Boston Scientific says preliminary Q4 revenue up 13.4%, missing estimates

Boston Scientific announced on Tuesday preliminary results for the fourth-quarter of 2019, with sales rising 13.4% year-on-year to approximately $2.9 billion, falling short of analyst estimates of $2.93 billion. Boston Scientific had previously guided for revenue growth of between 13% and 15%.

For the full year, preliminary results indicated that sales rose 9.3% year-over-year to around $10.7 billion, with the Boston Scientific previously guiding for growth in the range of 9% to 9.5%. Shares in the company fell as much as 6.3% on the news.

See below for other preliminary results for the fourth quarter:

  • Cardiovascular: $1.2 billion, up 18.7%
    • Interventional cardiology: $750 million, up 12.1%
    • Peripheral interventions: $400 million, up 33.2%
  • MedSurg: $880 million, up 9.8%
    • Endoscopy: $500 million, up 8.8%
    • Urology and pelvic health: $380 million, up 11.1%
  • Rhythm and Neuro: $820 million, up 3.5%
    • Cardiac rhythm management: $470 million, down 3.3%
    • Neuromodulation: $260 million, up 18.7%
    • Electrophysiology: $80 million, up 3%

Looking ahead, Boston Scientific said that while it "is still conducting financial closing procedures for the fourth quarter and full year," it expects that earnings per share for 2019 will be within the previously issued guidance range of $1.55 to $1.58.

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