Stock Analysis on Net

Boston Scientific Corp. (NYSE:BSX)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 4, 2023.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

The data is hidden behind: . Unhide it.

This is a one-time payment. There is no automatic renewal.


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Apple Pay Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Boston Scientific Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Net sales
Cost of products sold
Gross profit
Selling, general and administrative expenses
Research and development expenses
Royalty expense
Amortization expense
Goodwill impairment charges
Intangible asset impairment charges
Contingent consideration net (expense) benefit
Restructuring charges
Litigation-related net (charges) credits
Gain (loss) on disposal of businesses and assets
Operating expenses
Operating income (loss)
Interest expense
Other, net
Other income (expense)
Income (loss) before income taxes
Income tax (expense) benefit
Net income (loss)
Preferred stock dividends
Net income (loss) available to common stockholders

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).


Net sales
Net sales exhibited a generally upward trend from March 2018 through March 2023, increasing from approximately $2.38 billion to $3.39 billion. There was a noticeable dip in mid-2020, likely attributable to external market disruptions, followed by a recovery and continuous growth.
Cost of products sold
Costs progressively increased over the period, moving from about $672 million in March 2018 to $1.04 billion in March 2023. The cost rises closely followed net sales trends but with occasional sharper increases especially during late 2020, indicating potential pressure on gross margins during that period.
Gross profit
Gross profit generally increased over time, rising from $1.71 billion in March 2018 to $2.35 billion in March 2023. However, gross profit experienced a sharp decline in mid-2020, reflecting the impact of lower sales and higher product costs during that quarter. After this disruption, gross profit recovered and continued to grow.
Selling, general and administrative expenses (SG&A)
SG&A expenses grew steadily from $861 million in March 2018 to $1.21 billion in March 2023, showing ongoing investment in operational activities. There was a temporary reduction in mid-2020, aligning with decreased sales, but expenses resumed their growth trajectory subsequently.
Research and development expenses (R&D)
R&D spending remained relatively consistent, ranging mostly between $260 million and $340 million each quarter. The company maintained a stable commitment to innovation through the period, with a minor dip in mid-2020 which corresponds with the general expense reduction observed during that period.
Royalty expense
Royalty expenses were relatively low and stable, generally fluctuating slightly around $10 million to $18 million per quarter, with no significant trend.
Amortization expense
Amortization costs showed a gradual increase from $141 million in early 2018 to approximately $203 million in early 2023, reflecting ongoing amortization of intangible assets or capitalized expenditures.
Impairment charges
The data shows sporadic intangible asset impairments, notably large charges in late 2019 and multiple quarters in 2021 and 2022, sometimes exceeding $100 million. Goodwill impairment was recorded once in 2020 at $73 million. These charges may indicate periodic assessments of asset values yielding significant write-downs.
Contingent consideration net expense (benefit)
This item fluctuated considerably, with significant positive and negative swings, including large positive impacts such as $108 million in March 2020 and $85 million in June 2021. This suggests variability in adjustments related to acquisition-related contingencies which affected quarterly results unevenly.
Restructuring charges
Restructuring charges were relatively modest but persistent across all quarters, typically below $30 million, with occasional increases, implying ongoing efforts to optimize business operations periodically.
Litigation-related net charges/credits
There were notable volatility and large negative and positive litigation-related impacts. In particular, a sharp negative charge in December 2019 (-$223 million), further charges in 2020, and substantial credits and charges in 2021 and 2022 illustrate that legal matters significantly influenced earnings in an irregular manner.
Gain (loss) on disposal of businesses and assets
Gains from disposals appeared sporadically in 2020 and 2021, reaching up to $40 million in September 2021, but a substantial loss (-$22 million) was recorded in early 2023, signaling occasional material impacts from asset transactions on financial outcomes.
Operating expenses
Operating expenses grew substantially over time, and although there was a dip in mid-2020, expenses peaked around $2 billion in several quarters post-2020, reflecting increased investment or costs associated with the expanding business scale.
Operating income (loss)
Operating income displayed volatility, peaking at $541 million in March 2019 and plummeting to a loss of $205 million in September 2020 amid the pandemic-related disruption. Recovery was evident from late 2020 onward, with operating income reaching $552 million by March 2023, exceeding prior peaks.
Interest expense
Interest expenses largely fluctuated between $57 million and $87 million per quarter, with a spike to $279 million in March 2022, possibly corresponding to one-time financing costs or debt revaluation.
Other, net / Other income (expense)
Other income/expense was highly variable and influential in quarterly results. Notable were large positive impacts such as $353 million in December 2020 and negative swings around 2019-2022, indicating irregular financial activities, possibly investment or foreign exchange effects impacting net income.
Income before income taxes
Pre-tax income exhibited substantial fluctuations, with highs of $456 million in September 2018 and a significant low of -$227 million in September 2020. Post-2020, income before taxes showed a recovery trend, ending at $444 million in March 2023.
Income tax expense/benefit
Income tax figures were inconsistent, with some quarters showing tax benefits and others large expenses. For example, an extraordinary tax benefit of $4 billion appeared in December 2019, likely reflecting discrete tax events. The variability indicates complexities in tax reporting driven by fluctuations in pretax income and special items.
Net income (loss)
Net income generally followed the pretax income trend, with a standout spike to nearly $4 billion in December 2019 due to tax-related adjustments. Apart from that, net income showed a dip in mid-2020 but rebounded steadily through subsequent quarters, reaching a peak of $419 million in September 2021 and maintaining positive results thereafter.
Preferred stock dividends
Preferred dividends were consistently around $13 million to $15 million per quarter from late 2019 through March 2023, representing a stable cost of capital.
Net income available to common stockholders
This metric parallels net income trends and provides a clearer picture of earnings attributable to shareholders. Following the material spike in late 2019, the figure dipped during 2020, then gradually improved, ending at $300 million in March 2023, marking growth in shareholder returns.