Boston Scientific announces results for third quarter 2026
Marlborough, Mass. (October 28, 2026) -- Boston Scientific Corporation (NYSE: BSX) generated net sales of $5.138 billion during the third quarter of 2026, growing 1.5 percent on a reported, operational 1 and organic 2 basis, all compared to the prior year period. The company reported GAAP net income attributable to Boston Scientific common stockholders of $582 million or $0.40 per share (EPS), compared to $755 million or $0.51 per share a year ago, and achieved adjusted 3 EPS of $0.73 for the period, compared to $0.75 a year ago.
"This has been a challenging year for Boston Scientific and I’m proud of how our global teams have responded, particularly to the cybersecurity incident, working with urgency and resilience to restore operations and continue supporting customers and patients," said Mike Mahoney, chairman and chief executive officer, Boston Scientific. "As we move forward, I remain confident in our long- term strategy, fueled by our dedicated talent, differentiated portfolio and strong pipeline of meaningful innovation."
• Reported net sales of $5.138 billion, representing an increase of 1.5 percent on a reported, operational and organic basis, all compared to the prior year period.
• Reported GAAP net income attributable to Boston Scientific common stockholders of $0.40 per share, and achieved adjusted EPS of $0.73 per share.
• Achieved the following net sales growth in each reportable segment, compared to the prior year period:
• Achieved the following net sales growth/(decline) in each region, compared to the prior year period:
◦ Europe, Middle East and Africa (EMEA): 4.4 percent reported and 6.1 percent operational
◦ Latin America and Canada (LACA): 16.0 percent reported and 10.5 percent operational
• Commenced enrollment in the Elite AF clinical trial to evaluate the safety and effectiveness of the next-generation WATCHMAN Elite™ Left Atrial Appendage Closure Device in patients with non-valvular atrial fibrillation who are eligible for anticoagulation therapy to reduce their risk of stroke and who have a rationale to seek a non-pharmacologic alternative.
• Received U.S. Food and Drug Administration (FDA) 510(k) clearance for two technologies within the StoneSmart™ Solutions ecosystem, including the
, designed to enable the use of suction to remove kidney stone debris, and the LithoVue™ Elite Single-Use Digital Flexible Ureteroscope with temperature sensing , designed to display real-time fluid temperature alongside ureteroscopy video for procedural monitoring.
• Received U.S. FDA 510(k) clearance for an expanded size offering of the SEISMIQ™ Intravascular Lithotripsy Peripheral Catheter to treat patients with severely calcified peripheral artery disease both above and below the knee.
• Recognized the American Medical Association's assignment of Category I Current Procedural Terminology (CPT®) codes for renal denervation devices, such as the investigational
to advance AI-powered, computed tomography (CT)-guided planning for percutaneous coronary intervention (PCI) procedures and explore integration of Heartflow's PCI Navigator pre-procedural planning tool and the
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 certain acquisitions and divestitures for which there are less than a full period of comparable net sales.
3. Adjusted EPS excludes the impact of certain charges (credits) as defined below within the "Use of Non-GAAP Financial Measures" section. Net sales for the third quarter by business and region:
The company now estimates net sales growth for the full year 2026, versus the prior year period, to be approximately 4.25 percent on a reported basis and approximately 3.75 percent on an organic basis. Full year organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and divestitures for which there are less than a full period of comparable net sales. The company now estimates adjusted EPS, excluding certain charges (credits), of $3.16 to $3.18.
The company estimates net sales to decline in the fourth quarter of 2026, versus the prior year period, by approximately (3.0) to (1.0) percent on a reported and organic basis. Fourth quarter organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and
divestitures for which there are less than a full period of comparable net sales. The company estimates adjusted EPS, excluding certain charges (credits), of $0.77 to $0.79.
The company has not provided reconciliations of the forward-looking adjusted EPS guidance to GAAP guidance as it is unable to predict with reasonable certainty and without unreasonable efforts the impact of certain items such as intangible asset impairment charges, acquisition-related charges, restructuring and restructuring-related charges and litigation-related charges. The combined impact of these items is uncertain, dependent on various factors and cannot be predicted with reasonable certainty, and could be material to our GAAP measures of financial results.
