Latest news with #MikeMahoney
Yahoo
3 days ago
- Business
- Yahoo
Boston Scientific Corporation (BSX) Is One Of The Most Reliable Companies, Says Jim Cramer
We recently published . Boston Scientific Corporation (NYSE:BSX) is one of the stocks Jim Cramer recently discussed. Boston Scientific Corporation (NYSE:BSX) is one of the biggest medical device companies in the world. Its shares have gained 18.9% year to date, with July proving to be a good month. Boston Scientific Corporation (NYSE:BSX)'s shares rose by 4.5% after its latest quarterly results, which saw the firm's cardiovascular business grow sales by 23% organically to smash analyst estimates of 5% out of the park. Cramer commented on the results: 'The most reliable medical equipment company. . .Boston Scientific. Another great quarter. Mike Mahoney quietly puts up a fantastic number, fantastic. Big revenue beat. Some people are just so unheralded and this again is the broadening out. I know that we can worry about 2008. I know we can worry about 2021. But there are sectors of the market where the companies are just crushing it. Like them.' A medical technician holding the instruments in her hands Previously, Cramer commented on Boston Scientific Corporation (NYSE:BSX)'s business: 'Now it was a big cluster with gains in the mid-fifties… Finally, there's Boston Scientific, which makes minimally invasive medical devices. We've had them on… Some would say it just builds a better mousetrap, crude and somewhat denigrating but true, a superior company.' While we acknowledge the potential of BSX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Irish Examiner
6 days ago
- Business
- Irish Examiner
Heart device sales help Boston Scientific beat profit estimates
Biomedical firm Boston Scientific has raised its annual profit forecast after strong demand for its heart devices helped the US medical device maker beat second-quarter profit estimates. Shares of the Massachusetts-based company rose by over 3% in pre-market trading following the results. A rise in surgical procedures has benefited medical device manufacturers such as Boston Scientific, as it boosted sales and helped offset broader concerns about healthcare spending pressures. Analysts said hospital utilization trends were robust during the second quarter, with hospital checks pointing to high single-digit volume growth - well above the historical average. Boston Scientific's main growth drivers, Farapulse and Watchman, which use short high-voltage pulses to treat certain abnormal heart rhythm conditions, saw strong demand during the quarter. Farapulse, approved in the US to treat certain patients with intermittent atrial fibrillation, competes with Johnson & Johnson's Varipulse and Medtronic's PulseSelect in the market for pulsed field ablation systems. Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse. The company reported net sales of $5.06bn (€4.33bn) during the second quarter beating estimates of $4.9bn. The majority of these sales, $3.2bn, were in the US with Europe, the Middle East, and Africa accounting for just $878m. The company's cardiovascular unit reported quarterly sales of $3.34bn, surpassing estimates of $3.20bn. 'Excellent quarter' Chairman and chief executive of Boston Scientific, Mike Mahoney, said it was another 'excellent quarter' for the company 'marked by exceptional top-line performance' which delivered 'margin expansion and prioritized investment for future growth'. Boston Scientific expects 2025 adjusted profit of $2.95 to $2.99 per share, up from the prior view of $2.87 to $2.94 earlier. It posted an adjusted profit of 75c per share for the second quarter, topping analysts' average estimate of 72 cents, according to data compiled by LSEG. Boston Scientific began operating in Ireland in 1994. It has a large campus in Cork as well as several other locations across the island. According to its company's Irish operations' most recent financial documents, it employed 6,405 during 2023. Reuters
Yahoo
7 days ago
- Business
- Yahoo
Boston Scientific trumps top and bottom-line forecasts, issues upbeat 2025 guide
