Boston Scientific (NYSE:BSX) posted fourth-quarter results that beat the earnings consensus on Wall Street, but missed on revenue.
The Marlborough, Mass.-based company reported profits of $4 billion, or $2.83 per share, on sales of $2.9 billion for the three months ended Dec. 31, 2019, for a bottom-line gain of 935.2% sales growth of 13.43% compared with Q4 2018.
Adjusted to exclude one-time items, earnings per share were 46¢, 2¢ ahead of The Street where analysts were looking for sales of $2.92 billion.
“We delivered strong revenue and adjusted EPS growth for the quarter and the year by developing innovative products, executing on our category leadership strategy and mitigating challenges,” CEO Mike Mahoney said in a news release. “We’re confident that we have the pipeline, leadership team and focused execution to deliver on our goals to address unmet clinical needs and work to improve the lives of millions of patients.”
The coronavirus is expected to have a first-quarter negative sales impact estimate of $10 million to $40 million because of procedure volumes in China and supply chain disruption, according to an SEC filing.
Investors reacted by sending BSX shares up 0.33% to $43.02 apiece in pre-market trading.