BSX · Boston Scientific Q2 FY2026 earnings call record财报电话会记录

“Q2 adjusted EPS of $0.86 grew 15% and exceeded the high end of guidance range of $0.82-$0.84, driven primarily by some favorable tax results.”

“To that end, we are updating our full year 2026 guidance for organic revenue of 5%-6% with our full year adjusted EPS now at $3.28-$3.32, representing growth of 7%-8%.”

“For the third quarter, we're guiding to organic revenue growth of 3%-5% and adjusted EPS of $0.80-$0.82.”

“In second quarter, WATCHMAN grew 4% with international growth of 18% and U.S.”

“First, there has been a significant amount of clinical evidence regarding stroke risk in AF patients published over the last nine months, and integrating this evidence into practice takes time, which is impacting patient identification and referral patterns.”

“Adjusted gross margin for the second quarter was 70.3%, which represented an 80 basis point increase versus the second quarter of 2025.”

“Second quarter adjusted operating margin was 28.4%, which was in line with expectations and represented 70 basis points of expansion versus the second quarter of 2025.”

“Fully diluted weighted average shares outstanding ended at 1,475,000,000 in the second quarter, reflecting the repurchase of approximately 40 million shares under our previously announced accelerated share repurchase agreement, which reduced our share count more than initially anticipated.”

“Free cash flow for the second quarter was $1,290,000,000, with $1,475,000,000 from operating activities, less $184 million in net capital expenditures.”

“As of June 30th, 2026, we had cash on hand of $539 million, and our gross debt leverage ratio was 2.0x.”

“The challenge, as you know, has been in the two areas, EP and WATCHMAN, that had hyper growth, unusually differentiated growth in 2024 and 2025, and now we expect more pressure in 2026 and 2027.”

“That is due to gross margin pressure from continued softness in WATCHMAN and EP, as well as the initial impacts of Penumbra.”