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.
Boston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 45 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of healthcare. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at www.bostonscientific.com and follow us on LinkedIn .
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "may," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our expected net sales; reported, operational and organic revenue growth rates; adjusted EPS for the fourth quarter and full year 2026; our financial performance; impacts of the August 2026 cybersecurity incident; acquisitions; clinical trials; our business plans and product performance; and new and anticipated product approvals and launches. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
Risks and uncertainties that may cause such differences include, among other things: economic conditions, including the impact of foreign currency fluctuations; future U.S. and global political, competitive, reimbursement and regulatory conditions, including changing trade and tariff policies; geopolitical conflicts and tensions; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events, including the impacts of the cybersecurity incident first reported on August 26, 2026 on our operations and financial results; disruptions caused by public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; variations in outcomes of ongoing and future clinical trials and market studies; new product introductions and the market acceptance of those products; market competition for our products; expected pricing environment; expected procedural volumes; the closing and integration of acquisitions; demographic trends; intellectual property rights; litigation; financial market conditions; the execution and effect of our prior and new restructuring programs; the execution and effect of our business strategy, including our cost-savings and growth initiatives; our ability to achieve sustainability goals; and future business decisions made by us and our competitors. New risks and uncertainties may arise from time to time and are difficult to predict. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A. Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A. Risk Factors in Quarterly
Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements, except as required by law. This cautionary statement is applicable to all forward-looking statements contained in this press release.
: Amounts reported in millions within this press release are computed based on the amounts in thousands. As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying unrounded amounts.
A reconciliation of the company's non-GAAP financial measures to the corresponding GAAP measures, and an explanation of the company's use of these non-GAAP financial measures, is included in the exhibits attached to this press release.
CONTACT: Media: Chanel Hastings Investors: Lauren Tengler 508-382-0288 508-683-4479 (office) (office) Media Relations Investor Relations Boston Scientific Boston Scientific Corporation Corporation chanel.hastings@bsc… BSXInvestorRelation…
To supplement our unaudited consolidated financial statements presented on a GAAP basis, we disclose certain non-GAAP financial measures, including adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share (EPS) that exclude certain charges (credits); operational net sales, which exclude the impact of foreign currency fluctuations; and organic net sales, which exclude the impact of foreign currency fluctuations as well as the impact of certain acquisitions and divestitures with less than a full period of comparable net sales. These non-GAAP financial measures are not in accordance with generally accepted accounting principles in the United States and should not be considered in isolation from or as a replacement for the most directly comparable GAAP financial measures. Further, other companies may calculate these non-GAAP financial measures differently than we do, which may limit the usefulness of those measures for comparative purposes.
To calculate adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share, we exclude certain charges (credits) from GAAP net income and GAAP net income attributable to Boston Scientific common stockholders, which 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), litigation-related net charges (credits), European Union (EU) Medical Device Regulation (MDR) implementation costs, debt extinguishment net charges, deferred tax expenses (benefits), discrete tax items and other charges (credits) as appropriate. Amounts are presented after-tax using our effective tax rate, unless the amount is a significant unusual or infrequently occurring item in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 740-270-30, “General Methodology and Use of Estimated Annual Effective Tax Rate.” In addition to the explanation below, please refer to Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission or Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations in any Quarterly Report on Form 10-Q that we have filed or will file thereafter for an explanation of each of these adjustments and the reasons for excluding each item. The following is an explanation of each incremental or revised adjustment type, since our most recent Annual Report on Form 10-K, that management excluded as part of these non-GAAP financial measures as well as the reason for excluding each item:
• Restructuring and restructuring-related net charges (credits) - These adjustments primarily represent severance and other compensation-related charges, fixed asset write-offs, contract cancellations, project management fees, facility shut down costs, costs to transfer manufacturing lines between geographically dispersed facilities and other direct costs associated with our restructuring plans. These restructuring plans each consist of distinct initiatives that are fundamentally different from our ongoing, core cost reduction initiatives in terms of, among other things, the frequency with which each action is performed and the required planning, resourcing, cost and timing. Examples of such initiatives include the movement of business activities, facility consolidations and closures and the transfer of product lines between manufacturing facilities, which, due to the highly regulated nature of our industry, requires a significant investment in time and cost to create duplicate manufacturing lines, run product validations and seek regulatory approvals. Restructuring plans take place over a defined timeframe and have a distinct project timeline that requires, and begins subsequent to, approval by our Board of Directors. In contrast to our ongoing cost reduction initiatives, restructuring plans typically result in duplicative cost and exit costs over the defined timeframe and are not considered part of our core, ongoing operations. In addition, we may incur certain charges such as severance and other compensation-related charges, fixed asset write-offs, contract cancellations, facility shutdown costs, and inventory write-downs associated with discontinuations of significant product lines. These restructuring plans and activities are incremental to the core activities that arise in the ordinary course of our business. Restructuring and restructuring-related net charges (credits) are excluded from management's assessment of operating performance and from our operating segments' measures of profit and loss used for making operating decisions and assessing performance.
