $6,467 million in the same period of 2024[19]. - The impact of foreign currency fluctuations is expected to reduce Q4 2025 net sales growth by 2.0% and full year impact by around 1.0%[25]. - Operational growth for Q4 2025 is estimated at 12.5% to 14.5%, with a full year estimate of about 19.0%[25]. - Organic growth for Q4 2025 is projected between 11.0% and 13.0%, with a full year estimate of approximately 15.5%[25]. Earnings Projections - Q4 2025 GAAP earnings per share (EPS) is estimated to be between $0.48 and $0.52, while full year EPS is projected between $1.97 and $2.01[26]. - Adjusted EPS for Q4 2025 is expected to range from $0.77 to $0.79, with full year adjusted EPS estimated between $3.02 and $3.04[26]. Non-GAAP Measures - The company utilizes non-GAAP financial measures to provide additional insights into operational performance, excluding certain charges and impacts from foreign currency fluctuations[27]. - Adjusted net income calculations exclude charges such as amortization expense and restructuring-related costs, providing a clearer view of operational performance[28]. - Management emphasizes the importance of non-GAAP measures for evaluating performance trends and making operational decisions[32]. - The company believes that presenting both GAAP and non-GAAP measures enhances transparency for investors regarding operational performance[33].