-- Boston Scientific (NYSE:BSX) posted second-quarter results that topped expectations, driven by strong organic growth and solid performance across key regions. Adjusted EPS came in at $0.75, beating the $0.73 consensus. Revenue rose to $5.06 billion, up 22.8% year-over-year, exceeding the $4.89 billion forecast. On an organic basis, sales increased 17.4% year-over-year. "This was another excellent quarter — marked by exceptional top-line performance — that delivered margin expansion and prioritized investment for future growth," said Mike Mahoney, chairman and CEO of Boston Scientific. The company saw strong double-digit growth in the U.S. and Asia-Pacific of 30.7% and 18%, respectively, while EMEA and Latin America posted more modest gains. Emerging markets also contributed with healthy growth. For the third quarter, it guided to EPS of $0.70 to $0.72, compared to expectations of $0.70. Looking further ahead, Boston Scientific expects full-year 2025 EPS in the range of $2.95 to $2.99, above the $2.92 consensus. Related articles Boston Scientific trumps top and bottom-line forecasts, issues upbeat 2025 guide These Under-the-Radar Stocks Offer Better Risk-Reward Ratio Than Nvidia After soaring 149%, this stock is back in our AI's favor - & already +25% in July
Yahoo
24-04-2025
- Business
- Yahoo
BSX Q1 Earnings Call: Outperformance Driven by Cardiology and Electrophysiology, Guidance Raised Amid Tariff Headwinds
Medical device company Boston Scientific (NYSE:BSX) announced better-than-expected revenue in Q1 CY2025, with sales up 20.9% year on year to $4.66 billion. The company expects next quarter's revenue to be around $4.88 billion, close to analysts' estimates. Its non-GAAP profit of $0.75 per share was 11.5% above analysts' consensus estimates. Is now the time to buy BSX? Find out in our full research report (it's free). Revenue: $4.66 billion vs analyst estimates of $4.57 billion (20.9% year-on-year growth, 2% beat) Adjusted EPS: $0.75 vs analyst estimates of $0.67 (11.5% beat) Adjusted EBITDA: $1.45 billion vs analyst estimates of $1.31 billion (31.2% margin, 11.3% beat) Revenue Guidance for Q2 CY2025 is $4.88 billion at the midpoint, roughly in line with what analysts were expecting Management raised its full-year Adjusted EPS guidance to $2.91 at the midpoint, a 2.5% increase Operating Margin: 19.8%, up from 17.5% in the same quarter last year Free Cash Flow was $511.4 million, up from -$15 million in the same quarter last year Organic Revenue rose 18.2% year on year (13.1% in the same quarter last year) Market Capitalization: $146.3 billion Boston Scientific's first quarter results were shaped by broad-based momentum in its cardiology and electrophysiology businesses. Management highlighted that double-digit growth in five of eight business units and strong adoption of key platforms like FARAPULSE and WATCHMAN contributed to the company's outperformance. CEO Mike Mahoney emphasized, 'Our strong growth continues to reflect the durability of our category leadership strategy, which is powered through meaningful innovation and clinical evidence generation.' Looking forward, management's raised full-year guidance incorporates both continued portfolio strength and the anticipated impact of new tariffs. CFO Daniel Brennan noted that while tariffs present a $200 million headwind, the company expects to offset these through increased sales and discretionary spending reductions. Mahoney added, 'We remain excited about our near and long-term growth catalysts, which we believe will enable us to deliver consistent differentiated performance this year and well beyond.' Management attributed the quarter's outperformance to execution across core businesses, successful integration of recent acquisitions, and ongoing investment in clinical and manufacturing capabilities. Cardiology and Electrophysiology Surge: Cardiology sales grew substantially, with management pointing to strong demand for FARAPULSE (a pulsed field ablation system used in cardiac arrhythmia treatment) and the WATCHMAN left atrial appendage closure device. These platforms benefited from increased adoption, new account openings, and supporting clinical data. Geographic Expansion: The U.S. market experienced over 30% operational growth, while Japan and China also contributed meaningfully. Management noted that China, despite pricing pressures from volume-based procurement (VBP), is expected to maintain double-digit growth due to local partnerships and product launches. Integration of Acquisitions: The company completed the acquisitions of Bolt Medical and made progress integrating Axonics and other recently acquired businesses. These moves expand Boston Scientific's footprint in interventional cardiology, peripheral interventions, and urology. Pipeline Progress and Regulatory Milestones: Management