• Deferred tax expenses (benefits) - These amounts represent significant non- cash tax benefits arising from internal reorganizations or intra-entity asset transfers. The deferred tax effects related to the establishment and subsequent reversal of net deferred tax assets are excluded from management's assessment of operating performance used for making operating decisions and assessing performance.
• IEEPA tariff refund - This amount relates to the benefit recognized in connection with the recovery of previously incurred tariffs imposed under the International Emergency Economic Powers Act (IEEPA) recognized in Cost of products sold within our unaudited consolidated statements of operations. This amount is excluded from management's assessment of operating performance used for making operating decisions and assessing performance. The GAAP financial measures most directly comparable to adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share are GAAP net income (loss), GAAP net income (loss) attributable to Boston Scientific common stockholders and GAAP net income (loss) per common share - diluted, respectively. To calculate operational net sales growth rates, which exclude the impact of foreign currency fluctuations, we convert actual net sales from local currency to U.S. dollars using constant foreign currency exchange rates in the current and prior periods. To calculate organic net sales growth rates, we also remove the impact of certain acquisitions and divestitures with less than a full period of comparable net sales. The GAAP financial measure most directly comparable to operational net sales and organic net sales is net sales reported on a GAAP basis.
Reconciliations of each of these non-GAAP financial measures to the corresponding GAAP financial measure are included in the accompanying schedules.
Management uses these supplemental non-GAAP financial measures to evaluate performance period over period, to analyze the underlying trends in our business, to assess our performance relative to our competitors and to establish operational goals and forecasts that are used in allocating resources. In addition, management uses these non-GAAP financial measures to further its understanding of the performance of our operating segments. The adjustments excluded from our non-GAAP financial measures are consistent with those excluded from our operating segments’ measures of net sales and profit or loss. These adjustments are excluded from the segment measures reported to our chief operating decision maker that are used to make operating decisions and assess performance.
We believe that presenting adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders, adjusted net income (loss) per share, operational and organic net sales growth rates, in addition to the corresponding GAAP financial measures, provides investors greater transparency to the information used by management for its operational decision-making and allows investors to see our results “through the eyes” of management. We further believe that providing this information assists our investors in understanding our operating performance and the methodology used by management to evaluate and measure such performance.
Full text with the tables
FOR IMMEDIATE RELEASE
Boston Scientific announces results for third quarter 2026
Marlborough, Mass. (October 28, 2026) -- Boston Scientific Corporation (NYSE:
BSX) generated net sales of $5.138 billion during the third quarter of 2026,
growing 1.5 percent on a reported, operational 1 and organic 2 basis, all
compared to the prior year period. The company reported GAAP net income
attributable to Boston Scientific common stockholders of $582 million or $0.40
per share (EPS), compared to $755 million or $0.51 per share a year ago, and
achieved adjusted 3 EPS of $0.73 for the period, compared to $0.75 a year ago.
