Omicron Delivers Blow to Boston Sci’s Guidance
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The Marlborough, MA-based company fell below consensus for 1Q22 guidance and full-year 2022 guidance.
Omar Ford | Feb 03, 2022
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.”
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