EarningsQ2 2026 Earnings Report

Boston Scientific (BSX) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:BSX Q2 2026 EPS Results

Actual EPS$14.90

Consensus EPS$14.47

Beat/MissBeat by +$0.43

One Year Ago EPS$13.00

MX:BSX Q2 2026 Revenue Results

Actual Revenue$94.32B

Expected Revenue$93.15B

Beat/MissBeat by +$1.16B

YoY Revenue Growth+7.53%

Earnings Announcement Details

QuarterQ2 2026

Date07/29/2026

TimeBefore Open

Conference CallWednesday, July 29, 2026

MX:BSX Upcoming Earnings

Boston Scientific's next earnings date is estimated for October 28, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:BSX Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 29, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presented a mixed picture: the company delivered a solid quarter with a top‑line beat, strong EPS growth (+15%), margin expansion, healthy cash generation and multiple business units growing double digits. However, management lowered near‑term expectations driven primarily by a sharp WATCHMAN market slowdown and competitive share pressure in U.S. Electrophysiology, which prompted updated guidance, margin mix headwinds and a restructuring to drive future savings. While long‑term catalysts (product launches, Penumbra and MiRus investments, and a $500M cost program) support confidence for recovery in 2028+, the near‑term outlook is tempered and uncertain.

Company Guidance

Boston Scientific updated 2026 guidance with full‑year organic/operational revenue growth of 5%–6% (reported growth 5.5%–6.5% including an estimated ~50 bps FX tailwind), third‑quarter organic/operational growth of 3%–5%, and Q3 adjusted EPS of $0.80–$0.82; full‑year adjusted EPS is guided to $3.28–$3.32 (7%–8% growth vs. 2025) with an approximate $0.05 FX headwind, an adjusted tax rate around 11.5%, and adjusted below‑the‑line expense of about $485M. Management expects full‑year adjusted operating margin expansion of 0–25 bps (Q2 adj. operating margin was 28.4% and adj. gross margin in Q2 was 70.3%, though full‑year gross margin is expected below 2025), and reiterated Q2 results of $5.442B revenue (7.5% reported / 7.0% operational and organic), $0.86 adj. EPS (+15%), $1.29B FCF in Q2 and a ~$3.8B FCF outlook for the year. The update assumes EP will be roughly flat in H2 and WATCHMAN will decline mid‑ to high‑single digits in H2 (WATCHMAN full year now guided to flat to low‑single digits); company liquidity and capital actions include ~$539M cash, ~2.0x gross debt leverage, ~1.475B diluted shares (after a ~$2B ASR and ~40M share repurchase), a $1.5B MiRus investment, anticipated close of Penumbra in H2'26 (slightly dilutive to 2026 margins/EPS), and a restructuring targeting ~$500M run‑rate savings exiting 2029 (with over half the savings and spend realized/executed by the end of 2027).

Top-line Beat and Organic Growth

Consolidated revenue of $5.442B represented 7.5% reported growth vs. Q2 2025 and organic/operational revenue growth of 7.0% (in line with Q2 guidance of 5%–7%), with a ~50 bps FX tailwind.

EPS Outperformance

Q2 adjusted EPS of $0.86 grew 15% year‑over‑year and exceeded the high end of guidance ($0.82–$0.84), driven primarily by favorable discrete tax items.

Margin Expansion and Profitability

Adjusted gross margin improved to 70.3% (up ~80 bps YoY) and adjusted operating margin was 28.4% (expanded ~70 bps YoY); GAAP operating margin was 21.6% after one-time charges.

Strong Cash Generation and Capital Actions

Q2 free cash flow was $1.29B (operating cash $1.475B less $184M capex); full‑year FCF guidance ~ $3.8B. Completed $2B accelerated share repurchase (repurchased ~40M shares) and ended Q2 with ~1.475B weighted average diluted shares outstanding.

High‑Growth Business Unit Performance

Multiple businesses delivered double‑digit growth: Neuromodulation +12% (pain and brain both double‑digit), Interventional Cardiology +15%, Interventional Oncology & Embolization +12%, Vascular/ICVT +12% overall; Endoscopy +7%; Asia Pacific operational growth +11%.

Product & Regulatory Milestones

Received FDA clearance for RIVOS (endoscopy) and TruSelect (microcatheter); FRACTURE trial for SEISMIQ 4CE achieved endpoints; continued trial progress for TIVUS renal denervation and FARADIGM pivotal trial for FARAFLEX.

Strategic M&A and Pipeline Investments

Announced $1.5B strategic investment in MiRus (option to acquire TAVR assets) and reiterated expectation to close Penumbra acquisition in H2 2026 to strengthen long‑term growth profile.

Restructuring to Improve Long‑Term Efficiency

Launched comprehensive restructuring program targeting approximately $500M in run‑rate savings exiting 2029 (over half expected realized exiting 2027) to fund priority growth areas and drive margin expansion in 2028+.

MX:BSX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 28, 2026	2026 (Q3)	13.38 / -	12.998	―
Jul 29, 2026	2026 (Q2)	14.47 / 14.90	12.998	14.67% (+1.91)
Apr 22, 2026	2026 (Q1)	13.66 / 13.86	12.998	6.67% (+0.87)
Feb 04, 2026	2025 (Q4)	13.54 / 13.86	12.132	14.29% (+1.73)
Oct 22, 2025	2025 (Q3)	12.37 / 13.00	10.919	19.05% (+2.08)
Jul 23, 2025	2025 (Q2)	12.56 / 13.00	10.745	20.97% (+2.25)
Apr 23, 2025	2025 (Q1)	11.66 / 13.00	9.705	33.93% (+3.29)
Feb 05, 2025	2024 (Q4)	11.39 / 12.13	9.532	27.27% (+2.60)
Oct 23, 2024	2024 (Q3)	10.19 / 10.92	8.666	26.00% (+2.25)
Jul 24, 2024	2024 (Q2)	10.10 / 10.75	9.185	16.98% (+1.56)

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.

Beat

Missed