On February 5, 2025 Boston Scientific Corporation (NYSE: BSX) reported net sales of $4.561 billion during the fourth quarter of 2024, growing 22.4 percent on a reported basis, 23.1 percent on an operational1 basis and 19.5 percent on an organic2 basis, all compared to the prior year period (Press release, Boston Scientific, FEB 5, 2025, View Source [SID1234650066]). The company reported GAAP net income attributable to Boston Scientific common stockholders of $566 million or $0.38 per share (EPS), compared to $504 million or $0.34 per share a year ago and achieved adjusted3 EPS of $0.70 for the period, compared to $0.55 a year ago.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
For the full year 2024, the company generated net sales of $16.747 billion, growing 17.6 percent on a reported basis, 18.5 percent on an operational1 basis and 16.4 percent on an organic2 basis. The company reported GAAP net income attributable to Boston Scientific common stockholders of $1.853 billion or $1.25 per share, compared to $1.570 billion or $1.07 per share a year ago, and delivered full year adjusted3 EPS of $2.51, compared to $2.05 a year ago.
"2024 was one of the best years in the history of Boston Scientific, fueled by our innovative portfolio, the launch of our FARAPULSE Pulsed Field Ablation System as well as significant clinical achievements and commercial excellence across businesses and regions," said Mike Mahoney, chairman and chief executive officer, Boston Scientific. "We have a strong foundation for growth, and I am incredibly grateful for our talented global team and the opportunity to continue transforming the lives of millions of patients around the world."
Fourth quarter financial results and recent developments:
Reported net sales of $4.561 billion, representing an increase of 22.4 percent on a reported basis, compared to the company’s guidance range of 16.5 to 18.5 percent; 23.1 percent on an operational basis; and 19.5 percent on an organic basis, compared to the company’s guidance range of 14 to 16 percent, all compared to the prior year period.
Reported GAAP net income attributable to Boston Scientific common stockholders of $0.38 per share, compared to the company’s guidance range of $0.41 to $0.43 per share, and achieved adjusted EPS of $0.70 per share, compared to the guidance range of $0.64 to $0.66 per share.
Achieved the following net sales growth in each reportable segment, compared to the prior year period:
MedSurg: 12.4 percent reported, 13.0 percent operational and 7.0 percent organic
Cardiovascular: 28.8 percent reported, 29.5 percent operational and 27.4 percent organic
Achieved the following net sales growth in each region, compared to the prior year period:
United States (U.S.): 30.7 percent reported and operational
Europe, Middle East and Africa (EMEA): 10.8 percent reported and 11.6 percent operational
Asia-Pacific (APAC): 11.1 percent reported and 12.4 percent operational
Latin America and Canada (LACA): 4.6 percent reported and 12.6 percent operational
Emerging Markets4: 12.4 percent reported and 15.2 percent operational
Presented positive 36-month primary endpoint findings from the OPTION clinical trial at the American Heart Association Scientific Sessions demonstrating superior bleeding risk reduction and similar efficacy with the WATCHMAN FLX Left Atrial Appendage Closure Device compared to oral anticoagulation in high-risk patients with atrial fibrillation (AF) post ablation, followed by a late-breaking sub-analysis at AF Symposium 2025 reaffirming positive outcomes with the device in both concomitant and sequential procedures.
Presented positive 12-month primary endpoint findings from phase one of the ADVANTAGE AF clinical trial at AF Symposium 2025 that achieved the safety and effectiveness endpoints for the treatment of patients with persistent AF with the FARAPULSE Pulsed Field Ablation System.
Received U.S. Centers for Medicare & Medicaid Services approval of a new transitional pass-through payment for the AGENT Drug-Coated Balloon effective Jan. 1, 2025, which offers facilities additional reimbursement for outpatient procedures.
Received both U.S. Food and Drug Administration (FDA) approval and CE mark for the Vercise Cartesia X and HX Directional Leads, the first and only 16-contact directional leads designed for more precise targeting for enhanced clinical outcomes using the Vercise Genus Deep Brain Stimulation System.
Completed the acquisition of Axonics, Inc., an innovative medical technology company focused on the development and commercialization of differentiated devices for the treatment of urinary and bowel dysfunction.
Announced and completed the acquisition of Cortex, Inc., a privately held medical technology company focused on the development of a diagnostic mapping solution which aims to identify triggers and drivers outside of the pulmonary veins that are foundational to AF.
Announced agreements to acquire the following companies, subject to customary closing conditions:
Bolt Medical, Inc., a developer of an intravascular lithotripsy advanced laser-based platform for the treatment of coronary and peripheral artery disease which is pending U.S. FDA approval.
Intera Oncology Inc., a medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine, a chemotherapy drug.
1 Operational net sales growth excludes the impact of foreign currency fluctuations.
2 Organic net sales growth excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales.
3 Adjusted EPS excludes the impacts of certain charges (credits) which may include amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), investment portfolio net losses (gains) and impairments, restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits), European Union Medical Device Regulation (EU MDR) implementation costs, debt extinguishment net charges, deferred tax expenses (benefits) and certain discrete tax items.
4 Periodically, we assess our list of Emerging Markets countries, and effective January 1, 2023, modified our list to include all countries except the United States, Western and Central Europe, Japan, Australia, New Zealand and Canada.
