Boston Scientific Stung by $3.4 Billion Charge

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By Trey Thoelcke Published
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Medical device maker Boston Scientific (NYSE: BSX) has reported a second-quarter net loss of $3.40 billion, or $2.39 per diluted share. Adjusted earnings were $0.11 per share, which compares with $0.10 per share in the same period a year ago. That also beat the consensus EPS estimate by a penny per share.

The company also said quarterly revenue declined to $1.83 billion from $1.97 billion in the year-ago quarter. That fell short of the average revenue estimate of $1.89 billion.

During the second quarter, the company recorded a noncash $3.4 billion estimated goodwill impairment charge associated with its Europe, Middle East and Africa reporting unit. This was primarily driven by lower projected long-term growth rates due to macroeconomic factors and its performance in the European market.

“Despite increased competition, challenging market dynamics and disappointing results in certain businesses during the quarter, we delivered on our adjusted earnings and continued to generate strong cash flow,” said CEO Hank Kucheman.

Shares are about 0.7% higher in premarket trading to $5.37. The 52-week trading range is $5.01 to $7.55. Thomson Reuters had a consensus analyst price target of $6.79 before this earnings release.

Competitor St. Jude Medical (NYSE: STJ) is down about 0.08% in premarket trading.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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