Boston Scientific misses guidance due to cyberattack disruptions
Boston Scientific warned on Tuesday it is unlikely to meet its full-year and third-quarter financial targets after a cyberattack disrupted operations globally. The company reported unauthorized activity detected August 25, causing network outages that impacted manufacturing and order fulfillment. Boston Scientific's stock dropped over 4% following the announcement. The firm had previously projected adjusted earnings of $3.28 to $3.32 per share for full-year 2026 with net sales growth between 5.5% and 6.5%. For Q3, it forecasted earnings of 80 cents to 82 cents per share and a 3%-to-5% revenue increase. The company expects some recovery but noted the total financial impact remains unclear. Recovery efforts are ongoing with logistics infrastructure largely restored and key distribution hubs operating at or above normal levels. Boston Scientific emphasized that its long-term outlook is not expected to be materially affected by the incident.
Topics: cyberattack financial guidance miss stock price movement