Boston Scientific Warns of Fourth-Quarter Sales Shortfall
January 14 2020 - 7:29AM
Dow Jones News
By Colin Kellaher
Boston Scientific Corp. (BSX) Tuesday said its fourth-quarter
sales will fall shy of Wall Street's expectations, but the maker of
medical devices said its profit for the quarter will be in line
with its prior guidance.
Boston Scientific said it expects to report quarterly sales of
$2.9 billion, up 13.4% from $2.56 billion a year earlier but below
the $2.93 billion analysts polled by FactSet were expecting.
The Marlborough, Mass., had previously said it expected sales
growth of 13% to 15% for the quarter.
Boston Scientific said sales were up about 14.1% on an
operational basis for the quarter, near the low end of its guidance
range of 14% to 16%. On an organic basis, sales rose roughly 7.3%,
missing the company's growth forecast of 8% to 9%.
Despite the sales shortfall, Boston Scientific said it still
expects to report adjusted earnings of 42 cents to 45 cents a share
for the quarter. Analysts polled by FactSet, on average, are
expecting an adjusted profit of 44 cents a share.
Boston Scientific shares, which closed Monday at $45.47, fell
nearly 5% in premarket trading Tuesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 14, 2020 07:14 ET (12:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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