BSX · Boston Scientific · Q3 FY2026
Boston Scientific Sees Growth Slow and Margins Narrow
Revenue growth moderated to 1.4% from 7.5%, and operating margin narrowed 458 basis points to 16.1%.
- Published
- Oct 28, 2026
- Event
- Oct 28, 2026
- Quarter ended
- Sep 30, 2026
- Data as of
- Oct 28, 2026
Published becauseQuarterly results were reported (Oct 28, 2026).
The Blockhaven read
Boston Scientific's quarter softened on the measures that moved: revenue growth moderated to 1.4% from 7.5% and operating margin narrowed 458 basis points to 16.1%. GAAP operating income fell 21.0% against 1.4% revenue growth, so profit moved by more than sales, with the narrower margin accounting for the gap. A single quarter shows a direction, not yet a trend.
Latest reported quarter
Earnings release filed Oct 28, 2026
RevenueGAAP
- Latest
- $5.14 billion
- Year ago
- $5.07 billion
- Change
- +1.4% (Up year over year)
From the earnings release
Operating incomeGAAP
- Latest
- $828 million
- Year ago
- $1.05 billion
- Change
- −21.0% (Down year over year)
From the earnings release
Net incomeGAAP
- Latest
- $582 million
- Year ago
- $755 million
- Change
- −22.9% (Down year over year)
From the earnings release
Diluted EPSGAAP
- Latest
- $0.40
- Year ago
- $0.51
- Change
- −21.6% (Down year over year)
From the earnings release
Operating margin (GAAP)Derived
- Latest
- 16.1%
- Year ago
- 20.7%
- Change
- −458 bp (Down year over year)
Gross margin (GAAP)Derived
- Latest
- 66.7%
- Year ago
- 69.9%
- Change
- −321 bp (Down year over year)
| Measure | Basis | Latest quarter | Year ago | Change |
|---|---|---|---|---|
| RevenueFrom the earnings release | GAAP | $5.14 billion | $5.07 billion | +1.4% (Up year over year) |
| Operating incomeFrom the earnings release | GAAP | $828 million | $1.05 billion | −21.0% (Down year over year) |
| Net incomeFrom the earnings release | GAAP | $582 million | $755 million | −22.9% (Down year over year) |
| Diluted EPSFrom the earnings release | GAAP | $0.40 | $0.51 | −21.6% (Down year over year) |
| Operating margin (GAAP) | Derived | 16.1% | 20.7% | −458 bp (Down year over year) |
| Gross margin (GAAP) | Derived | 66.7% | 69.9% | −321 bp (Down year over year) |
Revenue growth +1.4% against +7.5% in the prior quarter (year over year, GAAP).
Trend: Deteriorating. Revenue growth slowed, operating margin narrowed and GAAP operating income weakened.
GAAP unless labelled. Non-GAAP and company-defined measures are labelled.
What changed
- Revenue growth slowed to 1.4% from 7.5%.
- Operating margin narrowed 458 basis points year over year, to 16.1% from 20.7% (GAAP).
- GAAP operating income fell 21.0% year over year, with net income 22.9% and diluted EPS 21.6% moving the same way.
Why it matters
Revenue rose 1.4%, but the margin narrowed 458 basis points, more than offsetting the added sales and leaving operating income 21.0% lower: margin, not volume, set the direction of operating profit this quarter.
Market reaction
At 8:15 AM ET on Oct 28, 2026, the quoted share price was down 12.3% from the prior close. This is a timed price observation, not an explanation of the move.
What to watch
- Operating margin at the next report against 16.1% this quarter: a further move in the same direction would confirm this reading, and a reversal would weaken it.
- Year-over-year revenue growth against 1.4% now and 7.5% before: a stabilisation would ease the tension with the outlook, and a further slowdown would sharpen it.
- The quarterly report on Form 10-Q for Q3 FY2026, which confirms or revises the figures in the earnings release.
Data and sources
Figures come from the company's SEC filings and its own 8-K earnings release, filed Oct 28, 2026. GAAP figures are labelled as such. Blockhaven used no outside forecasts, so no figure here is measured against market expectations.
Descriptive company facts. Not investment advice, a rating or a recommendation.