Becton, Dickinson and Company (BDX -0.14%) announced financial results May 2 for its fiscal 2024's second quarter (ended March 31). The medical technology firm not only surpassed analysts' revenue and earnings estimates but also raised its guidance for the full year.
Adjusted diluted earnings per share (EPS) came in at $3.17, beating estimates by approximately 6.7%. Meanwhile, Q2 revenue totaled $5.045 billion, just slightly exceeding the forecast number.
| Metrics | Q2 2024 Results | Analysts' Estimates | Q2 2023 Results | Change (YOY) |
|---|---|---|---|---|
| Adjusted diluted earnings per share | $3.17 | $2.97 | $2.86 | 10.8% |
| Revenue (in billions) | $5.045 | $5.037 | $4.821 | 4.6% |
| BD Medical revenue (in billions) | $2.449 | N/A | $2.360 | 3.8% |
| BD Life Sciences revenue (in billions) | $1.304 | N/A | $1.275 | 2.2% |
| BD Interventional revenue (in billions) | $1.292 | N/A | $1.186 | 9% |
Data sources: Company results from company. Analyst estimates from FactSet.
About Becton, Dickinson
Becton, Dickinson (or BD, as it is often called) is a global leader in medical technology, including medical discovery, diagnostics, and delivery of care. It operates through three segments: BD Medical, BD Life Sciences, and BD Interventional. The company remains focused on expanding production capacities, entering strategic partnerships, and continuing to innovate across its product portfolio.
Quarter highlights
In the second quarter, BD delivered strong performance across its segments. Notably, BD Medical increased domestic production of syringes, a move likely to positively impact future revenue. BD Life Sciences entered a strategic partnership to enhance cervical cancer screening in Singapore, demonstrating its growth ambition in diagnostics. Meanwhile, BD Interventional reported robust 13.6% organic revenue growth, underscoring strong demand in that segment.
In the quarter, the company saw success on the regulatory front with the Food and Drug Administration's clearance of the updated BD Alaris infusion system.
Looking ahead
BD raised its full-year adjusted EPS guidance to a range of $12.95 to $13.15 and maintained its revenue growth expectations. This reflects management's confidence in the company's overall direction, including upcoming product launches and operational improvements.
Still, investors should keep an eye on BD's product rollouts and any further adjustments to financial guidance, as they could significantly influence the stock's performance going forward.