"This has been a challenging year for Boston Scientific and I’m proud of how our
global teams have responded, particularly to the cybersecurity incident, working
with urgency and resilience to restore operations and continue supporting
customers and patients," said Mike Mahoney, chairman and chief executive
officer, Boston Scientific. "As we move forward, I remain confident in our long-
term strategy, fueled by our dedicated talent, differentiated portfolio and
strong pipeline of meaningful innovation."
Third quarter financial results and recent developments:
• Reported net sales of $5.138 billion, representing an increase of 1.5 percent
on a reported, operational and organic basis, all compared to the prior year
period.
• Reported GAAP net income attributable to Boston Scientific common stockholders
of $0.40 per share, and achieved adjusted EPS of $0.73 per share.
• Achieved the following net sales growth in each reportable segment, compared
to the prior year period:
◦ MedSurg: 0.6 percent reported, 0.7 percent operational and organic
◦ Cardiovascular: 1.9 percent reported, operational and organic
• Achieved the following net sales growth/(decline) in each region, compared to
the prior year period:
◦ United States (U.S.): 0.5 percent reported and operational
◦ Europe, Middle East and Africa (EMEA): 4.4 percent reported and 6.1 percent
operational
◦ Asia-Pacific (APAC): (0.6) percent reported and (1.1) percent operational
◦ Latin America and Canada (LACA): 16.0 percent reported and 10.5 percent
operational
• Commenced enrollment in the Elite AF clinical trial to evaluate the safety and
effectiveness of the next-generation WATCHMAN Elite™ Left Atrial Appendage
Closure Device in patients with non-valvular atrial fibrillation who are
eligible for anticoagulation therapy to reduce their risk of stroke and who have
a rationale to seek a non-pharmacologic alternative.
• Received U.S. Food and Drug Administration (FDA) 510(k) clearance for two
technologies within the StoneSmart™ Solutions ecosystem, including the
Navigator™ Flex Ureteral Access Sheath Set
, designed to enable the use of suction to remove kidney stone debris, and the
LithoVue™ Elite Single-Use Digital Flexible Ureteroscope with temperature
sensing , designed to display real-time fluid temperature alongside ureteroscopy
video for procedural monitoring.
• Received U.S. FDA 510(k) clearance for an expanded size offering of the
SEISMIQ™ Intravascular Lithotripsy Peripheral Catheter to treat patients with
severely calcified peripheral artery disease both above and below the knee.
• Recognized the American Medical Association's assignment of Category I Current
Procedural Terminology (CPT®) codes for renal denervation devices, such as the
investigational
TIVUS™ Renal Denervation
System,
and implantable tibial nerve stimulation (ITNS) devices, including the
eCoin® ITNS System
, effective January 2028.
• Entered into a strategic collaboration with
Heartflow, Inc. (Nasdaq: HTFL)
to advance AI-powered, computed tomography (CT)-guided planning for percutaneous
coronary intervention (PCI) procedures and explore integration of Heartflow's
PCI Navigator pre-procedural planning tool and the
AVVIGO™+ Multi-Modality Guidance System
.
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 certain acquisitions and divestitures for which
there are less than a full period of comparable net sales.
3. Adjusted EPS excludes the impact of certain charges (credits) as defined
below within the "Use of Non-GAAP Financial Measures" section.
Net sales for the third quarter by business and region:
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Guidance for Full Year and Fourth Quarter 2026
The company now estimates net sales growth for the full year 2026, versus the
prior year period, to be approximately 4.25 percent on a reported basis and
approximately 3.75 percent on an organic basis. Full year organic net sales
guidance excludes the impact of foreign currency fluctuations and net sales
attributable to certain acquisitions and divestitures for which there are less
than a full period of comparable net sales. The company now estimates adjusted
EPS, excluding certain charges (credits), of $3.16 to $3.18.