highlighted ongoing clinical trials and anticipated regulatory approvals for next-generation products—including the Empower leadless pacemaker, expanded indications for WATCHMAN, and new mapping solutions for electrophysiology. Tariff and Supply Chain Management: The team acknowledged that new tariffs will impact costs in the second half of the year but stated they will not shift manufacturing locations, instead focusing on managing discretionary spending to protect margins. Management's outlook for the next quarter and the full year is underpinned by continued demand in core therapeutic categories, the expected contributions from recent product launches, and disciplined cost management in the face of new tariffs. Core Portfolio Momentum: Management expects sustained demand for FARAPULSE, WATCHMAN, and emerging electrophysiology products to drive above-market growth in key geographies. Mitigating Tariff Headwinds: The company plans to counteract a $200 million tariff impact primarily through higher sales, selective cost controls, and minor foreign exchange benefits, rather than changes to the manufacturing footprint. Ongoing Pipeline and Integration: New clinical data readouts, regulatory milestones, and the integration of new acquisitions such as SoniVie and Entera Oncology are expected to contribute to both revenue growth and portfolio diversification. Robert Marcus (JPMorgan): Asked about the ability to offset $200 million in tariffs and whether manufacturing would shift. Management replied that increased sales and spending reductions would cover the headwind, with no plans to change manufacturing locations. Larry Biegelsen (Wells Fargo): Questioned Boston Scientific's goal to become the #1 player in electrophysiology. CEO Mike Mahoney said this is the company's aim, driven by clinical leadership and geographic expansion, especially in China and Japan. Joanne Wuensch (Citi): Requested details on WATCHMAN's growth and uptake of combined procedures. Management cited faster-than-expected adoption and highlighted benefits for patients, physicians, and hospitals. Frederick Wise (Stifel): Asked about the broader impact of trade tensions and supply chain risks in China. Mahoney stated that double-digit growth is expected in China despite VBP pressures, supported by local manufacturing and partnerships. David Roman (Goldman Sachs): Inquired about drivers for moving MedSurg growth from mid-single to high-single digits. Management pointed to integration of acquisitions, improvements in neuromodulation, and some ongoing supply chain challenges in urology. In the coming quarters, the StockStory team will focus on (1) the uptake and broader clinical adoption of FARAPULSE and next-generation electrophysiology platforms, (2) progress on regulatory approvals and expanded indications for products like WATCHMAN and Empower, and (3) evidence of successful integration and revenue contributions from recent acquisitions such as SoniVie and Bolt Medical. We will also monitor the company's ability to offset tariff headwinds while sustaining margin expansion. Is BSX a buy or sell post earnings? The answer lies in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Comfort Systems (+751% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Boston Scientific announces results for first quarter 2025
MARLBOROUGH, Mass., April 23, 2025 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) generated net sales of $4.663 billion during the first quarter of 2025, growing 20.9 percent on a reported basis, 22.2 percent on an operational1 basis and 18.2 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 $674 million or $0.45 per share (EPS), compared to $495 million or $0.33 per share a year ago, and achieved adjusted3 EPS of $0.75 for the period, compared to $0.56 a year ago. "We delivered an exceptional quarter to start the year, reflecting the effectiveness of our highly engaged global team and the strength of our product portfolio," said Mike Mahoney, chairman and chief executive officer, Boston Scientific. "We remain well-positioned for the future as we continue to focus on meaningful innovation, clinical science and the execution of our category leadership strategy to drive differentiated growth and performance for the long-term." First quarter financial results and recent developments: Reported net sales of $4.663 billion, representing an increase of 20.9 percent on a reported basis, compared to the company's guidance range