Boston Scientific Beats Q2 Estimates, Ups Full-Year Guidance

Boston Scientific has released its financial results for the second quarter of 2024.

The Marlborough, Mass.-based company generated revenues of $4.12 billion in Q2, rising 14.5% on a reported basis over last year’s Q2 (14.7% organic). This exceeded Boston Scientific’s previous guidance range of 10.5-12.5% for the period.

GAAP net income for the quarter was $0.22 per share ($324 million), compared to the company’s guidance range of $0.35-0.37 per share. Adjusted earnings per share (EPS) were $0.62, surpassing the previous guidance range of $0.57-$0.59 per share.

The Cardiovascular business performed most admirable with 17.8% sales growth as reported (19% organic). MedSurg proceeds grew 9% as reported (7.6% organic) as well.

As a result, the company raised its full-year 2024 revenue guidance to be in the range of 13.5-14.5% on a reported bases and 13-14% on an organic basis.

“We delivered a quarter marked by exceptional performance, reflecting our global team’s relentless pursuit of innovation that is supported by strong clinical evidence and investments aligned with our strategy of category leadership,” said Mike Mahoney, chairman and CEO of Boston Scientific. “We remain excited about our plans for the future, and I am incredibly grateful for the commitment and winning spirit of our employees around the world.”

Q2 and recent highlights

• Began a deal to acquire Silk Road Medical for about $1.16 billion ($27.50 per share)
• Presented positive data for its modular CRM system at Heart Rhythm 2024
• Began NAVIGATE-PF study of the Farawave PFA Nav Catheter