The company estimates net sales to decline in the fourth quarter of 2026, versus
the prior year period, by approximately (3.0) to (1.0) percent on a reported and
organic basis. Fourth quarter organic net sales guidance excludes the impact of
foreign currency fluctuations and net sales attributable to certain acquisitions
and
divestitures for which there are less than a full period of comparable net
sales. The company estimates adjusted EPS, excluding certain charges (credits),
of $0.77 to $0.79.
The company has not provided reconciliations of the forward-looking adjusted EPS
guidance to GAAP guidance as it is unable to predict with reasonable certainty
and without unreasonable efforts the impact of certain items such as intangible
asset impairment charges, acquisition-related charges, restructuring and
restructuring-related charges and litigation-related charges. The combined
impact of these items is uncertain, dependent on various factors and cannot be
predicted with reasonable certainty, and could be material to our GAAP measures
of financial results.
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.
About Boston Scientific
Boston Scientific transforms lives through innovative medical technologies that
improve the health of patients around the world. As a global medical technology
leader for more than 45 years, we advance science for life by providing a broad
range of high-performance solutions that address unmet patient needs and reduce
the cost of healthcare. Our portfolio of devices and therapies helps physicians
diagnose and treat complex cardiovascular, respiratory, digestive, oncological,
neurological and urological diseases and conditions. Learn more at
www.bostonscientific.com and follow us on LinkedIn .
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements may be identified by words like
"anticipate," "expect," "project," "believe," "plan," "estimate," "may,"
"intend" and similar words. These forward-looking statements are based on our
beliefs, assumptions and estimates using information available to us at the time
and are not intended to be guarantees of future events or performance. These
forward-looking statements include, among other things, statements regarding our
expected net sales; reported, operational and organic revenue growth rates;
adjusted EPS for the fourth quarter and full year 2026; our financial
performance; impacts of the August 2026 cybersecurity incident; acquisitions;
clinical trials; our business plans and product performance; and new and
anticipated product approvals and launches. If our underlying assumptions turn
out to be incorrect, or if certain risks or uncertainties materialize, actual
results could vary materially from the expectations and projections expressed or
implied by our forward-looking statements. These factors, in some cases, have
affected and in the future (together with other factors) could affect our
ability to implement our business strategy and may cause actual results to
differ materially from those contemplated by the statements expressed in this
press release. As a result, readers are cautioned not to place undue reliance on
any of our forward-looking statements.
Risks and uncertainties that may cause such differences include, among other
things: economic conditions, including the impact of foreign currency
fluctuations; future U.S. and global political, competitive, reimbursement and
regulatory conditions, including changing trade and tariff policies;
geopolitical conflicts and tensions; manufacturing, distribution and supply
chain disruptions and cost increases; disruptions caused by cybersecurity
events, including the impacts of the cybersecurity incident first reported on
August 26, 2026 on our operations and financial results; disruptions caused by
public health emergencies or extreme weather or other climate change-related
events; labor shortages and increases in labor costs; variations in outcomes of
ongoing and future clinical trials and market studies; new product introductions
and the market acceptance of those products; market competition for our
products; expected pricing environment; expected procedural volumes; the closing
and integration of acquisitions; demographic trends; intellectual property
rights; litigation; financial market conditions; the execution and effect of our
prior and new restructuring programs; the execution and effect of our business
strategy, including our cost-savings and growth initiatives; our ability to
achieve sustainability goals; and future business decisions made by us and our
competitors. New risks and uncertainties may arise from time to time and are
difficult to predict. All of these factors are difficult or impossible to
predict accurately and many of them are beyond our control. For a further list
and description of these and other important risks and uncertainties that may
affect our future operations, see Part I, Item 1A. Risk Factors in our most
recent Annual Report on Form 10-K filed with the Securities and Exchange
Commission, which we may update in Part II, Item 1A. Risk Factors in Quarterly
Reports on Form 10-Q we have filed or will file hereafter. We disclaim any
intention or obligation to publicly update or revise any forward-looking
statements to reflect any change in our expectations or in events, conditions,
or circumstances on which those expectations may be based, or that may affect
the likelihood that actual results will differ from those contained in the
forward-looking statements, except as required by law. This cautionary statement
is applicable to all forward-looking statements contained in this press release.
