Boston Scientific Beats Sales Estimates, Raises Full-year Outlook

Boston Scientific Corp. said Wednesday it had net income of $228 million, or 17 cents a share, in the third quarter, after a loss of $198 million, or 15 cents a share, in the year-earlier period. Adjusted per-share earnings came to 27 cents, matching the FactSet consensus. Sales rose 11% to $2.105 billion, ahead of the FactSet consensus of $2.068 billion. The company raised its full-year revenue outlook to $8.335 billion to $8.385 billion, up from previous guidance of $8.270 billion to $8.370 billion. The company said it expects EPS of 32 cents to 34 cents, compared with prior guidance of 30 cents to 35 cents, and said it expects adjusted EPS of $1.09 to $1.11, against earlier guidance of $1.07 to $1.11. The FactSet consensus is for full-year EPS of $1.10 and sales of $8.310 billion. Shares were not yet active premarket, but are up 22% in the year so far, while the S&P 500 has gained 4.9%.