Boston Scientific announces results for fourth quarter and full year 2024
Rhea-AI Summary
Boston Scientific (BSX) reported strong financial results for Q4 and full year 2024. Q4 net sales reached $4.561 billion, growing 22.4% on a reported basis, with GAAP EPS of $0.38 and adjusted EPS of $0.70. Full-year 2024 net sales were $16.747 billion, up 17.6%, with GAAP EPS of $1.25 and adjusted EPS of $2.51.
The company showed significant growth across segments, with Cardiovascular growing 28.8% and MedSurg up 12.4% in Q4. Regional performance was led by the U.S. with 30.7% growth. Notable developments include positive clinical trial results for WATCHMAN FLX™ and FARAPULSE™ systems, plus strategic acquisitions of Axonics and Cortex.
For 2025, BSX projects full-year net sales growth of 12.5-14.5% on a reported basis and adjusted EPS of $2.80-$2.87. Q1 2025 guidance indicates 17-19% reported sales growth with adjusted EPS of $0.66-$0.68.
Positive
- Q4 net sales grew 22.4% to $4.561 billion, exceeding guidance of 16.5-18.5%
- Full year 2024 net sales increased 17.6% to $16.747 billion
- Q4 adjusted EPS of $0.70 beat guidance of $0.64-$0.66
- Strong U.S. regional growth of 30.7% in Q4
- Cardiovascular segment showed robust growth of 28.8% in Q4
Negative
- Q4 GAAP EPS of $0.38 missed guidance range of $0.41-$0.43
Insights
Boston Scientific's Q4 results showcase remarkable operational excellence, with revenue and earnings substantially exceeding guidance. The
The success of the FARAPULSE™ Pulsed Field Ablation System launch and positive clinical trial results for the WATCHMAN FLX™ device are catalyzing growth in the high-margin Cardiology segment. The strategic acquisitions of Axonics (urological devices) and Cortex (AF mapping technology) demonstrate a focused approach to portfolio expansion in high-growth markets.
Looking ahead, the 2025 guidance of
The company's market execution demonstrates exceptional commercial capabilities, with the U.S. segment delivering
The strategic acquisitions are reshaping the competitive landscape. The Axonics acquisition immediately establishes leadership in the fast-growing urological devices market, while Cortex enhances the AF treatment portfolio. These moves are creating formidable barriers to entry through technology leadership and expanded market access.
Emerging Markets performance (
For the full year 2024, the company generated net sales of
"2024 was one of the best years in the history of Boston Scientific, fueled by our innovative portfolio, the launch of our FARAPULSE™ Pulsed Field Ablation System as well as significant clinical achievements and commercial excellence across businesses and regions," said Mike Mahoney, chairman and chief executive officer, Boston Scientific. "We have a strong foundation for growth, and I am incredibly grateful for our talented global team and the opportunity to continue transforming the lives of millions of patients around the world."
Fourth quarter financial results and recent developments:
- Reported net sales of
$4.56 1 billion - Reported GAAP net income attributable to Boston Scientific common stockholders of
$0.38 $0.41 $0.43 $0.70 $0.64 $0.66 - Achieved the following net sales growth in each reportable segment, compared to the prior year period:
- MedSurg: 12.4 percent reported, 13.0 percent operational and 7.0 percent organic
- Cardiovascular: 28.8 percent reported, 29.5 percent operational and 27.4 percent organic
- Achieved the following net sales growth in each region, compared to the prior year period:
United States (U.S. ): 30.7 percent reported and operationalEurope ,Middle East andAfrica (EMEA): 10.8 percent reported and 11.6 percent operationalAsia-Pacific (APAC): 11.1 percent reported and 12.4 percent operationalLatin America andCanada (LACA): 4.6 percent reported and 12.6 percent operational- Emerging Markets4: 12.4 percent reported and 15.2 percent operational
- Presented positive 36-month primary endpoint findings from the OPTION clinical trial at the American Heart Association Scientific Sessions demonstrating superior bleeding risk reduction and similar efficacy with the WATCHMAN FLX™ Left Atrial Appendage Closure Device compared to oral anticoagulation in high-risk patients with atrial fibrillation (AF) post ablation, followed by a late-breaking sub-analysis at AF Symposium 2025 reaffirming positive outcomes with the device in both concomitant and sequential procedures.