Note
: Amounts reported in millions within this press release are computed based on
the amounts in thousands. As a result, the sum of the components reported in
millions may not equal the total amount reported in millions due to rounding.
Certain columns and rows within tables may not add due to the use of rounded
numbers. Percentages presented are calculated from the underlying unrounded
amounts.
Use of Non-GAAP Financial Information
A reconciliation of the company's non-GAAP financial measures to the
corresponding GAAP measures, and an explanation of the company's use of these
non-GAAP financial measures, is included in the exhibits attached to this press
release.
CONTACT:
Media: Chanel Hastings Investors: Lauren Tengler
508-382-0288 508-683-4479
(office) (office)
Media Relations Investor Relations
Boston Scientific Boston Scientific
Corporation Corporation
chanel.hastings@bsc… BSXInvestorRelation…
BOSTON SCIENTIFIC CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in
millio… Three Nine
except Months Months
per Ended Ended
share Septem… Septemb…
data) 2026 30, 2025 2026 30, 2025
──────────────────────────────────────────────────────────────────────────────
Net $ 5,138 $ 5,065 $ 15,784 $ 14,788
sales
Cost of
produc…
sold 1,710 1,523 4,894 4,613
(exclu…
amorti…
expens…
Gross 3,428 3,542 10,890 10,175
profit
Operat…
expens…
Sellin…
general
and 1,683 1,741 5,266 5,053
admini…
expens…
Resear…
and 520 514 1,589 1,483
develo…
expens…
Royalty 12 12 37 40
expense
Amorti… 234 225 699 669
expense
Intang…
asset 39 0 39 46
impair…
charges
Restru…
net 63 -8 74 85
charges
(credi…
Contin…
consid…
net -32 11 -78 11
expense
(benef…
Litiga…
net 81 — 157 —
charges
(credi…
2,600 2,494 7,783 7,387
Operat…
income 828 1,048 3,107 2,788
(loss)
Other
income
(expen…
Intere… -100 -87 -285 -259
expense
Other, 4 -23 133 156
net
Income
(loss)
before 733 939 2,955 2,685
income
taxes
Income
tax 153 183 132 463
expense
(benef…
Net
income 580 755 2,823 2,222
(loss)
Net
income
(loss)
attrib… -2 -0 -6 -4
to
noncon…
intere…
Net
income
(loss)
attrib…
to $ 582 $ 755 $ 2,830 $ 2,226
Boston
Scient…
common
stockh…
Net
income
(loss)
per $ 0.40 $ 0.51 $ 1.93 $ 1.50
common
share -
basic
Net
income
(loss)
per $ 0.40 $ 0.51 $ 1.92 $ 1.49
common
share -
diluted
Weight…
shares
outsta…
Basic 1,448.7 1,481.7 1,468.0 1,479.6
Diluted 1,452.0 1,495.5 1,473.9 1,494.0
Amounts
may not
add due
to
roundi…
BOSTON SCIENTIFIC CORPORATION
NON-GAAP NET INCOME AND NET INCOME PER SHARE RECONCILIATIONS
(Unaudited)
…
…
…
…
…
…
──────────────────────────────────────────────────────────────────────────────
N…
N… I…
… I… (…
… … … … … N… (… A… I…
… … … … … I… A… to p…
… … … (… to B… S…
… N… S…
I… C…
S…
$ … $ … $ … $ … $ … $ … $ … $ … $ …
— … … — … … 2 … …
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… … … 8 … … — … …
… … … — … … — … …
— … … — … … — … …
— — — … … … — … …
3 … 5 — 5 5 — 5 …
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$ … $ … $ … $ … $ … $ … $ 0 $ … $ …
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— … … — … … 2 … …
— … 0 — 0 0 — 0 …
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7 … … — … 9 — 9 …
— — — — — … — … …
— — — — — 1 — 1 …
$ … $ … $ … $ … $ … $ … $ 2 $ … $ …
BOSTON SCIENTIFIC CORPORATION
NON-GAAP NET INCOME AND NET INCOME PER SHARE RECONCILIATIONS
(Unaudited)
…
…
…
…
…
…
──────────────────────────────────────────────────────────────────────────────
N…
N… I…
… I… (…
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… … … (… to B… S…
… N… S…
I… C…
S…
$ … $ … $ … $ … $ … $ … $ … $ … $ …
— … … — … … 7 … …
— … … — … … — … …
… … … … … … — … …
… … … — … … — … …
— … … — … … — … …
— — — … … … — … …
… … … — … … — … …
… — … — … … — … …
— — — — — … — … …
$ … $ … $ … $ … $ … $ … $ 1 $ … $ …
…
…
…
…
…
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… … … (… to B… S…
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I… C…
S…
$ … $ … $ … $ … $ … $ … $ … $ … $ …
— … … — … … 7 … …
— … … — … … — … …
