Boston Scientific (BSX) Q3 2026 Earnings Report
DE:BSX Q3 2026 EPS Results
- Actual EPS
- EUR 0.65
- Consensus EPS
- EUR 0.65
- Beat/Miss
- Beat by +EUR 0.00
- One Year Ago EPS
- EUR 0.67
DE:BSX Q3 2026 Revenue Results
- Actual Revenue
- EUR 4.59B
- Expected Revenue
- EUR 4.54B
- Beat/Miss
- Beat by +EUR 45.04M
- YoY Revenue Growth
- +1.44%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/28/2026
- Time
- Before Open
- Conference Call
- Wednesday, October 28, 2026
Boston Scientific's next earnings date is estimated for February 3, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was dominated by near-term execution setbacks, including the cyber incident, a below-guidance third quarter, fourth-quarter revenue declines, margin pressure, China pricing headwinds, WATCHMAN and EP weakness, and an expected challenge to grow revenue and adjusted EPS in 2027. The company highlighted resilient operations, strong performance in several businesses, restructuring savings, product approvals, and a substantial future pipeline, but these positives were outweighed by the current downcycle and multiple forecast and launch challenges.
For fourth quarter 26, Boston Scientific guided to organic revenue declines of -1% to -3%, reported revenue decline in a range of down 3% to down 1%, operational and organic revenue decline in a range of down 3% to down 1%, and adjusted EPS of $0.77 to $0.79, including a cyber headwind of approximately 200 to 300 basis points and roughly $0.04 to $0.05 of EPS impact; for full-year 2026, it expects organic revenue growth of 4%, reported revenue growth of approximately 4.25%, operational and organic growth of approximately 3.75%, adjusted operating margin of approximately 27.6%, adjusted below-the-line expense of approximately $485 million, adjusted tax rate of approximately 12%, free cash flow of approximately $3.6 billion, and adjusted EPS of $3.16 to $3.18, representing growth of 3% to 4% year-over-year versus 2025 including an approximate $0.06 headwind from foreign exchange; for 2027, excluding Penumbra, it expects to be challenged to grow revenue and adjusted EPS, with the underlying base business consistently growing about 6% year-over-year, about a point of impact due to comp pricing issues, WATCHMAN market dynamics of about -7% to -8%, and additional pressure from a competitive launch, while it expects restructuring savings of over $500 million over the next 3 years and over half of those savings exiting 2027; it expects growth to improve in 2028 and above market WAMGR in 2029, with WAMGR at about 7% and maybe 7% to 8% over the next 3 years.
- Operations Restored After Cyber IncidentAll operations were back up and running as of September 8 following a two-week outage, and management praised employees for their resiliency in returning to support physicians and patients.
- Strong Neuromodulation GrowthNeuromodulation sales grew 13% year-over-year, with broad-based pain growth, exceptional performance from Nalu PNS technology, and brain growth driven by the Cartesia X lead and Illumina 3D software.
- Interventional Cardiology MomentumInterventional Cardiology and Vascular Therapies sales grew 12% year-over-year, including 19% growth in Interventional Cardiology driven by continued strength in global imaging and drug-eluting technologies.
- Agent DCB AdoptionThe Agent drug-coated balloon continued to perform strongly and has been used to treat over 400 thousand patients to date.
- Vascular Therapy Product ExpansionBoston Scientific received FDA clearance for SEISMIQ IVL to treat severely calcified peripheral artery disease in small vessels, expanding treatment above and below the knee, and received FDA approval for a 35 drug-coated balloon offering with an expanded size.
- Interventional Oncology GrowthInterventional oncology and embolization sales grew 5% year-over-year, driven by strong performance in the cancer therapies franchise, with continued adoption of same-day dosing of TheraSphere Y-90 and momentum in hepatic artery infusion technology.
- Urology Product ApprovalsStone management received FDA clearance for the Navigator Flex Suction Sheath, CE Mark and FDA clearance for distribution of the 7.5 Fr SlimScope, and FDA clearance for the LithoVue Elite single-use ureteroscope.
- Endoscopy Underlying PerformanceAlthough reported endoscopy sales declined 1% versus the third quarter of 2025, management stated that underlying performance remained strong, led by Axios, and expected performance to move closer to mid-single-digit market growth after annualizing the China VBP impact in the fourth quarter of 2027.
- WATCHMAN Investment and Patient EngagementBoston Scientific held over 200 medical education events in the second and third quarters, reaching more than 2,000 referrers and implanters, added dedicated commercial resources, and saw increased patient engagement supporting demand for alternatives to oral anticoagulation.
- WATCHMAN Pipeline ProgressThe company commenced enrollment in the ELITE AF clinical trial for the next-generation WATCHMAN FLX Pro platform, anticipates bringing the fourth-generation technology to market in 2029, and expects late-breaking SIMPL-AFY data at TCT.
- Future Growth Pipeline and Market OpportunityManagement cited a strong cadence of launches in 2027 and 2028, plans to enter several new markets, and expects these opportunities to unlock $25 billion in new market opportunity by 2030.
- Restructuring Savings Ahead of ScheduleThe company expects its restructuring program to deliver over $500 million of savings over the next three years, with more than half expected to be achieved exiting 2027; management said execution was tracking a little ahead of schedule.
- Vitalist Strategic PartnershipBoston Scientific entered an agreement with Blackstone Life Sciences to co-fund development of the Vitalist circulatory support system for cardiogenic shock, with funding recognized as a reduction to R&D expense as related costs are incurred.
- Strong Free Cash Flow and Balance SheetThird-quarter free cash flow was $867 million, including $1.05 billion from operating activities less $180 million in net capital expenditures. As of September 30, 2026, cash on hand was $690 million and gross debt leverage was 1.9x.
- Penumbra Strategic FitManagement remained very bullish on the proposed Penumbra acquisition, citing Penumbra's strong 2026 results, innovative portfolio, strategic fit, and potential synergies in growth and some costs; closing is expected in early 2027 subject to remaining regulatory clearances.
DE:BSX Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 03, 2027 | 2026 (Q4) | 0.69- | 0.71 | ― | ― |
| Oct 28, 2026 | 2026 (Q3) | 0.650.65 | 0.67 | -2.67% (-0.02) | |
| Jul 29, 2026 | 2026 (Q2) | 0.750.77 | 0.67 | 14.67% (+0.10) | |
| Apr 22, 2026 | 2026 (Q1) | 0.700.71 | 0.67 | 6.67% (+0.04) | |
| Feb 04, 2026 | 2025 (Q4) | 0.700.71 | 0.62 | 14.29% (+0.09) | |
| Oct 22, 2025 | 2025 (Q3) | 0.640.67 | 0.56 | 19.05% (+0.11) | |
| Jul 23, 2025 | 2025 (Q2) | 0.650.67 | 0.55 | 20.97% (+0.12) | |
| Apr 23, 2025 | 2025 (Q1) | 0.600.67 | 0.5 | 33.93% (+0.17) | |
| Feb 05, 2025 | 2024 (Q4) | 0.590.62 | 0.49 | 27.27% (+0.13) | |
| Oct 23, 2024 | 2024 (Q3) | 0.520.56 | 0.45 | 26.00% (+0.12) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.