Boston Scientific Corporation

If you are using speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed, then you would like to withdraw your question, please press star then 2. At this time we will pause momentarily to assemble our roster. And the first question comes from the line of Robin Marcus with JP Morgan. Please go ahead.

Hi, good morning, and congrats on a great quarter. And since many of us are at TCT, I'll add the nice agent DCP trial as well. I had two questions. I had two questions, so I'll just go with one here. As we go back to the analyst day, you pointed to 8% to 10% growth and 150 basis points of operating margin expansion over the three-year time frame. And I believe one of the comments was at the beginning of the range, it'll be towards the lower end and accelerate as you have some of your big new product launches coming. So I'm looking at 2024 here, and I see the street at 8% to 9% organic sales growth and about 50 basis points margin expansion. I just want to make sure we're interpreting the comments you made at the end correctly and any thoughts you have on directionality for next year. Thanks a lot.

Yeah, sure, Robbie. I think relative to the analyst day commentary, let me just reiterate just to make sure we're all on the same page. So as you said, 8% to 10% organic revenue growth over the period 24 to 26, 150 basis points of margin expansion over that three-year period, which would put us, assuming we're at that 26.4 at the end of this year, kind of near that 28, which is a nice jumping off point for that 30% long-term goal. And then we said that the 2025 revenue growth rate would likely be higher than our 2024 revenue growth rate due to the launches that are coming in 2024. So that's really the commentary that we had relative to Investor Day. And obviously, 2023 shaping up to be a great year, good jumping off point heading into 24. But relative to specifics around 24, we're working through our 24 annual planning process here in the fourth quarter. And as you would expect, we'll use that as the basis to give you the guidance when we get to our Q4 earnings call in January.