Boston Scientific reports 2Q earnings beat on rising MedSurg and Cardiovascular sales

Boston Scientific (NYSE:BSX) has reported second-quarter earnings that beat market expectations due to continued strong growth at its MedSurg and Cardiovascular units, sending its shares higher in pre-market trading. 

The Marlborough, Massachusetts-based medical products company reported net sales of $3.6 billion for the three months to June 30, 2023, up 11% from a year earlier. 

Sales at MedSurg, which includes medical devices designed and manufactured for Endoscopy, and Urology & Women’s Health, increased by 9%, while Cardiovascular sales came in 12.2% higher. 

Sales growth was strongest in the Asia-Pacific region, with Latin America and Canada also showing good momentum. 

Adjusted earnings per share (EPS) rose 20% to $0.53, ahead of the consensus forecast of $0.49. 

“We had another quarter of excellent results fueled by our innovative portfolio, strong commercial execution and the high performance of our global team,” chairman and CEO Mike Mahoney said in a statement.

“We are excited about our long-term outlook and robust pipeline of unique innovations to address unmet patient needs.”

The company now expects full-year 2023 sales to be 10.5% to 11.5% up on 2022, resulting in adjusted EPS of between $1.96 and $2.  

Its shares rose 1.9% to $53.40 in pre-market training. 

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