Boston Scientific (NYSE:BSX) shares ticked up today in pre-market trading after the medical device maker reported second-quarter earnings that just beat the consensus forecast.
The Marlborough, Mass.-based company posted profits of $154 million, or 11¢ per share, on sales of $2.63 billion for the three months ended June 30, amounting to a -72.3% bottom-line slide compared with Q2 2018, on a 5.7% sales gain.
Adjusted to exclude one-time items, earnings per share were 39¢, a penny ahead of Wall Street, where analysts were looking for revenues of $2.64 billion.
“The consistent execution of our global teams continues to help us grow the majority of our businesses faster than the market while delivering adjusted EPS at the high end of guidance,” chairman & CEO Mike Mahoney said in prepared remarks. “As highlighted at our investor day last month, we are excited for our long-term outlook and our robust pipeline of unique innovations to address unmet patient needs.”
Boston Scientific maintained its outlook for the rest of the year, saying it still expects to report adjusted EPS of $1.54 to $1.58 on sales growth of 7% to 8%.
Third-quarter adjusted EPS are pegged at 37¢ to 39¢, on sales growth of 8% to 10%, the company said.
BSX shares were up 1.9% to $43.70 apiece today before the market opened.