Boston Scientific Q3 2024 10-Q Filed
Ticker: BSX · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 885725
| Field | Detail |
|---|---|
| Company | Boston Scientific CORP (BSX) |
| Form Type | 10-Q |
| Filed Date | Nov 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
BSC 10-Q filed: Q3 2024 results are in, compare to Q3 2023. Check financials.
AI Summary
Boston Scientific Corporation filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter of 2024, comparing them to the same period in 2023. Key financial data and operational segments are detailed within the filing.
Why It Matters
This filing provides investors with the official financial performance of Boston Scientific for the third quarter of 2024, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 2024-11-01 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 2024-01-01 — Reporting Period Start Date (Indicates the beginning of the fiscal year-to-date period.)
Key Players & Entities
- Boston Scientific Corp (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-01 (date) — Filing date
- 2024-01-01 (date) — Start of the reporting period
- 2023-09-30 (date) — Comparison period end date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 1, 2024.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0000885725.
What is the Standard Industrial Classification (SIC) code for Boston Scientific Corp?
The SIC code for Boston Scientific Corp is 3841, which corresponds to Surgical & Medical Instruments & Apparatus.
What fiscal year end does Boston Scientific observe?
Boston Scientific observes a fiscal year end of December 31.
Filing Stats: 4,691 words · 19 min read · ~16 pages · Grade level 19.5 · Accepted 2024-11-01 06:33:26
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share BSX New York Stock Exchange
Filing Documents
- bsx-20240930.htm (10-Q) — 2126KB
- exhibit311-ceo302q32024.htm (EX-31.1) — 20KB
- exhibit312-cfo302q32024.htm (EX-31.2) — 20KB
- exhibit321-ceo906q32024.htm (EX-32.1) — 11KB
- exhibit322-cfo906q32024.htm (EX-32.2) — 11KB
- 0000885725-24-000073.txt ( ) — 11397KB
- bsx-20240930.xsd (EX-101.SCH) — 58KB
- bsx-20240930_cal.xml (EX-101.CAL) — 96KB
- bsx-20240930_def.xml (EX-101.DEF) — 330KB
- bsx-20240930_lab.xml (EX-101.LAB) — 770KB
- bsx-20240930_pre.xml (EX-101.PRE) — 573KB
- bsx-20240930_htm.xml (XML) — 2318KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 38 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 58 ITEM 4.
Controls and Procedures
Controls and Procedures 59 PART II OTHER INFORMATION 60 ITEM 1.
Legal Proceedings
Legal Proceedings 60 ITEM 1A.
Risk Factors
Risk Factors 60 ITEM 5. Other Information 60 ITEM 6. Exhibits 60 SIGNATURE 62 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 September 30, Nine Months Ended September 30, (in millions, except per share data) 2024 2023 2024 2023 Net sales $ 4,209 $ 3,527 $ 12,186 $ 10,515 Cost of products sold 1,312 1,101 3,791 3,198 Gross profit 2,897 2,426 8,395 7,317 Operating expenses: Selling, general and administrative expenses 1,562 1,242 4,372 3,811 Research and development expenses 407 356 1,156 1,051 Royalty expense 5 11 24 35 Amortization expense 205 208 631 620 Intangible asset impairment charges — 1 276 58 Contingent consideration net expense (benefit) ( 23 ) 12 ( 4 ) 43 Restructuring net charges (credits) 8 15 12 51 Litigation-related net charges (credits) — ( 111 ) — ( 111 ) 2,164 1,733 6,467 5,558 Operating income (loss) 733 693 1,928 1,759 Other income (expense): Interest expense ( 79 ) ( 66 ) ( 225 ) ( 200 ) Other, net 14 ( 18 ) ( 7 ) ( 78 ) Income (loss) before income taxes 669 610 1,697 1,480 Income tax expense (benefit) 200 105 413 392 Net income (loss) 468 504 1,284 1,088 Preferred stock dividends — — — ( 23 ) Net income (loss) attributable to noncontrolling interests ( 0 ) ( 0 ) ( 4 ) ( 0 ) Net income (loss) attributable to Boston Scientific common stockholders $ 469 $ 505 $ 1,288 $ 1,065 Net income (loss) per common share — basic $ 0.32 $ 0.34 $ 0.88 $ 0.74 Net income (loss) per common share — diluted $ 0.32 $ 0.34 $ 0.87 $ 0.73 Weighted-average shares outstanding Basic 1,472.7 1,464.5 1,470.6 1,448.8 Diluted 1,487.4 1,475.0 1,484.5 1,459.1 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 September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Net