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Becton, Dickinson (BDX) Tops Q3 Earnings, Misses On Revenues

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Based in New Jersey, Becton, Dickinson and Company (BDX - Free Report) is a medical technology company engaged principally in the development, manufacture and sale of medical devices, instrument systems and reagents. These products are used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public.

Currently, Becton, Dickinson has a Zacks Rank #2 (Buy) but that could change following its third-quarter fiscal 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.) We have highlighted some of the key details from the just-released announcement below:

Earnings: Becton, Dickinson’s adjusted earnings of $2.46 per share beat the Zacks Consensus Estimate by 2 cents and increased 4.7% from $2.35 posted in the year-ago quarter. On a comparable currency-neutral basis, earnings soared 7.7% year over year.

Revenues: Reported revenues amounted to $3.035 billion, down 5.1% on a year-over-year basis owing to divestiture of the Respiratory Solutions business. However, revenues were up 2.4% from the year-ago quarter on a comparable currency-neutral basis. Revenues missed the Zacks Consensus Estimate of $3.056 billion.

Becton, Dickinson and Company Price and EPS Surprise


Key Stats: The company expects fiscal 2017 revenues to fall in the range of 3% to 3.5% owing to divestiture of the Respiratory Solutions business. Fiscal year 2017 adjusted earnings per share are expected to be between $5.10 and $5.15. This represents growth in the band of 14% to 15.0% approximately. 

Major Factors: BD Medical generated revenues of $2.038 billion, down 8.8% on a year-over-year basis. Impressive results in the company’s medical segment reflect strong performance in the Medication and Procedural Solutions, Diabetes Care and Pharmaceutical Systems units.

BD Life sciences generated revenues of $997 million, up 3.5% from the year-ago quarter. Revenue growth in the BD Life sciences segment reflects strong performance in Biosciences unit and solid growth in the Diagnostic Systems and Preanalytical Systems units.

Check back later for our full write up on this Becton, Dickinson and Company earnings report!

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