BD Reports Q3 Results; Raises Full-Year Guidance

BD (Becton Dickinson) has released the financial results for Q3 of its fiscal year 2024.
 
The Franklin Lakes, N.J.-based company reported $4.99 billion of revenue for the quarter ended June 30, 2024. Profits for the quarter reached $487 million, meaning earnings per share (EPS) grew 23.5% to $1.68 for stockholders.
 
U.S. sales swelled 4.3% to $2.89 billion while International proceeds shrank a slight 0.3% to $2.1 billion. The Medical segment rose 5.1% to $2.55 billion for the quarter, impacted by increased Vascular Access Management  and hypodermics market position, strong Infusion growth driven by Alaris, and headwinds in Chine.
 
Life Sciences posted a 2.7% growth with sales of $1.26 billion. Specimen Management and the BD Vacutainer portfolio led the charge here.
 
Interventional revenue reached $1.24 billion, a 1.8% ascent. All three major Surgical platforms experienced double-digit percentage gains, as did Peripheral Intervention. Oncology declined somewhat thanks to market dynamics in China.
 
As a result, BD updated its fiscal 2024 GAAP revenue growth guidance to about 3.7% and organic revenue growth guidance to 5-5.25%. Adjusted diluted EPS guidance was raised five cents at the midpoint to $13.05-$13.15.
 
“We delivered strong performance across multiple parts of our portfolio, and accelerated margin expansion and cash flow driven by growing momentum of our BD Excellence operating system,” said Tom Polen, chairman, CEO and president of BD. “It’s never been clearer that our teams are transforming BD into the innovative MedTech leader we set out to be when we launched our BD 2025 strategy, and our focused efforts have positioned us well to achieve our increased fiscal 2024 earnings guidance and deliver on our long-term goals.”

Q3 and recent highlights

• Began $4.2 billion deal to acquire Edwards’ critical care business
• Settled patent lawsuits with AngioDynamics