Medical device maker Boston Scientific Corp. increased its full-year earnings by 17 percent in 2018, beating Wall Street estimates.

For the final quarter of 2018, the maker of vascular and heart devices had EPS of 39 cents, beating analysts’ consensus expectations by two cents. Quarterly revenue of $2.56 billion was in line with pre-announced revenue, climbing 7 percent organically over the same quarter last year.

“Meaningful innovation and focused execution helped us deliver strong financial results in 2018,” chief executive Mike Mahoney said in a news release. “We remain driven by the opportunity to help more patients with our life-changing technologies, including a robust long-term pipeline of new devices and therapies.”

The Massachusetts-based company saw organic quarterly revenue growth in all three of its business segments, including 7.7 percent growth in cardiovascular device sales, 6.6 percent in heart-rhythm and neuromodulation devices, and 6.2 percent in medical/surgical supplies.

Total revenue in 2018 stopped just shy of the $10 billion mark, climbing 8 percent on an organic basis to $9.8 billion. Full year adjusted net income was $2 billion, an increase of almost 18 percent. Full year EPS of $1.47 climbed 17 percent compared to 2017.

Looking ahead, Boston Scientific said it expects to increase its organic revenue by 7 percent to 8.5 percent for the full year of 2019, excluding foreign currency fluctuations. That revenue growth will help generate adjusted earnings in a range of $1.53 to $1.58 per share.

For the first quarter of 2019, Boston Scientific guided to revenue growth of 7 percent to 8 percent, and adjusted EPS of 35 cents to 36 cents per share.


Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.

filed under: