Boston Scientific says unlikely to meet 2026 sales, profit forecast after cyberattack
FILE PHOTO: A general view of the logo of Boston Scientific, a medical device developing and manufacturing company, in Galway, Ireland, April 11, 2025. REUTERS/Clodagh Kilcoyne/File Photo
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Sept 8 : Boston Scientific said on Tuesday it no longer expects to meet its previously issued third-quarter and full-year 2026 sales and adjusted profit forecasts, after a cybersecurity incident disrupted the medical device maker’s global operations.
An unauthorized activity on some of its information technology systems, first identified on August 25, caused a network outage that affected access to operating systems and business applications, disrupting manufacturing and the processing and shipment of customer orders, the company said in a regulatory filing. Its shares were down 2.1 per cent before the bell.
Boston Scientific had said in July it expects 2026 adjusted earnings of $3.28 to $3.32 per share, and forecast 2026 net sales growth between 5.5 per cent and 6.5 per cent on a reported basis.
For the third quarter, the company expected adjusted earnings to be in the range of 80 cents to 82 cents per share.
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The company said it has made progress restoring affected systems, with major distribution centers now processing and shipping orders at or above normal levels. Sterilization facilities are operational and manufacturing has resumed across most of its facilities globally.
Boston Scientific said it expects to recover a portion of the lost revenue as it ramps up operations, fulfills customer orders and reduces backlogs, but the full financial impact of the incident remains uncertain.
The incident is the latest in a series of cyberattacks on the healthcare sector, with medical device makers Abbott Laboratories, Stryker and Medtronic, health insurer Clover Health and drugmaker Novo Nordisk among those recently hit.
Boston Scientific plans to provide an update on the operational and financial impact of the incident when it reports third-quarter results on October 28.
Source: Reuters
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