of 17 to 19 percent; 22.2 percent on an operational basis; and 18.2 percent on an organic basis, compared to the company's guidance range of 14 to 16 percent, all compared to the prior year period. Reported GAAP net income attributable to Boston Scientific common stockholders of $0.45 per share, compared to the company's guidance range of $0.43 to $0.45 per share, and achieved adjusted EPS of $0.75 per share, compared to the guidance range of $0.66 to $0.68 per share. Achieved the following net sales growth in each reportable segment, compared to the prior year period: MedSurg: 11.7 percent reported, 12.8 percent operational and 5.3 percent organic Cardiovascular: 26.2 percent reported, 27.6 percent operational and 25.6 percent organic Achieved the following net sales growth in each region, compared to the prior year period: United States (U.S.): 31.1 percent reported and operational Europe, Middle East and Africa (EMEA): 5.5 percent reported and 7.9 percent operational Asia-Pacific (APAC): 8.2 percent reported and 10.6 percent operational Latin America and Canada (LACA): 4.4 percent reported and 14.1 percent operational Emerging Markets4: 6.5 percent reported and 9.8 percent operational Commenced enrollment in the ELEVATE-PF clinical trial to evaluate the safety and effectiveness of the FARAFLEX™ Mapping and Pulsed Field Ablation (PFA) Catheter for treatment of persistent atrial fibrillation (AF). Began the OPTION-A clinical trial in the Asia-Pacific region to evaluate the safety and effectiveness of catheter ablation with the FARAPULSE™ PFA System and subsequent implant of the WATCHMAN™ Left Atrial Appendage Closure Device in a concomitant procedure. Published in The New England Journal of Medicine and presented as late-breaking science at the 2025 European Heart Rhythm Association annual meeting were results from the investigator-sponsored SINGLE SHOT CHAMPION clinical trial which demonstrated the FARAPULSE™ PFA System achieved superior effectiveness for the treatment of symptomatic paroxysmal AF versus the Arctic Front Advance™ cardiac cryoablation catheter (Medtronic). Presented late-breaking findings from the VITALYST Early Feasibility Study at the Technology and Heart Failure Therapeutics conference which demonstrated successful early experience with the investigational VITALYST™ Temporary Percutaneous Transvalvular Circulatory Support System in patients undergoing elective high-risk percutaneous coronary intervention. Published in JAMA Network Open real-world data demonstrating that patients with prostate cancer treated with SpaceOAR™ Hydrogel showed a 25% reduction in bowel disorder risk and a 46% decrease in procedures like colonoscopies four years post-radiation therapy. Completed the acquisition of Bolt Medical, Inc., the developer of an intravascular lithotripsy advanced laser-based platform for the treatment of coronary and peripheral artery disease. Announced agreement to acquire SoniVie Ltd., the developer of the TIVUS™ Intravascular Ultrasound System, an investigational nerve denervation technology designed to treat hypertension — such as renal artery denervation in the kidneys — subject to customary closing conditions. 1. Operational net sales growth excludes the impact of foreign currency fluctuations. 2. Organic net sales growth excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and divestitures for which there are less than a full period of comparable net sales. 3. Adjusted EPS excludes the impacts of certain charges (credits) which may include amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), investment portfolio net losses (gains) and impairments, restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits), European Union (EU) Medical Device Regulation (MDR) implementation costs, debt extinguishment net charges, deferred tax expenses (benefits) and certain discrete tax items. Emerging Markets countries include all countries except the United States, Western and Central Europe, Japan, Australia, New Zealand and Canada. Net sales for the first quarter by business and region:Increase/(Decrease) Three Months Ended March 31,ReportedBasisImpact ofForeignCurrencyFluctuationsOperational BasisImpact ofCertainAcquisitions/DivestituresOrganicBasis (in millions) 2025 2024 Endoscopy $ 673 $ 6424.7 %1.2 %5.9 %(0.4) %5.5 % Urology 633 51323.5 %1.0 %24.5 %(20.1) %4.4 % Neuromodulation 271 2565.8 %0.9 %6.8 %— %6.8 %MedSurg 1,577 1,41211.7 %1.1 %12.8 %(7.5) %5.3 % Cardiology 2,429 