Omicron Delivers Blow to Boston Sci’s GuidanceOmicron Delivers Blow to Boston Sci’s Guidance

The Marlborough, MA-based company fell below consensus for 1Q22 guidance and full-year 2022 guidance.

Omar Ford

February 3, 2022

1 Min Read
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Image courtesy of Kristoffer Tripplaar / Alamy Stock Photo

Boston Scientific is the latest company to have its earnings impacted by staffing shortages and the disruptions caused by the Omicron variant. The Marlborough, MA-based company did not meet consensus for 1Q22 guidance and full year 2022 guidance.

The company said its 1Q22 adjusted earnings per share to come between 38 cents and 40 cents with EPS between $1.73 and $1.79. EPS consensus of 41 cents and full-year EPS of $1.87.

“Omicron has had an impact in December and the first part here of Q1,” Boston Scientific Chairman and CEO Mike Mahoney said according to a transcript from the Motely Fool. “But as we look at the rest of the year, the goal is and the belief is that there will be less impact in '22 than there was in '21. So, we see a brighter future, particularly as you get to that second half, as the macro environment gets a little bit better, COVID waned even more than it had in '21, and that gives us reason for optimism as we go through the year.”

Marie Thibault, an analyst with BTIG, said the impact of COVID did not come as a surprise.

“We anticipated initial guidance might account for continued COVID and staffing shortage headwinds in the early part of the year,” Thibault wrote in research. “The full-year revenue guidance range continues to point to the +6-8% growth that management has set as a target for 2022 to 2024 CAGR.”

 

About the Author

Omar Ford

Omar Ford is a veteran reporter in the field of medical technology and healthcare journalism. As Editor-in-Chief of MD+DI (Medical Device and Diagnostics Industry), a leading publication in the industry, Ford has established himself as an authoritative voice and a trusted source of information.

Ford, who has a bachelor's degree in print journalism from the University of South Carolina, has dedicated his career to reporting on the latest advancements and trends in the medical device and diagnostic sector.

During his tenure at MD+DI, Ford has covered a wide range of topics, including emerging medical technologies, regulatory developments, market trends, and the rise of artificial intelligence. He has interviewed influential leaders and key opinion leaders in the field, providing readers with valuable perspectives and expert analysis.

 

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