- Presented positive 12-month primary endpoint findings from phase one of the ADVANTAGE AF clinical trial at AF Symposium 2025 that achieved the safety and effectiveness endpoints for the treatment of patients with persistent AF with the FARAPULSE™ Pulsed Field Ablation System.
- Received
U.S. Centers for Medicare & Medicaid Services approval of a new transitional pass-through payment for the AGENT™ Drug-Coated Balloon effective Jan. 1, 2025, which offers facilities additional reimbursement for outpatient procedures. - Received both
U.S. Food and Drug Administration (FDA) approval and CE mark for the Vercise™ Cartesia™ X and HX Directional Leads, the first and only 16-contact directional leads designed for more precise targeting for enhanced clinical outcomes using the Vercise Genus™ Deep Brain Stimulation System. - Completed the acquisition of Axonics, Inc., an innovative medical technology company focused on the development and commercialization of differentiated devices for the treatment of urinary and bowel dysfunction.
- Announced and completed the acquisition of Cortex, Inc., a privately held medical technology company focused on the development of a diagnostic mapping solution which aims to identify triggers and drivers outside of the pulmonary veins that are foundational to AF.
- Announced agreements to acquire the following companies, subject to customary closing conditions:
- Bolt Medical, Inc., a developer of an intravascular lithotripsy advanced laser-based platform for the treatment of coronary and peripheral artery disease which is pending
U.S. FDA approval. - Intera Oncology® Inc., a medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine, a chemotherapy drug.
- Bolt Medical, Inc., a developer of an intravascular lithotripsy advanced laser-based platform for the treatment of coronary and peripheral artery disease which is pending
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 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 Medical Device Regulation (EU MDR) implementation costs, debt extinguishment net charges, deferred tax expenses (benefits) and certain discrete tax items. |
4 Periodically, we assess our list of Emerging Markets countries, and effective January 1, 2023, modified our list to include all countries except |
Fourth quarter net sales by business and region:
Increase/(Decrease) | |||||||||||||
Three Months Ended | Reported | Impact of | Operational | Impact of | Organic | ||||||||
(in millions) | 2024 | 2023 | |||||||||||
Endoscopy | $ 690 | $ 645 | 7.0 % | 0.6 % | 7.6 % | (0.7) % | 7.0 % | ||||||
Urology | 630 | 527 | 19.5 % | 0.5 % | 20.1 % | (12.2) % | 7.9 % | ||||||
Neuromodulation | 299 | 269 | 11.4 % | 0.5 % | 11.9 % | (6.4) % | 5.5 % | ||||||
MedSurg | 1,619 | 1,441 | 12.4 % | 0.6 % | 13.0 % | (6.0) % | 7.0 % | ||||||
Cardiology | 2,297 | 1,751 | 31.1 % | 0.8 % | 31.9 % | — % | 31.9 % | ||||||
Peripheral Interventions | 645 | 533 | 21.0 % | 0.8 % | 21.7 % | (9.2) % | 12.5 % | ||||||
Cardiovascular | 2,942 | 2,285 | 28.8 % | 0.8 % | 29.5 % | (2.2) % | 27.4 % | ||||||
Net Sales | $ 4,561 | $ 3,725 | 22.4 % | 0.7 % | 23.1 % | (3.6) % | 19.5 % | ||||||
Increase/(Decrease) | |||||||||
Three Months Ended | Reported | Impact of | Operational | ||||||
(in millions) | 2024 | 2023 | |||||||
$ 2,893 | $ 2,213 | 30.7 % | — % | 30.7 % | |||||