1,87229.8 %1.4 %31.2 %— %31.2 % Peripheral Interventions 656 57314.4 %1.4 %15.8 %(8.4) %7.4 %Cardiovascular 3,085 2,44526.2 %1.4 %27.6 %(2.0) %25.6 % Net Sales $ 4,663 $ 3,85620.9 %1.3 %22.2 %(4.0) %18.2 % Increase/(Decrease) Three Months EndedMarch 31,ReportedBasisImpact ofForeignCurrencyFluctuationsOperational Basis (in millions) 2025 2024 U.S. $ 2,960 $ 2,25831.1 %— %31.1 %EMEA 846 8035.5 %2.4 %7.9 %APAC 701 6478.2 %2.4 %10.6 %LACA 155 1494.4 %9.6 %14.1 %Net Sales $ 4,663 $ 3,85620.9 %1.3 %22.2 %Emerging Markets4 $ 690 $ 6486.5 %3.3 %9.8 %Amounts may not add due to rounding. Growth rates are based on actual, non-rounded amounts and may not recalculate sales growth rates that exclude the impact of foreign currency fluctuations and/or the impact of certain acquisitions/divestitures are not prepared in accordance with U.S. GAAP. Guidance for Full Year and Second Quarter 2025 The company estimates net sales growth for the full year 2025, versus the prior year period, to be approximately 15 to 17 percent on a reported basis and 12 to 14 percent on an organic basis. Full year organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to certain 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 $1.86 to $1.93 and estimates adjusted EPS, excluding certain charges (credits), of $2.87 to $2.94. The company estimates net sales growth for the second quarter of 2025, versus the prior year period, to be in a range of approximately 17.5 to 19.5 percent on a reported basis, and 13 to 15 percent on an organic basis. Second quarter organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to certain 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 $0.45 to $0.47 and estimates adjusted EPS, excluding certain charges (credits), of $0.71 to $0.73. Conference Call InformationBoston Scientific management will be discussing these results with analysts on a conference call today at 8:00 a.m. ET. The company will webcast the call to interested parties through its website: Please see the website for details on how to access the webcast. The webcast will be available for approximately one year on the Boston Scientific website. About Boston ScientificBoston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 45 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of healthcare. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at and connect on LinkedIn and X. Cautionary Statement Regarding Forward-Looking Statements This press release 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. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "may," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our expected net sales; reported, operational and organic revenue growth rates; reported and adjusted EPS for the second quarter and full year 2025; our financial performance; acquisitions; clinical trials; our business plans and product performance; and new and anticipated product approvals and launches. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. Risks and uncertainties that may cause such differences include, among other things: economic conditions, including the impact of foreign currency fluctuations; future U.S. and global political, competitive, reimbursement and regulatory conditions, including changing trade and tariff policies; geopolitical events; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; variations in outcomes of ongoing and future clinical trials and market studies; new product introductions; expected procedural volumes; the closing and integration of acquisitions; demographic trends; intellectual property; litigation; financial market conditions; the execution and effect of our business strategy, including our cost-savings and growth initiatives; and future business decisions made by us and our competitors. New risks and uncertainties may arise from time to time and are difficult to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A - Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements, except as required by law. This cautionary statement is applicable to all forward-looking statements contained in this press release. Note: Amounts reported in millions within this press release are computed based on the amounts in thousands. As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying unrounded amounts. Use of Non-GAAP Financial InformationA reconciliation of the company's non-GAAP financial measures to the corresponding GAAP measures, and an explanation of the company's use of