BD tops Q4 revenue estimates and sets FY27 profit forecast
Adjusted EPS of $4.15 was in line with the $4.11 consensus estimate, and revenue of $5.27 billion topped the $5.16 billion estimate.
Key takeaways
- Becton Dickinson (BDX) reported fourth-quarter adjusted EPS of $4.15, in line with the $4.11 consensus estimate, and revenue of $5.27 billion, which topped the $5.16 billion consensus estimate. For fiscal 2027 it forecast adjusted EPS of $13.10 to $13.30 and low single-digit revenue growth.
Becton Dickinson (BDX) posted fourth-quarter revenue of $5.27 billion, topping the $5.16 billion consensus, and adjusted earnings of $4.15 per share, in line with the $4.11 consensus.
Shares rose 2.0% at 10:04 a.m. ET, from a $209.19 close.
Here's how the company did:
- Revenue: $5.27 billion vs. $5.01 billion a year earlier
- Adjusted EPS: $4.15 vs. $3.26 a year earlier, $4.11 expected
- Reported EPS: $2.52 vs. $1.20 a year earlier
Revenue rose 5.4% as reported and 5.6% on a currency-neutral basis.
Results cover continuing operations after the February 9 spin-off of Biosciences and Diagnostic Solutions and its combination with Waters Corporation.
Net income swung from a loss of $311.0 million in the second quarter of fiscal 2026 to a profit of $377.0 million in the third quarter.
Segment results
Medical Essentials revenue rose 5.9% to $1.79 billion.
Interventional grew 7.6% to $1.47 billion.
BioPharma Systems rose 6.5% to $748 million.
Connected Care edged up 1.6% to $1.27 billion.
Fiscal 2027 guidance
BD expects low single-digit revenue growth in fiscal 2027, on both a reported and currency-neutral basis. Reported revenue for fiscal 2026 was $19.46 billion.
Adjusted diluted EPS is forecast at $13.10 to $13.30, a reported change of 3.1% to 4.7%.
The illustrative currency effect on fiscal 2027 revenue growth is negative 70 basis points.
BD will hold its 2026 Investor Day on December 10 at the New York Stock Exchange.
Cash and capital returns
Cash from continuing operations rose 30.0% to $3.6 billion in fiscal 2026, and free cash flow rose 42.5% to $2.93 billion.
BD repurchased $2.43 billion of its common stock during the year, up from $1.00 billion a year earlier.
BD intends to invest $19 billion in the U.S. over several years under a partnership with the U.S. Government, with $3 billion directed toward manufacturing expansion.
The agreement also provides relief from future Section 232 tariffs on covered products and inputs, subject to the final scope of any such actions and BD's achievement of agreed milestones.