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… … … — … … — … …
— — — … … … — … …
… … … — … … — … …
— — — — — … — … …
— — — — — 1 — 1 …
$ … $ … $ … $ … $ … $ … $ 3 $ … $ …
BOSTON SCIENTIFIC CORPORATION
Q4 and FY 2026 GUIDANCE RECONCILIATIONS
(Unaudited)
Net Sales
Q4 2026 Full Year
Estimate 2026
Estimate
-Low -High
Reported -3.0 % -1.0 % ~4.25%
growth/(…
Impact of
foreign — % — % ~(0.5)%
currency
fluctuat…
Operatio… -3.0 % -1.0 % ~3.75%
growth/(…
Impact of
certain — % — % — %
acquisit…
Organic -3.0 % -1.0 % ~3.75%
growth/(…
Use of Non-GAAP Financial Measures
To supplement our unaudited consolidated financial statements presented on a
GAAP basis, we disclose certain non-GAAP financial measures, including adjusted
net income (loss), adjusted net income (loss) attributable to Boston Scientific
common stockholders and adjusted net income (loss) per share (EPS) that exclude
certain charges (credits); operational net sales, which exclude the impact of
foreign currency fluctuations; and organic net sales, which exclude the impact
of foreign currency fluctuations as well as the impact of certain acquisitions
and divestitures with less than a full period of comparable net sales. These
non-GAAP financial measures are not in accordance with generally accepted
accounting principles in the United States and should not be considered in
isolation from or as a replacement for the most directly comparable GAAP
financial measures. Further, other companies may calculate these non-GAAP
financial measures differently than we do, which may limit the usefulness of
those measures for comparative purposes.
To calculate adjusted net income (loss), adjusted net income (loss) attributable
to Boston Scientific common stockholders and adjusted net income (loss) per
share, we exclude certain charges (credits) from GAAP net income and GAAP net
income attributable to Boston Scientific common stockholders, which 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), litigation-related net charges (credits), European Union (EU)
Medical Device Regulation (MDR) implementation costs, debt extinguishment net
charges, deferred tax expenses (benefits), discrete tax items and other charges
(credits) as appropriate. Amounts are presented after-tax using our effective
tax rate, unless the amount is a significant unusual or infrequently occurring
item in accordance with Financial Accounting Standards Board Accounting
Standards Codification Topic 740-270-30, “General Methodology and Use of
Estimated Annual Effective Tax Rate.” In addition to the explanation below,
please refer to Item 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations in our most recent Annual Report on Form
10-K filed with the Securities and Exchange Commission or Part I, Item 2.
Management's Discussion and Analysis of Financial Condition and Results of
Operations in any Quarterly Report on Form 10-Q that we have filed or will file
thereafter for an explanation of each of these adjustments and the reasons for
excluding each item. The following is an explanation of each incremental or
revised adjustment type, since our most recent Annual Report on Form 10-K, that
management excluded as part of these non-GAAP financial measures as well as the
reason for excluding each item:
• Restructuring and restructuring-related net charges (credits) - These
adjustments primarily represent severance and other compensation-related
charges, fixed asset write-offs, contract cancellations, project management
fees, facility shut down costs, costs to transfer manufacturing lines between
geographically dispersed facilities and other direct costs associated with our
restructuring plans. These restructuring plans each consist of distinct
initiatives that are fundamentally different from our ongoing, core cost
reduction initiatives in terms of, among other things, the frequency with which
each action is performed and the required planning, resourcing, cost and timing.