these non-GAAP financial measures, is included in the exhibits attached to this press release. CONTACT: Media: Chanel HastingsInvestors: Jonathan Monson508-382-0288 (office) 508-683-5450 (office)Media Relations Investor RelationsBoston Scientific Corporation Boston Scientific BSXInvestorRelations@ BOSTON SCIENTIFIC CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)Three Months Ended March 31, in millions, except per share data 2025 2024Net sales $ 4,663 $ 3,856 Cost of products sold 1,453 1,209 Gross profit 3,210 2,648Operating expenses: Selling, general and administrative expenses 1,597 1,364 Research and development expenses 443 366 Royalty expense 14 10 Amortization expense 219 214 Contingent consideration net expense (benefit) 5 17 Restructuring net charges (credits) 10 32,288 1,973 Operating income (loss) 921 675Other income (expense): Interest expense (82) (69) Other, net (34) 2 Income (loss) before income taxes 805 608 Income tax expense (benefit) 133 115 Net income (loss) 672 493 Net income (loss) attributable to noncontrolling interests (2) (1) Net income (loss) attributable to Boston Scientific common stockholders $ 674 $ 495Net income (loss) per common share - basic $ 0.46 $ 0.34 Net income (loss) per common share - diluted $ 0.45 $ 0.33Weighted-average shares outstanding Basic 1,477.2 1,468.4 Diluted 1,493.1 1,481.7Amounts may not add due to rounding. BOSTON SCIENTIFIC CORPORATION NON-GAAP NET INCOME AND NET INCOME PER SHARE RECONCILIATIONS (Unaudited)Three Months Ended March 31, 2025 (in millions, except per share data) Gross Profit Operating Expenses Operating Income(Loss) OtherIncome (Expense) Income(Loss)BeforeIncomeTaxes NetIncome (Loss) Net Income(Loss)Attributable toNoncontrollingInterests Net Income(Loss)Attributable toBostonScientificCommonStockholders Impactper Share Reported $ 3,210 $ 2,288 $ 921 $ (116) $ 805 $ 672 $ (2) $ 674 $ 0.45 Non-GAAP adjustments:Amortization expense — (219) 219 — 219 189 2 187 0.13 Acquisition/divestiture-related net charges(credits) 89 (58) 148 1 149 154 — 154 0.10 Restructuring and restructuring-related netcharges (credits) 24 (24) 49 — 49 42 — 42 0.03 Investment portfolio net losses (gains) andimpairments — — — 8 8 7 — 7 0.00 EU MDR implementation costs 9 (4) 12 — 12 11 — 11 0.01 Deferred tax expenses (benefits) — — — — — 47 — 47 0.03 Adjusted $ 3,332 $ 1,982 $ 1,350 $ (106) $ 1,243 $ 1,121 $ 0 $ 1,121 $ 0.75Three Months Ended March 31, 2024 (in millions, except per share data) Gross Profit Operating Expenses Operating Income(Loss) OtherIncome (Expense) Income(Loss)BeforeIncome Taxes NetIncome (Loss) Net Income(Loss)Attributable toNoncontrolling Interests Net Income(Loss)Attributable toBostonScientificCommonStockholders ImpactperShare Reported $ 2,648 $ 1,973 $ 675 $ (67) $ 608 $ 493 $ (1) $ 495 $ 0.33 Non-GAAP adjustments:Amortization expense — (214) 214 — 214 184 2 182 0.12 Acquisition/divestiture-related net charges(credits) 10 (54) 64 (0) 64 77 — 77 0.05 Restructuring and restructuring-related netcharges (credits) 25 (21) 46 — 46 40 — 40 0.03 Investment portfolio net losses (gains) andimpairments — — — (14) (14) (11) — (11) (0.01) EU MDR implementation costs 9 (5) 14 — 14 12 — 12 0.01 Deferred tax expenses (benefits) — — — — — 37 — 37 0.02 Adjusted $ 2,692 $ 1,680 $ 1,012 $ (80) $ 932 $ 833 $ 1 $ 832 $ 0.56 An explanation of the company's use of these non-GAAP financial measures is provided at the end of this document. Amounts may not add due to rounding. BOSTON SCIENTIFIC CORPORATIONQ2 and FY 2025 GUIDANCE RECONCILIATIONS(Unaudited) Net SalesQ2 2025 EstimateFull Year 2025 Estimate(Low) (High)(Low) (High) Reported growth 17.5 % 19.5 %15.0 % 17.0 % Impact of foreign currency fluctuations 0.0 % 0.0 %0.5 % 0.5 % Operational growth 17.5 % 19.5 %15.5 % 17.5 % Impact of certain acquisitions/divestitures (4.5) % (4.5) %(3.5) % (3.5) % Organic growth 13.0 % 15.0 %12.0 % 14.0 % Earnings per ShareQ2 2025 EstimateFull Year 2025 Estimate(Low) (High)(Low) (High) GAAP results $ 0.45 $ 0.47$ 1.86 $ 1.93 Amortization expense 0.13 0.130.51 0.51 Acquisition/divestiture-related net charges (credits) 0.05 0.050.22 0.22 Restructuring and restructuring-related net charges (credits) 0.04 0.040.13 0.13 Other adjustments 0.04 0.040.16 0.16 Adjusted results $ 0.71 $ 0.73$ 2.87 $ 2.94 Amounts may not add due to rounding. Use of Non-GAAP Financial Measures To supplement our unaudited consolidated financial statements presented on a GAAP basis, we disclose certain