Boston Scientific ( NYSE: BSX ) stock rose +5% premarket July 27 after the company's Q2 results beat analysts estimates despite narrowing FY22 outlook.
Q2 adjusted EPS rose +10% Y/Y to $0.44, while net sales grew +5.4% Y/Y to $3.24B.
"We had another quarter of excellent performance, a testament to the talent of our global team, the sustainability and diversification of our innovative medical technology portfolio and our strong market positions amid continued macroeconomic challenges," said Chairman and CEO Mike Mahoney.
Sales from MedSurg segment grew +4.5% Y/Y to ~$1.25B, while Cardiology revenue increased +7.6% Y/Y to $1.52B.
Urology and Pelvic Health sales rose +13.4% Y/Y to $450M.
However, Neuromodulation business sales declined -3.4% Y/Y to $239M.
Meanwhile, sales from Peripheral Interventions business and Endoscopy segment were largely flat, growing +1.2% Y/Y to $478, and +1.6% Y/Y to $560, respectively.
Region wise Latin America and Canada showed the largest gain, +26.8% Y/Y to $120M. Emerging market sales grew +18.9% Y/Y to $427M.
U.S. followed with an increase of +7.4% Y/Y to $1.93B.
However, sales in EMEA region slightly declined, -0.3% Y/Y to $660M.
Outlook :
Q3 : Boston Scientific estimates net sales growth for Q3 Y/Y to be in a range of ~6% to 8% on a reported basis, and ~8% to 10% percent on an organic basis. Consensus Revenue Estimate +9.21% Y/Y.
The company expects adjusted EPS, excluding certain charges (credits) to be between $0.43 and $0.45. Consensus EPS Estimate for Q3 is $0.45.
Meanwhile, GAAP EPS is expected in a range of $0.20 to $0.24.
Full year 2022 : Boston Scientific expects FY22 net sales growth Y/Y to be in a range of ~6.5% to 7.5% on a reported basis, and ~8% to 9% on an organic basis. Consensus Revenue Estimate is +7.85% Y/Y.
The company now estimates adjusted EPS, excluding certain charges (credits) to be between $1.74 to $1.77. Consensus EPS Estimate for 2022 is $1.76.
GAAP EPS is expected to be in the range of $0.69 to $0.76.
BSX +5.37% to $40.00 premarket July 27
For further details see:
Boston Scientific stock climbs as Q2 sales soar on Cardiology, Urology; trims FY22 outlook