EMEA | 830 | 749 | 10.8 % | 0.9 % | 11.6 % | ||||
APAC | 684 | 616 | 11.1 % | 1.2 % | 12.4 % | ||||
LACA | 155 | 148 | 4.6 % | 8.0 % | 12.6 % | ||||
Net Sales | $ 4,561 | $ 3,725 | 22.4 % | 0.7 % | 23.1 % | ||||
Emerging Markets4 | $ 668 | $ 595 | 12.4 % | 2.8 % | 15.2 % | ||||
Amounts may not foot due to rounding. Growth rates are based on actual, non-rounded amounts and may not recalculate precisely. | |||||||||
Net sales growth rates that exclude the impact of foreign currency fluctuations and/or the impact of acquisitions/divestitures are not prepared in | |||||||||
Full year net sales by business and region:
Increase/(Decrease) | |||||||||||||
Year Ended December 31, | Reported | Impact of | Operational | Impact of | Organic | ||||||||
(in millions) | 2024 | 2023 | |||||||||||
Endoscopy | $ 2,687 | $ 2,482 | 8.3 % | 0.6 % | 8.9 % | (1.0) % | 8.0 % | ||||||
Urology | 2,200 | 1,964 | 12.0 % | 0.5 % | 12.5 % | (3.3) % | 9.3 % | ||||||
Neuromodulation | 1,106 | 976 | 13.3 % | 0.4 % | 13.7 % | (11.0) % | 2.7 % | ||||||
MedSurg | 5,993 | 5,422 | 10.5 % | 0.6 % | 11.1 % | (3.6) % | 7.5 % | ||||||
Cardiology | 8,344 | 6,709 | 24.4 % | 1.0 % | 25.4 % | — % | 25.4 % | ||||||
Peripheral Interventions | 2,410 | 2,110 | 14.2 % | 1.2 % | 15.5 % | (4.6) % | 10.9 % | ||||||
Cardiovascular | 10,755 | 8,819 | 22.0 % | 1.1 % | 23.0 % | (1.1) % | 21.9 % | ||||||
Net Sales | $ 16,747 | $ 14,240 | 17.6 % | 0.9 % | 18.5 % | (2.1) % | 16.4 % | ||||||
Increase/(Decrease) | |||||||||
Year Ended December 31, | Reported | Impact of | Operational | ||||||
(in millions) | 2024 | 2023 | |||||||
$ 10,210 | $ 8,425 | 21.2 % | — % | 21.2 % | |||||
EMEA | 3,228 | 2,856 | 13.0 % | 0.8 % | 13.8 % | ||||
APAC | 2,686 | 2,400 | 11.9 % | 3.7 % | 15.7 % | ||||
LACA | 624 | 560 | 11.4 % | 2.6 % | 14.1 % | ||||
Net Sales | $ 16,747 | $ 14,240 | 17.6 % | 0.9 % | 18.5 % | ||||
Emerging Markets4 | $ 2,680 | $ 2,310 | 16.1 % | 3.6 % | 19.6 % | ||||
Amounts may not foot due to rounding. Growth rates are based on actual, non-rounded amounts and may not recalculate precisely. | |||||||||
Net sales growth rates that exclude the impact of foreign currency fluctuations and/or the impact of acquisitions/divestitures are not prepared in | |||||||||
Guidance for Full Year and First Quarter 2025
The company estimates net sales growth for the full year 2025, versus the prior year period, to be in a range of approximately 12.5 to 14.5 percent on a reported basis, and approximately 10 to 12 percent on an organic basis. Full year organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to 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
The company estimates net sales growth for the first quarter of 2025, versus the prior year period, to be in a range of approximately 17 to 19 percent on a reported basis, and approximately 14 to 16 percent on an organic basis. First quarter organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to 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
Conference Call Information
Boston 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: investors.bostonscientific.com. 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 Scientific
Boston 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 health care. 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 www.bostonscientific.com and connect on LinkedIn and X, formerly Twitter.
