Boston Scientific Corporation (BSX) Q3 2022 Earnings Call Transcript

Boston Scientific Corporation (NYSE:BSX) Q3 2022 Earnings Conference Call October 26, 2022 8:00 AM ET

Company Participants

Lauren Tengler - Vice President, Investor Relations

Mike Mahoney - Chairman & Chief Executive Officer

Dan Brennan - Executive Vice President & Chief Financial Officer

Ian Meredith - Chief Medical Officer

Ken Stein - Chief Medical Officer

Conference Call Participants

Robbie Marcus - JPMorgan

Larry Biegelsen - Wells Fargo

Joanne Wuensch - Citi

Vijay Kumar - Evercore

Travis Steed - Bank of America

Cecilia Furlong - Morgan Stanley

Rick Wise - Stifel

Matthew O'Brien - Piper Jaffray

Matt Taylor - Jefferies

Pito Chickering - Deutsche Bank

Chris Pasquale - Nephron Research

Matt Miksic - Barclays

Operator

Good morning and welcome to the Boston Scientific Third Quarter 2022 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Lauren Tengler, Vice President, Investor Relations. Please go ahead.

Lauren Tengler

Thank you, Andrew. Welcome, everyone, and thanks for joining us today. With me on today’s call are Mike Mahoney, Chairman and Chief Executive Officer; and Dan Brennan, Executive Vice President and Chief Financial Officer.

We issued a press release earlier this morning announcing our Q3 2022 results, which included reconciliations of the non-GAAP measures used in the release. We have posted a copy of that release as well as reconciliations of the non-GAAP measures used in today’s call to the Investor Relations section of our website under the heading Financials & Filings.

The duration of this morning’s call will be approximately one hour. Mike and Dan will provide comments on Q3 performance as well as the outlook for our business, including Q4 2022 and full year 2022 guidance, and then we'll take your questions. During today's Q&A session, Mike and Dan will be joined by our Chief Medical Officers, Dr. Ian Meredith; and Dr. Ken Stein.

Before we begin, I'd like to remind everyone that on the call, operational revenue growth excludes the impact of foreign currency fluctuation and organic revenue growth further excludes acquisitions and divestitures, for which there are less than a full period of comparable net sales. Relevant acquisitions include -- excluded for organic growth are Preventice, FARAPULSE and Lumenis Surgical, which closed in March, August and September of 2021, respectively; as well as Baylis Medical, which closed on February 14, 2022.