Boston Scientific has posted GAAP net income attributable to its common stockholders of $261m or $0.18 earnings per share in Q2 2023, a 6% increase over $246m recorded during the same period last year.
In Q2 2023, the company reported net sales of approximately $3.6bn, witnessing 11% growth on a reported basis, 12% on an operational basis and 11.6% on an organic basis, compared with $3.2bn in the same period in the previous year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
During the quarter, the company’s operating expenses totalled $2.02bn as against the previous year’s expenses of $1.81bn.
Its MedSurg segment posted net sales growth of 9% on a reported basis, as well as 9.6% and 8.8% on an operational and organic basis, respectively during the latest quarter. The cardiovascular saw 12.2% net sales growth on reported and 13.4% operational and organic basis, respectively.
For the first half (H1) of 2023, the company reported net sales of almost $7bn as against $6.2bn in the same period of 2022.
The net income attributable to common stockholders in H1 2023 stood at $561m, as against $342m in H1 2022.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataBoston anticipates net sales to see a growth range of approximately 8.5% to 10.5% on a reported basis and 7% to 9% on an organic basis in Q3 2023.
For the full year, it expects net sales to grow approximately 10.5% to 11.5% on a reported basis and roughly 10% to 11% organically.
Boston Scientific chairman and CEO Mike Mahoney said: “We had another quarter of excellent results fueled by our innovative portfolio, strong commercial execution and the high performance of our global team.
“We are excited about our long-term outlook and robust pipeline of unique innovations to address unmet patient needs.”
