Boston Scientific 8-K
NegativeEarningsNew guidanceRestructuringImpairment / chargeLegal / investigation
Operations recovery from August’s cybersecurity incident continues; Q4 reported sales are guided to fall 1%–3% Y/Y.
Filed 2026-10-28 06:34 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results with Q4 and FY2026 guidance. Boston Scientific reported modest sales growth, while its new outlook calls for a Q4 sales decline and full-year growth. Management described 2026 as challenging and said teams were restoring operations and supporting customers after the August cybersecurity incident; the quarter also brought device clearances, a clinical-trial enrollment start and a strategic collaboration.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Revenue | $5.14B, +1.5% Y/Y | $15.8B, +6.7% Y/Y |
| Gross margin | 66.7%, vs 69.9% | 69.0%, vs 68.8% |
| Operating income | $828M, -21.0% Y/Y | $3.11B, +11.4% Y/Y |
| Net income attributable to Boston Scientific common stockholders | $582M, -23.0% Y/Y | $2.83B, +27.1% Y/Y |
| Diluted EPS | $0.40, -21.6% Y/Y | $1.92, +28.9% Y/Y |
| Adjusted EPS (non-GAAP) | $0.73, -2.7% Y/Y | $2.39, +5.8% Y/Y |
- Segment growth was led by Neuromodulation, up 13.0% operationally; Urology declined 3.1% and Endoscopy 0.6%. Cardiovascular grew 1.9% reported and MedSurg 0.6%. By region, LACA grew 10.5% operationally and EMEA 6.1%, while APAC declined 1.1%.
- Q3 GAAP operating results included $81M of litigation-related charges, $39M of intangible asset impairment charges and $63M of restructuring charges.
- Product developments included starting enrollment in Elite AF, a trial of the WATCHMAN Elite left atrial appendage closure device; FDA clearances for two StoneSmart kidney-stone technologies and an expanded-size SEISMIQ peripheral lithotripsy catheter; and a Heartflow collaboration on AI-powered CT-guided planning for coronary procedures. Category I CPT codes for renal denervation and implantable tibial nerve stimulation devices take effect in 1/2028.
Against earlier guidance (derived from earlier filings)
| Metric | Period | Earlier guidance | Actual | Result |
|---|---|---|---|---|
| Reported net sales growth | Q3 2026 | 3%-5% Y/Y | $5.14B, +1.5% Y/Y | missed |
| Adjusted EPS, non-GAAP | Q3 2026 | $0.80-$0.82 | $0.73 | missed |
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Net sales growth, reported | FY2026 | ≈4.25% | — | — |
| Net sales growth, operational | FY2026 | ≈3.75% | — | — |
| Net sales growth, organic | FY2026 | ≈3.75% | — | — |
| Adjusted EPS (non-GAAP) | FY2026 | $3.16-$3.18 | — | — |
| Net sales growth, reported | Q4 2026 | ≈(3.0)% to (1.0)% | — | — |
| Net sales growth, operational | Q4 2026 | (3.0)% to (1.0)% | — | — |
| Net sales growth, organic | Q4 2026 | ≈(3.0)% to (1.0)% | — | — |
| Adjusted EPS (non-GAAP) | Q4 2026 | $0.77-$0.79 | — | — |
Guidance changes, derived from earlier filings
| Metric | Period | Earlier guidance | Guidance now | Change |
|---|---|---|---|---|
| Net sales growth, reported | FY2026 | ≈5.5%-6.5% Y/Y | ≈4.25% | lowered |
| Net sales growth, organic | FY2026 | 5%-6% Y/Y | ≈3.75% | lowered |
| Adjusted EPS (non-GAAP) | FY2026 | $3.28-$3.32 | $3.16-$3.18 | lowered |
Investor Takeaways
- Watch Q4 reported and organic sales against the guided decline range, alongside adjusted EPS against $0.77-$0.79, to assess the near-term trajectory.
- Elite AF enrollment and eventual safety and effectiveness results will test the next-generation WATCHMAN device; the filing gives no trial readout timing.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-28 14:37:29Z