The company said its net sales for Q1 2024 were $3.856 billion, compared with $3.389 billion a year earlier, an increase of $467 million, or 13.8%. The figure included operational growth of 15.0% and a negative impact of 120 basis points from foreign currency fluctuations.

1. 01

   The company said its net sales for Q1 2024 were $3.856 billion, compared with $3.389 billion a year earlier, an increase of $467 million, or 13.8%. The figure included operational growth of 15.0% and a negative impact of 120 basis points from foreign currency fluctuations.

2. 02

   Boston Scientific said net income attributable to its common stockholders for Q1 2024 was $495 million ($0.33 per diluted share). Excluding certain charges and credits totaling $337 million after tax, adjusted net income was $832 million ($0.56 per diluted share).

3. 03

   The company said its gross profit margin for Q1 2024 decreased to 68.7% from 69.3% in the prior year period. It cited inventory charges, period expenses and the unfavorable impact of foreign currency as the factors, partially offset by increased sales of higher margin products.

4. 04

   Boston Scientific said Cardiology net sales for Q1 2024 were $1.872 billion, up 16.5% from the prior year period, and Endoscopy net sales were $642 million, up 11.4%. It cited WATCHMAN FLX and Farapulse among the drivers of the Cardiology growth.

Key figures

Quarter ended March 31, 2024

Revenue

$3.9B

Operating income

$675M

Net income

$493M

EPS

$0.33

Gross profit

$2.6B

Operating cash flow

$164M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.