Boston Scientific Corporation (NYSE:BSX) reported first-quarter results that slightly exceeded analyst expectations but issued full-year guidance that fell short of forecasts.
The company posted adjusted earnings per share of $0.80, narrowly beating the consensus estimate of $0.79. Revenue reached $5.20 billion, exceeding the $5.17 billion estimate and increasing 11.6% from $4.66 billion in the prior-year period. Organic revenue growth was 9.4%.
Despite the strong quarter, Boston Scientific guided full-year adjusted EPS to a range of $3.34 to $3.41, with the midpoint of $3.38 below the analyst consensus of $3.45.
For the full year, the company projected reported revenue growth of 7.0%–8.5% and organic growth of 6.5%–8.0%.
The Cardiovascular segment led performance, generating $3.50 billion in revenue, up 13.5% reported and 11.2% organically. The MedSurg segment contributed $1.70 billion, growing 7.8% reported and 5.7% organically.
For the second quarter, Boston Scientific expected revenue growth of 5.5%–7.5% and adjusted EPS in the range of $0.82 to $0.84.
