Boston Scientific Warns of Fourth-Quarter Sales Shortfall

Date : 01/14/2020 @ 12:29PM
Source : Dow Jones News
Stock : Boston Scientific Corp (BSX)
Quote : 43.835  0.385 (0.89%) @ 3:27PM
Boston Scientific share price Chart

Boston Scientific Warns of Fourth-Quarter Sales Shortfall

Boston Scientific (NYSE:BSX)
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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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