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 first 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
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 Information
A 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 Hastings | Investors: | Jonathan | |
508-382-0288 (office) | 508-683-5450 (office) | |||
Media Relations | Investor Relations | |||
Boston Scientific Corporation | Boston Scientific Corporation | |||
BOSTON SCIENTIFIC CORPORATION | |||||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||
(Unaudited) | |||||
Three Months Ended December 31, | Year Ended December 31, | ||||
in millions, except per share data | 2024 | 2023 | 2024 | 2023 | |
Net sales | $ 4,561 | $ 3,725 | $ 16,747 | $ 14,240 | |
Cost of products sold | 1,466 | 1,146 | 5,257 | 4,345 | |
Gross profit | 3,095 | 2,579 | 11,490 | 9,896 | |
Operating expenses: | |||||
Selling, general and administrative expenses | 1,612 | 1,379 | 5,984 | 5,190 | |
Research and development expenses | 460 | 363 | 1,615 | 1,414 | |
Royalty expense | 10 | 12 | 33 | 46 | |
Amortization expense | 225 | 208 | 856 | 828 | |
Intangible asset impairment charges | 111 | — | 386 | 58 | |
Contingent consideration net expense (benefit) | (1) | 14 | (5) | 58 | |
Restructuring net charges (credits) | 4 | 19 | 16 | 69 | |
Litigation-related net charges (credits) | — | — | — | (111) | |
2,420 | 1,995 | 8,887 | 7,553 | ||
Operating income (loss) | 675 | 584 | 2,603 | 2,343 | |
Other income (expense): | |||||
Interest expense | (80) | (65) | (305) | (265) | |
Other, net | (10) | (14) | (16) | (93) | |
Income (loss) before income taxes | 585 | 505 | 2,282 | 1,985 | |
Income tax expense (benefit) | 23 | 1 | 436 | 393 | |
Net income (loss) | $ 562 | $ 504 | $ 1,846 | $ 1,592 | |
Preferred stock dividends | — | — | — | (23) | |
Net income (loss) attributable to noncontrolling interests | (4) | (0) | (8) | (1) | |
Net income (loss) attributable to Boston Scientific | $ 566 | $ 504 | $ 1,853 | $ 1,570 | |
Net income (loss) per common share - basic | $ 0.38 | $ 0.34 | $ 1.26 | $ 1.08 | |
Net income (loss) per common share - diluted | $ 0.38 | $ 0.34 | $ 1.25 | $ 1.07 | |
Weighted-average shares outstanding | |||||
Basic | 1,474.2 | 1,465.3 | 1,471.5 | 1,453.0 | |
Diluted | 1,490.2 | 1,476.9 | 1,485.9 | 1,463.5 | |
Amounts may not foot due to rounding. | |||||
BOSTON SCIENTIFIC CORPORATION | |||||||||
NON-GAAP NET INCOME AND NET INCOME PER SHARE RECONCILIATIONS | |||||||||
(Unaudited) | |||||||||
Three Months Ended December 31, 2024 | |||||||||
in millions, except per share data | Gross | Operating | Operating | Other | Income | Net | Net Income | Net Income | Impact |
Reported | $ 3,095 | $ 2,420 | $ 675 | $ (90) | $ 585 | $ 562 | $ (4) | $ 566 | $ 0.38 |
Non-GAAP adjustments: | |||||||||
Amortization expense | — | (225) | 225 | — | 225 | 198 | 2 | 196 | 0.13 |
Intangible asset impairment | — | (111) | 111 | — | 111 | 96 | — | 96 | 0.06 |
Acquisition/divestiture-related | 63 | (84) | 147 | 0 | 147 | 61 | — | 61 | 0.04 |
