01—Abstract
Summary
Summary of the 10-K/A filed February 21, 2024. Cited figures are marked; the original filing is the authoritative source.
Boston Scientific Corporation (BSX) has filed its 2023 Annual Report (10-K/A) on February 20, 2024, reflecting their performance for the period ending December 30, 2023.
While the provided excerpt focuses on exhibit information, a full 10-K filing would detail the company's financial performance, strategic initiatives, risk factors, and management's discussion and analysis. Investors should review the complete filing to understand BSX's revenue growth, profitability trends, debt levels, and any significant changes in its product portfolio or market position.
Key areas for investor attention in the full report typically include the company's performance across its various segments (e.g., Cardiovascular, MedSurg, Pelvic Health, Neuromodulation), any notable acquisitions or divestitures, ongoing research and development efforts, and the competitive landscape. The filing also contains crucial information on the company's outlook and forward-looking statements, which are essential for assessing future growth prospects and potential risks.
02—Key points
Key Highlights
- The filing is an Amendment (10-K/A) to the original 10-K, indicating potential updates or corrections to previously submitted information. Investors should be aware of the nature of these amendments.
- The report covers the fiscal year ending December 30, 2023.
- The filing includes the consent of Ernst & Young LLP as the independent registered public accounting firm, suggesting a standard audit process.
- Exhibit 31.1 is listed, which typically relates to CEO and CFO certifications regarding the effectiveness of internal control over financial reporting.
- The excerpt highlights Part IV, Item 15, focusing on Exhibits and Financial Statement Schedules, which are crucial components of a comprehensive annual report.
- Investors should seek the full 10-K filing to access detailed financial statements, management's discussion and analysis, risk factors, and other critical disclosures.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2023, Boston Scientific Corp kept $0.11.
- Revenue$14.24B100.0%
- Cost of revenue−$4.34B30.5%
- Gross profit$9.90B69.5%
- Operating costs−$7.55B53.0%
- Operating income$2.34B16.5%
- Interest, other & tax−$751.0M5.3%
- Net income$1.59B11.2%
Where FY2023 revenue went
$14.24B- SG&A: $5.19B, 36% of revenue
- Cost of revenue: $4.34B, 31% of revenue
- Other operating costs: $2.36B, 17% of revenue
- Net income: $1.59B, 11% of revenue
- Interest, other & tax: $751.0M, 5.3% of revenue
Kept 11% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2023filed February 21, 2024Financial Statements
FY2023 against FY2022
| Line item | FY2023FY2022 | Change |
|---|---|---|
| Revenue | $14.24B$12.68B | +12.3% |
| Cost of Revenue | $4.34B$3.96B | +9.8% |
| Gross Profit | $9.90B$8.73B | +13.4% |
| SG&A Expenses | $5.19B$4.52B | +14.8% |
| Operating Expenses | $7.55B$7.08B | +6.7% |
| Operating Income | $2.34B$1.65B | +42.1% |
| Interest Expense | $265.00M$470.00M | −43.6% |
| Net Income | $1.59B$698.00M | +128.1% |
| EPS (Basic) | $1.08$0.45 | +140.0% |
| EPS (Diluted) | $1.07$0.45 | +137.8% |
| Shares Outstanding (Basic) | 1.45B1.43B | +1.6% |
| Shares Outstanding (Diluted) | 1.46B1.44B | +1.7% |
05—Questions
Frequently Asked Questions
What is the significance of this filing being a 10-K/A?
A 10-K/A signifies an amendment to the original 10-K filing. This means Boston Scientific has made corrections or additions to information previously submitted. Investors should pay close attention to the nature of the amendments to understand what has been changed and why.
What financial information can I expect from the full 10-K filing?
The full 10-K filing will contain detailed financial statements (income statement, balance sheet, cash flow statement), management's discussion and analysis of financial condition and results of operations, segment reporting, notes to financial statements, and information on the company's liquidity and capital resources.
What are the key business segments of Boston Scientific?
Boston Scientific typically operates across several key segments, including Cardiovascular, MedSurg (which may encompass Endoscopy and Urology & Pelvic Health), and Neuromodulation. The full 10-K will provide revenue and performance details for each of these segments.
Where can I find more detailed information about Boston Scientific's risks and future outlook?
The 'Risk Factors' section and 'Forward-Looking Statements' within the full 10-K report are essential for understanding potential challenges and the company's strategic vision and future growth expectations. Management's Discussion and Analysis (MD&A) also provides valuable insights into these areas.
06—Continue