BOSTON SCIENTIFIC CORP (BSX) Earnings History

BOSTON SCIENTIFIC CORP - Q3 2025 Earnings

Filed at: Oct 21, 2025, 8:00 PM EDT|Read from source

EXECUTIVE SUMMARY

Boston Scientific delivered an exceptional third quarter of 2025 with strong performance across businesses and regions, exceeding guidance for both net sales and EPS, driven by category leadership and innovation.

POSITIVE HIGHLIGHTS

  • •

    Net sales of $5.065 billion grew 20.3% on a reported basis, exceeding guidance of 17-19%.

    positive
  • •

    GAAP EPS of $0.51 exceeded guidance of $0.44-$0.46.

    positive
  • •

    Adjusted EPS of $0.75 exceeded guidance of $0.70-$0.72.

    positive
  • •

    Cardiovascular segment net sales grew 22.4% reported, 21.5% operational, and 19.4% organic.

    positive
  • •

    U.S. net sales grew 27.0% reported and operational.

    positive

CONCERNS & RISKS

  • •

    Discontinuation of worldwide sales for ACURATE neo2™ and ACURATE Prime™ Aortic Valve Systems, which had prior year global sales of approximately $50 million per quarter.

    attention
  • •

    Organic net sales growth in MedSurg was 7.6%, significantly lower than Cardiovascular's 19.4%.

    attention
  • •

    EMEA reported net sales grew only 2.6% and declined 2.0% operationally.

    negative
  • •

    Organic net sales growth in Urology was 5.4%, impacted by a 22.1% divestiture impact.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$5.07B
+20.3%
Prior year: $4.21B
Annual (YTD)
$14.79B
N/A
Prior year: $12.19B
Net Income
Quarterly
$755.00M
+61.0%
Prior year: $469.00M
Annual (YTD)
$2.23B
N/A
Prior year: $1.29B
EPS (Diluted)
Quarterly
$0.51
+59.4%
Prior year: $0.32
Annual (YTD)
$1.49
N/A
Prior year: $0.87
Operating Income
Quarterly
$1.05B
+43.0%
Prior year: $733.00M
Annual (YTD)
$2.79B
N/A
Prior year: $1.93B
EPS (Basic)
Quarterly
$0.51
+59.4%
Prior year: $0.32
Annual (YTD)
$1.50
N/A
Prior year: $0.88

MARGIN ANALYSIS

Gross Margin
Current Quarter
69.9%
Prior Year
68.8%
YoY Change
+108 bps
Operating Margin
Current Quarter
20.7%
Prior Year
17.4%
YoY Change
+328 bps
Net Margin
Current Quarter
14.9%
Prior Year
11.1%
YoY Change
+377 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

MANAGEMENT GUIDANCE

FY 2025

revenue
$20.0M
"Reported growth (approximate)"
revenue
$15.5M
"Organic growth (approximate)"
eps_diluted
$1.97—$2.01
Mid-point: $1.99
"GAAP basis"
eps_diluted
$3.02—$3.04
Mid-point: $3.03
"Adjusted basis"

Q4 2025

revenue
$14.5M—$16.5M
Mid-point: $15.5M
"Reported growth"
revenue
$11.0M—$13.0M
Mid-point: $12.0M
"Organic growth"
eps_diluted
$0.48—$0.52
Mid-point: $0.50
"GAAP basis"
eps_diluted
$0.77—$0.79
Mid-point: $0.78
"Adjusted basis"

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

SPECIAL ITEMS & ADJUSTMENTS

Q3 2025
Acquisition/divestiture-related net charges (credits)
Adjusted out of EPS
+$99M
$0.06 per share
Q3 2025
Restructuring and restructuring-related net charges (credits)
Adjusted out of EPS
+$36M
$0.02 per share
Q3 2025
EU MDR implementation costs
Adjusted out of EPS
+$11M
$0.01 per share
Q3 2025
Deferred tax expenses (benefits)
Adjusted out of EPS
+$47M
$0.03 per share
Q3 2024
Acquisition/divestiture-related net charges (credits)
Adjusted out of EPS
+$143M
$0.13 per share
Q3 2024
Restructuring and restructuring-related net charges (credits)
Adjusted out of EPS
+$52M
$0.03 per share
Q3 2024
EU MDR implementation costs
Adjusted out of EPS
+$13M
$0.01 per share
Q3 2024
Deferred tax expenses (benefits)
Adjusted out of EPS
+$38M
$0.03 per share
Total Impact
+$439M$0.32 per share

Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.

MANAGEMENT COMMENTARY

Delivered another exceptional quarter of strong performance across businesses and regions.

— BOSTON SCIENTIFIC CORP, Q3 2025 2025 Earnings Call

Well-positioned for differentiated growth fueled by category leadership strategy.

— BOSTON SCIENTIFIC CORP, Q3 2025 2025 Earnings Call

Relentless focus on innovation and commitment to scaling capabilities.

— BOSTON SCIENTIFIC CORP, Q3 2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Cardiovascular Organic Growth
19.4
percent
Endoscopy Organic Growth
9
percent
Medsurg Organic Growth
7.6
percent
Neuromodulation Organic Growth
8.6
percent
Peripheral Interventions Organic Growth
6.3
percent
Urology Organic Growth
5.4
percent

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.

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