Restructuring and restructuring- | 56 | (24) | 80 | — | 80 | 70 | — | 70 | 0.05 |
Litigation-related net charges | — | — | — | — | — | (0) | — | (0) | (0.00) |
Investment portfolio net losses | — | — | — | 2 | 2 | 1 | — | 1 | 0.00 |
EU MDR implementation costs | 9 | (5) | 13 | — | 13 | 12 | — | 12 | 0.01 |
Deferred tax expenses (benefits) | — | — | — | — | — | 45 | — | 45 | 0.03 |
Discrete tax items | — | — | — | — | — | (4) | — | (4) | (0.00) |
Adjusted | $ 3,222 | $ 1,971 | $ 1,251 | $ (87) | $ 1,164 | $ 1,041 | $ (1) | $ 1,043 | $ 0.70 |
Three Months Ended December 31, 2023 | |||||||||
in millions, except per share data | Gross | Operating | Operating | Other | Income | Net | Net Income | Net Income | Impact |
Reported | $ 2,579 | $ 1,995 | $ 584 | $ (79) | $ 505 | $ 504 | $ (0) | $ 504 | $ 0.34 |
Non-GAAP adjustments: | |||||||||
Amortization expense | — | (208) | 208 | — | 208 | 178 | 2 | 176 | 0.12 |
Acquisition/divestiture-related | 9 | (120) | 129 | (0) | 129 | 54 | — | 54 | 0.04 |
Restructuring and restructuring- | 22 | (30) | 52 | — | 52 | 43 | — | 43 | 0.03 |
Litigation-related net charges | — | — | — | — | — | (1) | — | (1) | (0.00) |
Investment portfolio net losses | — | — | — | (0) | (0) | 2 | — | 2 | 0.00 |
EU MDR implementation costs | 11 | (5) | 16 | — | 16 | 14 | — | 14 | 0.01 |
Deferred tax expenses (benefits) | — | — | — | — | — | 44 | — | 44 | 0.03 |
Discrete tax items | — | — | — | — | — | (18) | — | (18) | (0.01) |
Adjusted | $ 2,621 | $ 1,631 | $ 990 | $ (79) | $ 911 | $ 819 | $ 2 | $ 817 | $ 0.55 |
An explanation of the company's use of these non-GAAP financial measures is provided at the end of this document. | |||||||||
Amounts may not foot due to rounding. | |||||||||
BOSTON SCIENTIFIC CORPORATION | ||||||||||
NON-GAAP NET INCOME AND NET INCOME PER SHARE RECONCILIATIONS | ||||||||||
(Unaudited) | ||||||||||
Year Ended December 31, 2024 | ||||||||||
in millions, except per share data | Gross | Operating | Operating | Other | Income | Net | Preferred | Net Income | Net Income | Impact |
Reported | $ 8,887 | $ 2,603 | $ (321) | $ 2,282 | $ 1,846 | $ — | $ (8) | $ 1,853 | $ 1.25 | |
Non-GAAP adjustments: | ||||||||||
Amortization expense | — | (856) | 856 | — | 856 | 743 | — | 9 | 734 | 0.49 |
Intangible asset | — | (386) | 386 | — | 386 | 339 | — | — | 339 | 0.23 |
Acquisition/divestiture- | 111 | (291) | 402 | 1 | 403 | 375 | — | — | 375 | 0.25 |
Restructuring and | 139 | (90) | 229 | — | 229 | 199 | — | — | 199 | 0.13 |
Litigation-related net | — | — | — | — | — | (0) | — | — | (0) | (0.00) |
Investment portfolio net | — | — | — | 20 | 20 | 19 | — | — | 19 | 0.01 |
EU MDR implementation | 35 | (17) | 52 | — | 52 | 45 | — | — | 45 | 0.03 |
Deferred tax expenses | — | — | — | — | — | 165 | — | — | 165 | 0.11 |
Discrete tax items | — | — | — | — | — | (4) | — | — | (4) | (0.00) |
Adjusted | $ 7,246 | $ 4,529 | $ (301) | $ 4,229 | $ 3,726 | $ — | $ 1 | $ 3,725 | $ 2.51 | |
Year Ended December 31, 2023 | ||||||||||
