The Marlborough, Mass.-based medical device giant posted profits of $555 million, or 40¢ per share, on sales of $2.49 billion for the three months ended June 30, for a whopping bottom-line gain of 280.1% on sales growth of 10.3% compared with Q2 2017.
Adjusted to exclude one-time items, earnings per share were 41¢, 7¢ ahead of the consensus on Wall Street, where analysts were looking for sales of $2.47 billion.
“Our strong sales and EPS growth in the second quarter were fueled by our global team, robust portfolio and diversified business,” chairman & CEO Mike Mahoney said in prepared remarks. “We’re committed to advancing science for life, and we’re excited about the ways our differentiated pipeline will continue to drive our growth and impact on patients, physicians and hospital systems.”
Boston Scientific held fast to its adjusted EPS outlook, saying it still expects to report $1.37 to $1.41 per share this year, but tightened its sales outlook to $9.80 billion to $9.88 billion, compared to prior guidance of $9.75 billion to $9.90 billion.
Third-quarter adjusted EPS are pegged at 33¢ to 35¢ on sales of $2.38 billion to $2.42 billion, the company said.