Examples of such initiatives include the movement of business activities,
facility consolidations and closures and the transfer of product lines between
manufacturing facilities, which, due to the highly regulated nature of our
industry, requires a significant investment in time and cost to create duplicate
manufacturing lines, run product validations and seek regulatory approvals.
Restructuring plans take place over a defined timeframe and have a distinct
project timeline that requires, and begins subsequent to, approval by our Board
of Directors. In contrast to our ongoing cost reduction initiatives,
restructuring plans typically result in duplicative cost and exit costs over the
defined timeframe and are not considered part of our core, ongoing operations.
In addition, we may incur certain charges such as severance and other
compensation-related charges, fixed asset write-offs, contract cancellations,
facility shutdown costs, and inventory write-downs associated with
discontinuations of significant product lines. These restructuring plans and
activities are incremental to the core activities that arise in the ordinary
course of our business. Restructuring and restructuring-related net charges
(credits) are excluded from management's assessment of operating performance and
from our operating segments' measures of profit and loss used for making
operating decisions and assessing performance.
• Deferred tax expenses (benefits) - These amounts represent significant non-
cash tax benefits arising from internal reorganizations or intra-entity asset
transfers. The deferred tax effects related to the establishment and subsequent
reversal of net deferred tax assets are excluded from management's assessment of
operating performance used for making operating decisions and assessing
performance.
• IEEPA tariff refund - This amount relates to the benefit recognized in
connection with the recovery of previously incurred tariffs imposed under the
International Emergency Economic Powers Act (IEEPA) recognized in Cost of
products sold within our unaudited consolidated statements of operations. This
amount is excluded from management's assessment of operating performance used
for making operating decisions and assessing performance.
The GAAP financial measures most directly comparable to adjusted net income
(loss), adjusted net income (loss) attributable to Boston Scientific common
stockholders and adjusted net income (loss) per share are GAAP net income
(loss), GAAP net income (loss) attributable to Boston Scientific common
stockholders and GAAP net income (loss) per common share - diluted,
respectively.
To calculate operational net sales growth rates, which exclude the impact of
foreign currency fluctuations, we convert actual net sales from local currency
to U.S. dollars using constant foreign currency exchange rates in the current
and prior periods. To calculate organic net sales growth rates, we also remove
the impact of certain acquisitions and divestitures with less than a full period
of comparable net sales. The GAAP financial measure most directly comparable to
operational net sales and organic net sales is net sales reported on a GAAP
basis.
Reconciliations of each of these non-GAAP financial measures to the
corresponding GAAP financial measure are included in the accompanying schedules.
Management uses these supplemental non-GAAP financial measures to evaluate
performance period over period, to analyze the underlying trends in our
business, to assess our performance relative to our competitors and to establish
operational goals and forecasts that are used in allocating resources. In
addition, management uses these non-GAAP financial measures to further its
understanding of the performance of our operating segments. The adjustments
excluded from our non-GAAP financial measures are consistent with those excluded
from our operating segments’ measures of net sales and profit or loss. These
adjustments are excluded from the segment measures reported to our chief
operating decision maker that are used to make operating decisions and assess
performance.
We believe that presenting adjusted net income (loss), adjusted net income
(loss) attributable to Boston Scientific common stockholders, adjusted net
income (loss) per share, operational and organic net sales growth rates, in
addition to the corresponding GAAP financial measures, provides investors
greater transparency to the information used by management for its operational
decision-making and allows investors to see our results “through the eyes” of
management. We further believe that providing this information assists our
investors in understanding our operating performance and the methodology used by
management to evaluate and measure such performance.