in millions, except per share data | Gross | Operating | Operating | Other | Income | Net | Preferred | Net Income | Net Income | Impact |
Reported | $ 9,896 | $ 7,553 | $ 2,343 | $ (358) | $ 1,985 | $ 1,592 | $ (23) | $ (1) | $ 1,570 | $ 1.07 |
Non-GAAP adjustments: | ||||||||||
Amortization expense | — | (828) | 828 | — | 828 | 713 | — | 4 | 709 | 0.48 |
Intangible asset | — | (58) | 58 | — | 58 | 54 | — | — | 54 | 0.04 |
Acquisition/divestiture- | 53 | (314) | 367 | 6 | 373 | 352 | — | — | 352 | 0.24 |
Restructuring and | 77 | (107) | 185 | — | 185 | 156 | — | — | 156 | 0.11 |
Litigation-related net | — | 111 | (111) | — | (111) | (88) | — | — | (88) | (0.06) |
Investment portfolio net | — | — | — | 21 | 21 | 24 | — | — | 24 | 0.02 |
EU MDR implementation | 47 | (21) | 69 | — | 69 | 59 | — | — | 59 | 0.04 |
Deferred tax expenses | — | — | — | — | — | 155 | — | — | 155 | 0.11 |
Discrete tax items | — | — | — | — | — | 8 | — | — | 8 | 0.01 |
Adjusted | $ 6,335 | $ 3,738 | $ (331) | $ 3,407 | $ 3,025 | $ (23) | $ 4 | $ 2,999 | $ 2.05 | |
(1) For the year ended December 31, 2023, the effect of assuming the conversion of Mandatory Convertible Preferred Stock, Series A MCPS into shares | ||||||||||
An explanation of the company's use of these non-GAAP financial measures is provided at the end of this document. | ||||||||||
Amounts may not foot due to rounding. | ||||||||||
BOSTON SCIENTIFIC CORPORATION
Q1 and FY 2025 GUIDANCE RECONCILIATIONS
(Unaudited)
Net Sales
Q1 2025 Estimate | Full Year 2025 Estimate | ||||
(Low) | (High) | (Low) | (High) | ||
Reported growth | 17.0 % | 19.0 % | 12.5 % | 14.5 % | |
Impact of foreign currency fluctuations | 1.0 % | 1.0 % | 1.0 % | 1.0 % | |
Operational growth | 18.0 % | 20.0 % | 13.5 % | 15.5 % | |
Impact of acquisitions/divestitures | (4.0) % | (4.0) % | (3.5) % | (3.5) % | |
Organic growth | 14.0 % | 16.0 % | 10.0 % | 12.0 % | |
Earnings per Share
Q1 2025 Estimate | Full Year 2025 Estimate | ||||
(Low) | (High) | (Low) | (High) | ||
GAAP results | $ 0.43 | $ 0.45 | $ 1.86 | $ 1.93 | |
Amortization expense | 0.14 | 0.14 | 0.55 | 0.55 | |
Acquisition/divestiture-related net charges (credits) | 0.03 | 0.03 | 0.10 | 0.10 | |
Restructuring and restructuring-related net charges (credits) | 0.03 | 0.03 | 0.11 | 0.11 | |
Other adjustments | 0.04 | 0.04 | 0.17 | 0.17 | |
Adjusted results | $ 0.66 | $ 0.68 | $ 2.80 | $ 2.87 | |
Amounts may not foot 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 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
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 filed 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
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.
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SOURCE Boston Scientific Corporation
FAQ
What were Boston Scientific's (BSX) Q4 2024 earnings results?
How much did Boston Scientific's (BSX) revenue grow in full-year 2024?
What is Boston Scientific's (BSX) guidance for 2025?
Which segment showed the strongest growth for BSX in Q4 2024?
What major acquisitions did Boston Scientific (BSX) complete in Q4 2024?
