FX.co ★ Boston Scientific Boosts FY24 Outlook - Update

Boston Scientific Corp., a manufacturer of medical devices, revised its financial forecast for the year 2024 after announcing its first-quarter results on Wednesday. The company has increased its anticipated adjusted earnings and net sales growth for 2024.

Specifically, Boston Scientific Corp. is now anticipating earnings ranging from $1.43 to $1.48 per share for 2024 and adjusted earnings from $2.29 to $2.34 per share. The corporation forecasts a net sales growth between 11% to 13%, with organic net sales growth projected at 10 to 12%.

The company's prior prediction was for earnings ranging from $1.38 to $1.42 per share and adjusted earnings from $2.23 to $2.27 per share. The estimated net sales growth was pegged at approximately 8.5% to 9.5%, with an expected organic net sales growth of approximately 8% to 9%.

Analysts at Thomson Reuters, on average, have estimated the company's earnings at $2.25 per share, with a revenue growth of 9.4%, totalling to $15.58 billion for the year. These forecasts typically exclude any exceptional items.

For the upcoming second quarter, Boston Scientific Corp. projects earnings in a range of $0.35 to $0.37 per share. The company anticipates adjusted earnings to range from $0.57 to $0.59 per share. Similarly, net sales growth is expected to be around 10.5% to 12.5%, with organic net sales growth estimated at 10% to 12%.

For the second quarter, analysts predict earnings of $0.56 per share and revenue growth of 9.2%, totalling to approximately $3.93 billion.