Fourth quarter net sales by business and region:
Increase/(Decrease)
Three Months Ended
December 31,
Reported
Basis
Impact of
Foreign
Currency
Fluctuations
Operational
Basis
Impact of
Recent
Acquisitions/
Divestitures
Organic
Basis
(in millions)
2024
2023
Endoscopy
$ 690
$ 645
7.0 %
0.6 %
7.6 %
(0.7) %
7.0 %
Urology
630
527
19.5 %
0.5 %
20.1 %
(12.2) %
7.9 %
Neuromodulation
299
269
11.4 %
0.5 %
11.9 %
(6.4) %
5.5 %
MedSurg
1,619
1,441
12.4 %
0.6 %
13.0 %
(6.0) %
7.0 %
Cardiology
2,297
1,751
31.1 %
0.8 %
31.9 %
— %
31.9 %
Peripheral Interventions
645
533
21.0 %
0.8 %
21.7 %
(9.2) %
12.5 %
Cardiovascular
2,942
2,285
28.8 %
0.8 %
29.5 %
(2.2) %
27.4 %
Net Sales
$ 4,561
$ 3,725
22.4 %
0.7 %
23.1 %
(3.6) %
19.5 %
Increase/(Decrease)
Three Months Ended
December 31,
Reported
Basis
Impact of
Foreign
Currency
Fluctuations
Operational
Basis
(in millions)
2024
2023
U.S.
$ 2,893
$ 2,213
30.7 %
— %
30.7 %
EMEA
830
749
10.8 %
0.9 %
11.6 %
APAC
684
616
11.1 %
1.2 %
12.4 %
LACA
155
148
4.6 %
8.0 %
12.6 %
Net Sales
$ 4,561
$ 3,725
22.4 %
0.7 %
23.1 %
Emerging Markets4
$ 668
$ 595
12.4 %
2.8 %
15.2 %
Amounts may not foot due to rounding. Growth rates are based on actual, non-rounded amounts and may not recalculate precisely.
Net sales growth rates that exclude the impact of foreign currency fluctuations and/or the impact of acquisitions/divestitures are not prepared in
accordance with GAAP.
Full year net sales by business and region:
Increase/(Decrease)
Year Ended
December 31,
Reported
Basis
Impact of
Foreign
Currency
Fluctuations
Operational
Basis
Impact of
Recent
Acquisitions /
Divestitures
Organic
Basis
(in millions)
2024
2023
Endoscopy
$ 2,687
$ 2,482
8.3 %
0.6 %
8.9 %
(1.0) %
8.0 %
Urology
2,200
1,964
12.0 %
0.5 %
12.5 %
(3.3) %
9.3 %
Neuromodulation
1,106
976
13.3 %
0.4 %
13.7 %
(11.0) %
2.7 %
MedSurg
5,993
5,422
10.5 %
0.6 %
11.1 %
(3.6) %
7.5 %
Cardiology
8,344
6,709
24.4 %
1.0 %
25.4 %
— %
25.4 %
Peripheral Interventions
2,410
2,110
14.2 %
1.2 %
15.5 %
(4.6) %
10.9 %
Cardiovascular
10,755
8,819
22.0 %
1.1 %
23.0 %
(1.1) %
21.9 %
Net Sales
$ 16,747
$ 14,240
17.6 %
0.9 %
18.5 %
(2.1) %
16.4 %
Increase/(Decrease)
Year Ended
December 31,
Reported
Basis
Impact of
Foreign
Currency
Fluctuations
Operational
Basis
(in millions)
2024
2023
U.S.
$ 10,210
$ 8,425
21.2 %
— %
21.2 %
EMEA
3,228
2,856
13.0 %
0.8 %
13.8 %
APAC
2,686
2,400
11.9 %
3.7 %
15.7 %
LACA
624
560
11.4 %
2.6 %
14.1 %
Net Sales
$ 16,747
$ 14,240
17.6 %
0.9 %
18.5 %
Emerging Markets4
$ 2,680
$ 2,310
16.1 %
3.6 %
19.6 %
Amounts may not foot due to rounding. Growth rates are based on actual, non-rounded amounts and may not recalculate precisely.
Net sales growth rates that exclude the impact of foreign currency fluctuations and/or the impact of acquisitions/divestitures are not prepared in
accordance with U.S. GAAP.
Guidance for Full Year and First Quarter 2025
The company estimates net sales growth for the full year 2025, versus the prior year period, to be in a range of approximately 12.5 to 14.5 percent on a reported basis, and approximately 10 to 12 percent on an organic basis. Full year organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales. The company estimates EPS on a GAAP basis in a range of $1.86 to $1.93 and estimates adjusted EPS, excluding certain charges (credits), of $2.80 to $2.87.
The company estimates net sales growth for the first quarter of 2025, versus the prior year period, to be in a range of approximately 17 to 19 percent on a reported basis, and approximately 14 to 16 percent on an organic basis. First quarter organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales. The company estimates EPS on a GAAP basis in a range of $0.43 to $0.45 and estimates adjusted EPS, excluding certain charges (credits), of $0.66 to $0.68.
Conference Call Information
Boston Scientific management will be discussing these results with analysts on a conference call today at 8:00 a.m. ET. The company will webcast the call to interested parties through its website: investors.bostonscientific.com. Please see the website for details on how to access the webcast. The webcast will be available for approximately one year on the Boston Scientific website.