Archive photo: Medical instruments. Ivan Babydov/Pexels (cropped)
Boston Scientific forecast a 1-3% decline in fourth-quarter sales Wednesday after third-quarter revenue grew 1.5% and profit fell, as the medical-device maker’s chief executive discussed its response to the cybersecurity incident first reported in August.
The company reported third-quarter net sales of $5.138 billion, up 1.5% on both a reported and organic basis. Net income attributable to common stockholders fell to $582 million, or $0.40 a share, from $755 million, or $0.51 a share, a year earlier, according to its earnings release.
Adjusted earnings were $0.73 a share, compared with $0.75 a year earlier. Adjusted earnings per share are a non-GAAP measure that excludes certain charges and credits.
Fourth-quarter sales expected to fall
Boston Scientific expects fourth-quarter sales to decline approximately 1-3% from a year earlier on both a reported and organic basis. It forecasts adjusted earnings of $0.77-$0.79 a share for the quarter.
For the full year, the company now expects reported sales growth of about 4.25% and organic growth of about 3.75%, with adjusted earnings of $3.16-$3.18 a share. Organic growth excludes currency movements and sales attributable to certain acquisitions and divestitures without a full comparable period.
The company did not provide a reconciliation of its forward-looking adjusted earnings guidance to GAAP, saying it could not reasonably predict certain potentially material charges and credits.
CEO addresses cybersecurity response
Chief Executive Mike Mahoney called 2026 a challenging year and praised employees’ response to the cybersecurity incident, saying teams had worked “with urgency and resilience to restore operations and continue supporting customers and patients.”
The incident was first reported on August 26. The release did not quantify how much of the projected fourth-quarter sales decline was attributable to that incident.
Growth varies across businesses and regions
Third-quarter MedSurg sales rose 0.6% on a reported basis and 0.7% organically, while Cardiovascular sales increased 1.9% on both measures. U.S. sales rose 0.5%. Reported sales grew 4.4% in Europe, the Middle East and Africa and 16% in Latin America and Canada, while Asia-Pacific sales declined 0.6%.
Boston Scientific also reported the start of enrollment in its Elite AF clinical trial evaluating the next-generation WATCHMAN Elite left atrial appendage closure device, along with FDA clearances for products in its kidney-stone and peripheral artery disease portfolios.
JBizNews Desk | Marlborough, Massachusetts
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