non-GAAP financial measures, including adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share (EPS) that exclude certain charges (credits); operational net sales, which exclude the impact of foreign currency fluctuations; and organic net sales, which exclude the impact of foreign currency fluctuations as well as the impact of certain acquisitions and divestitures with less than a full period of comparable net sales. These non-GAAP financial measures are not in accordance with generally accepted accounting principles in the United States and should not be considered in isolation from or as a replacement for the most directly comparable GAAP financial measures. Further, other companies may calculate these non-GAAP financial measures differently than we do, which may limit the usefulness of those measures for comparative purposes. To calculate adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share, we exclude certain charges (credits) from GAAP net income and GAAP net income attributable to Boston Scientific common stockholders, which include amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), investment portfolio net losses (gains) and impairments, restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits), EU MDR implementation costs, debt extinguishment net charges, deferred tax expenses (benefits) and certain discrete tax items. Amounts are presented after-tax using the company's effective tax rate, unless the amount is a significant unusual or infrequently occurring item in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 740-270-30, "General Methodology and Use of Estimated Annual Effective Tax Rate." Please refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission or Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations in any Quarterly Report on Form 10-Q that we have filed or will file thereafter for an explanation of each of these adjustments and the reasons for excluding each item. The GAAP financial measures most directly comparable to adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share are GAAP net income (loss), GAAP net income (loss) attributable to Boston Scientific common stockholders and GAAP net income (loss) per common share – diluted, respectively. To calculate operational net sales growth rates, which exclude the impact of foreign currency fluctuations, we convert actual net sales from local currency to U.S. dollars using constant foreign currency exchange rates in the current and prior periods. To calculate organic net sales growth rates, we also remove the impact of certain acquisitions and divestitures with less than a full period of comparable net sales. The GAAP financial measure most directly comparable to operational net sales and organic net sales is net sales reported on a GAAP basis. Reconciliations of each of these non-GAAP financial measures to the corresponding GAAP financial measure are included in the accompanying schedules. Management uses these supplemental non-GAAP financial measures to evaluate performance period over period, to analyze the underlying trends in our business, to assess our performance relative to our competitors and to establish operational goals and forecasts that are used in allocating resources. In addition, management uses these non-GAAP financial measures to further its understanding of the performance of our operating segments. The adjustments excluded from our non-GAAP financial measures are consistent with those excluded from our operating segments' measures of net sales and profit or loss. These adjustments are excluded from the segment measures reported to our chief operating decision maker that are used to make operating decisions and assess performance. We believe that presenting adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders, adjusted net income (loss) per share, operational net sales growth rates and organic net sales growth rates, in addition to the corresponding GAAP financial measures, provides investors greater transparency to the information used by management for its operational decision-making and allows investors to see our results "through the eyes" of management. We further believe that providing this information assists our investors in understanding our operating performance and the methodology used by management to evaluate and measure such performance. View original content to download multimedia: SOURCE Boston Scientific Corporation Sign in to access your portfolio
