Boston Scientific Files Q2 2024 10-Q
Ticker: BSX · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 885725
| Field | Detail |
|---|---|
| Company | Boston Scientific CORP (BSX) |
| Form Type | 10-Q |
| Filed Date | Aug 1, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
BSX Q2 10-Q filed. Financials and operations detailed for H1 2024.
AI Summary
Boston Scientific Corporation filed its 10-Q for the period ending June 30, 2024. The filing covers financial performance and operational details for the second quarter and the first half of 2024. Key financial data and business segments are detailed, reflecting the company's ongoing activities in the medical device sector.
Why It Matters
This filing provides investors with crucial financial and operational insights into Boston Scientific's performance, impacting investment decisions and market perception.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate or unusual risk factors highlighted.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which the report is filed.)
- 20240801 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- BOSTON SCIENTIFIC CORP (company) — Filer
- 0000885725 (company) — Central Index Key
- 300 BOSTON SCIENTIFIC WAY, MARLBOROUGH, MA 01752-1234 (company) — Business Address
- 508-683-4000 (company) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is June 30, 2024.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0000885725.
What is the business address of Boston Scientific Corp?
The business address is 300 BOSTON SCIENTIFIC WAY, MARLBOROUGH, MA 01752-1234.
What is the fiscal year end for Boston Scientific Corp?
The fiscal year end for Boston Scientific Corp is December 31.
What is the SEC file number for Boston Scientific Corp?
The SEC file number for Boston Scientific Corp is 001-11083.
Filing Stats: 4,694 words · 19 min read · ~16 pages · Grade level 18.9 · Accepted 2024-08-01 16:16:14
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share BSX New York Stock Exchange
Filing Documents
- bsx-20240630.htm (10-Q) — 2077KB
- ex101-bscthirdamendmentto2.htm (EX-10.1) — 1065KB
- exhibit311-ceo302q22024.htm (EX-31.1) — 20KB
- exhibit312-cfo302q22024.htm (EX-31.2) — 20KB
- exhibit321-ceo906q22024.htm (EX-32.1) — 11KB
- exhibit322-cfo906q22024.htm (EX-32.2) — 11KB
- 0000885725-24-000068.txt ( ) — 12423KB
- bsx-20240630.xsd (EX-101.SCH) — 57KB
- bsx-20240630_cal.xml (EX-101.CAL) — 95KB
- bsx-20240630_def.xml (EX-101.DEF) — 340KB
- bsx-20240630_lab.xml (EX-101.LAB) — 766KB
- bsx-20240630_pre.xml (EX-101.PRE) — 573KB
- bsx-20240630_htm.xml (XML) — 2245KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 37 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 56 ITEM 4.
Controls and Procedures
Controls and Procedures 57 PART II OTHER INFORMATION 58 ITEM 1.
Legal Proceedings
Legal Proceedings 58 ITEM 1A.
Risk Factors
Risk Factors 58 ITEM 5. Other Information 58 ITEM 6. Exhibits 58 SIGNATURE 60 2 Table of Contents PART I FINANCIAL INFORMATION
CONSOLIDATED FINANCIAL STATEMENTS
ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS BOSTON SCIENTIFIC CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share data) 2024 2023 2024 2023 Net sales $ 4,120 $ 3,599 $ 7,977 $ 6,988 Cost of products sold 1,270 1,058 2,479 2,098 Gross profit 2,850 2,542 5,498 4,891 Operating expenses: Selling, general and administrative expenses 1,446 1,354 2,810 2,570 Research and development expenses 383 359 749 695 Royalty expense 9 12 19 23 Amortization expense 213 210 427 412 Intangible asset impairment charges 276 57 276 57 Contingent consideration net expense (benefit) 2 19 18 31 Restructuring net charges (credits) 1 16 5 36 2,330 2,028 4,303 3,825 Operating income (loss) 520 514 1,195 1,066 Other income (expense): Interest expense ( 77 ) ( 70 ) ( 146 ) ( 135 ) Other, net ( 23 ) ( 18 ) ( 21 ) ( 61 ) Income (loss) before income taxes 420 426 1,028 870 Income tax expense (benefit) 98 156 213 287 Net income (loss) 322 270 815 584 Preferred stock dividends — ( 9 ) — ( 23 ) Net income (loss) attributable to noncontrolling interests ( 2 ) — ( 4 ) — Net income (loss) attributable to Boston Scientific common stockholders $ 324 $ 261 $ 819 $ 561 Net income (loss) per common share — basic $ 0.22 $ 0.18 $ 0.56 $ 0.39 Net income (loss) per common share — diluted $ 0.22 $ 0.18 $ 0.55 $ 0.39 Weighted-average shares outstanding Basic 1,470.6 1,446.2 1,469.5 1,441.0 Diluted 1,484.2 1,456.2 1,483.0 1,451.1 Refer to notes to the unaudited consolidated financial statements. Amounts may not foot due to rounding. 3 Table of Contents BOSTON SCIENTIFIC CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (in millions) 2024 2023 2024 2023 Net income (loss) $ 322 $ 270 $ 815 $ 584 Other comprehensive income (loss), net of tax: Foreign currency t