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LONDON, UK / ACCESSWIRE / February 21, 2018 / Active-Investors.com has just released a free earnings report on Boston Scientific Corp. (NYSE: BSX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BSX. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 01, 2018. The medical device maker topped revenue estimates, while earnings were in-line with market expectations. The Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
Boston Scientific generated sales of $2.41 billion during the fourth quarter ended December 31, 2017, representing a growth of 9.9% compared to $2.19 billion for Q4 2016. The strong top-line exceeded the Company's guidance range of $2.345 billion to $2.375 billion, due to outperformance across the majority of its businesses and regions. Boston Scientific's revenue numbers topped analysts' estimates of $2.38 billion.
During Q4 2017, Boston Scientific's adjusted gross margin was 72.6%, and was flat compared to the prior year's same period, but more importantly offset a negative 200-basis point y-o-y impact from foreign exchange, benefitting from operational improvements and manufacturing cost reductions, as well as a favorable product mix. In Q4 2017, the Company's adjusted operating margin of 25.6% increased 190 basis points y-o-y.
Boston Scientific reported a GAAP loss of $615 million, or $0.45 loss per share, primarily related to its estimates of a one-time net income tax charge resulting from the enactment of the Tax Cuts and Jobs Act 2017 (TCJA), compared to GAAP earnings of $124 million, or $0.09 per share, in Q4 2016. The Company achieved adjusted earnings per share (EPS) of $0.34 for the reported quarter versus $0.30 in the year ago comparable period, and which were in-line with Wall Street's estimates of $0.34.
For the year ended December 31, 2017, Boston Scientific recorded sales of $9.05 billion, representing a 7.9% revenue growth on a reported basis, from $8.39 billion in FY16.
For FY17, Boston Scientific reported GAAP earnings of $104 million, or $0.08 per share, compared to $347 million, or $0.25 per share, in Q4 2016; and delivered full year adjusted EPS of $1.26 compared to $1.11 in FY16.
During Q4 2017, Boston Scientific's Cardiovascular segment recorded sales of $3.50 billion, up 6.3% compared to $3.29 billion in Q4 2016.
In the reported quarter, the Company's Rhythm Management segment's sales totaled $2.17 billion versus $2.09 billion in the year earlier corresponding quarter, reflecting a growth of 3.9% on a y-o-y basis.
For Q4 2017, Boston Scientific's Medsurg segment's net sales advanced 12.5% to $3.38 billion versus $3.00 billion in Q4 2016.
Boston Scientific's adjusted free cash flow was $1.73 billion in FY17, representing a y-o-y growth of 7%, but fell slightly short of its $1.75 billion cash flow guidance. Boston Scientific's capital expenditure totaled $319 million for FY17, in-line with its $320 million target.
For the full year 2018, Boston Scientific is forecasting revenues to be in a range of $9.65 billion to $9.80 billion, representing a growth range of approximately 7% to 8% on a y-o-y basis. The Company is estimating income per share on a GAAP basis in a range of $0.93 to $0.98, and adjusted EPS, excluding amortization expenses, acquisition- and restructuring-related net credits (charges), in the band of $1.35 to $1.39.
For Q1 2018, Boston Scientific is projecting sales to be in a range of $2.32 billion to $2.35 billion, reflecting a growth range of approximately 7% to 9% on a reported basis. The Company is expecting GAAP EPS in the band of $0.19 to $0.22, and adjusted EPS, excluding amortization expenses, acquisition- and restructuring-related net credits (charges) in the band of $0.30 to $0.32.
Stock Performance Snapshot
February 20, 2018 - At Tuesday's closing bell, Boston Scientific's stock declined 1.36%, ending the trading session at $26.83.
Volume traded for the day: 7.04 million shares.
Stock performance in the past twelve-month period – up 5.67%; and year-to-date – up 8.23%
After yesterday's close, Boston Scientific's market cap was at $36.69 billion.
Price to Earnings (P/E) ratio was at 38.55.
The stock is part of the Healthcare sector, categorized under the Medical Appliances & Equipment industry.
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