Boston Scientific (NYSE: BSX) reported Q1 EPS of $0.29, $0.01 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $2.16 billion versus the consensus estimate of $2.08 billion.

GUIDANCE:

Boston Scientific sees FY2017 EPS of $0.81-$0.86. Boston Scientific sees FY2017 revenue of $8.8-8.9 billion, versus the consensus of $8.78 billion.

Guidance for Full Year and Second Quarter 2017

The company now estimates revenue for the full year 2017 to be in a range of $8.800 to $8.900 billion (compared to prior guidance of $8.675 to $8.875 billion), which versus the prior year period, represents a growth range of approximately 5 to 6 percent on a reported basis and a growth range of approximately 6 to 7 percent on an operational basis including contribution of approximately 70 basis points from EndoChoice. The company now estimates income on a GAAP basis in a range of $0.81 to $0.86 per share (compared to prior guidance of $0.86 to $0.91 per share) and continues to estimate adjusted earnings, excluding acquisition-related net charges, restructuring and restructuring-related net charges, and amortization expense, in a range of $1.22 to $1.26 per share.

The company estimates sales for the second quarter of 2017 to be in a range of $2.185 to $2.215 billion, which versus the prior year period represents a growth range of approximately 3 to 4 percent on a reported basis and a growth range of approximately 5 to 6 percent on an operational basis including contribution of approximately 70 basis points from EndoChoice. The company estimates earnings on a GAAP basis in a range of $0.18 to $0.21 per share. Adjusted earnings, excluding acquisition-related net charges, restructuring and restructuring-related net charges and amortization expense, are estimated in a range of $0.30 to $0.32 per share.

First quarter financial results and recent developments:

• Reported first quarter sales of $2.160 billion, compared to the company\'s guidance range for the quarter of $2.050 to $2.100 billion, representing an increase of 10 percent on a reported and operational basis, all compared to the prior year period.
• Grew organic revenue 9 percent in the first quarter over the prior year period. Organic revenue growth excludes the impact of changes in foreign currency exchange rates and sales from the acquisition of EndoChoice Holdings, Inc. (EndoChoice).
• Reported GAAP earnings of $0.21 per share compared to the company\'s guidance range of $0.18 to $0.21 per share and delivered adjusted earnings per share of $0.29 compared to the guidance range of $0.29 to $0.31 per share. These results include charges associated with the February voluntary removal of Lotus™ Valve devices1 from global commercial and clinical sites.

Achieved first quarter revenue growth in all segments, all compared to the prior year period:

• MedSurg: 15 percent reported and operational, 12 percent organic
• Cardiovascular: 8 percent reported, operational and organic
• Rhythm Management: 7 percent reported, 8 percent operational and organic

Delivered strong regional revenue growth, all compared to the prior year period:

• U.S.: 13 percent reported and operational, 11 percent organic
• Europe: 2 percent reported, 7 percent operational and organic
• AMEA (Asia-Pacific, Middle East and Africa): 9 percent reported, 8 percent operational and organic
• Emerging markets:2 12 percent reported, operational and organic

For earnings history and earnings-related data on Boston Scientific (BSX) click here.