Becton Dickinson, and Company BDX lowered its fiscal year 2025 guidance and provided an estimated tariff impact on Thursday.The medical device company reported adjusted earnings per share of $3.35, up from $3.17 a year ago. It beat the consensus of $3.28.The company reported first-quarter 2025 sales of $5.27 billion, up 4.5% year-over-year, missing the consensus of $5.35 billion.Becton Dickinson expects fiscal 2025 revenues of $21.8 billion and $21.9 billion. Its previously issued guidance of $21.7 billion  ...

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Revenue Performance - For the three months ended March 31, 2025, worldwide revenues were $5.272 billion, reflecting a 4.5% increase from the prior-year period[104]. - The Medical segment's total revenues for the six months ended March 31, 2025, were $5.375 billion, representing a 14.9% increase compared to $4.679 billion in the same period of 2024[108]. - The Life Sciences segment's total revenues for the six months ended March 31, 2025, were $2.545 billion, a decrease of 1.8% from $2.592 billion in the prior year[113]. - The Advanced Patient Monitoring acquisition contributed a 5.1% increase to current-period revenues[104]. - Interventional segment total revenues for Q2 2025 were $1,264 million, a decrease of 2.2% compared to Q2 2024, with a foreign exchange neutral (FXN) change of -1.1%[117]. - Total Interventional revenues for the six months ended March 31, 2025, were $2,521 million, a 1.6% increase compared to the same period in 2024[117]. - The U.S. revenue growth in Q2 2025 was 7.0%, reaching $3,108 million, driven by the Advanced Patient Monitoring unit's sales and strong performance in Medication Management Solutions[122][123]. - International revenues increased by 1.2% to $2,164 million in Q2 2025, with strong sales in Latin America and certain Greater Asia countries, despite a decline in China[124]. Income and Expenses - The Medical segment's operating income for the three months ended March 31, 2025, was $550 million, with a segment income as a percentage of revenues at 19.9%[109]. - The Life Sciences segment's income for the three months ended March 31, 2025, was $377 million, with a segment income as a percentage of revenues at 30.2%[114]. - The Interventional segment income for Q2 2025 was $392 million, with a segment income margin of 31.0%, compared to 30.0% in Q2 2024[118]. - For the three months ended March 31, 2025, net income was $308 million, and diluted earnings per share were $1.07, compared to $537 million and $1.85 for the same period in 2024, representing a decrease of 42.7% and 42.0% respectively[138]. - For the six months ended March 31, 2025, net income was $611 million, and diluted earnings per share were $2.11, compared to $818 million and $2.81 for the same period in 2024, reflecting a decrease of 25.3% and 25.0% respectively[138]. - Operating activities generated $857 million in cash for the first six months of fiscal year 2025, down from $1,369 million in the same period of 2024[139]. - Selling and administrative expenses increased to $1,273 million in Q2 2025, accounting for 24.2% of revenues, up from 23.6% in Q2 2024[130][131]. - Research and development expenses for Q2 2025 were $302 million, representing 5.7% of revenues, reflecting the timing of project spending[130][132]. - Net interest expense for Q2 2025 was $146 million, an increase from $99 million in Q2 2024, primarily due to higher total debt levels[135]. Regulatory and Compliance Issues - The company is operating under a consent decree with the FDA regarding its infusion pump unit, which may impose penalties of $15,000 per day for non-compliance[158]. - On November 22, 2024, BD received a Dispensing Warning Letter from the FDA, citing violations of quality system regulations, with potential future costs for product remediation efforts[162]. - The company plans to remediate or replace all legacy BD Alaris™ Infusion System devices in the U.S. market over the next several years following FDA clearance for the updated system[160]. - The company has proactively installed emissions controls at facilities in East Columbus, NE and Sandy, UT to comply with new EPA regulations on ethylene oxide emissions, which may incur additional operational costs[164]. - The final NESHAP regulations for ethylene oxide emissions became effective on April 5, 2024, requiring compliance within two years, impacting BD's sterilization operations and costs[164]. - The EPA published a Notice of Availability for a Pesticide Registration Review for ethylene oxide on January 14, 2025, which may necessitate changes at BD's sterilization facilities[165]. - Regulatory changes could interrupt sterilization operations, adversely impacting production and leading to potential civil litigation against BD[166]. - The company is assessing the impact of increased regulatory scrutiny on its operations and third-party sterilization facilities[165]. - BD's business continuity plans are in place to mitigate disruptions, but may not fully offset potential impacts from regulatory changes[166]. Strategic Initiatives and Future Plans - The company plans to separate its Biosciences and Diagnostic Solutions business, targeting completion of the transaction in fiscal year 2026[98]. - The company continues to pursue growth opportunities in emerging markets, including Eastern Europe, the Middle East, Africa, and Latin America[97]. - The company aims to achieve anticipated benefits from any restructuring programs undertaken[174]. Risks and Challenges - The company faces risks from general economic downturns, inflation, and supply chain disruptions that could negatively affect demand for its products[170]. - Increased competition and changes in healthcare delivery could affect demand for BD's products and services, impacting sales and pricing[172]. - The proposed separation of BD's Biosciences and Diagnostic Solutions business may present risks related to completion and realization of expected benefits[170]. - The company faces challenges in recruiting and retaining key employees, which may lead to increased labor costs and operational inefficiencies[174]. - Fluctuations in demand for products sold to pharmaceutical companies may arise due to funding constraints and market consolidation[174]. - Climate change and related regulatory measures could increase operational costs and necessitate changes in manufacturing processes[174]. - Natural disasters and global events may disrupt supply chains and decrease product demand, impacting overall business operations[174]. - The company is subject to potential litigation and investigations regarding compliance with various laws, which could affect financial stability[174]. - New regulations may require re-registration of products and could impact marketing capabilities, particularly concerning environmental laws[174]. - Adverse media exposure could negatively affect the company's reputation and product demand[174]. - Market fluctuations may impact the value of assets in pension plans, potentially increasing pension plan expenses[174]. - There have been no material changes in market risk information since the end of the fiscal year on September 30, 2024[175].

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For the quarter ended March 2025, Becton Dickinson (BDX) reported revenue of $5.27 billion, up 4.5% over the same period last year. EPS came in at $3.35, compared to $3.17 in the year-ago quarter.The reported revenue represents a surprise of -1.74% over the Zacks Consensus Estimate of $5.37 billion. With the consensus EPS estimate being $3.28, the EPS surprise was +2.13%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...

Becton Dickinson (BDX) came out with quarterly earnings of $3.35 per share, beating the Zacks Consensus Estimate of $3.28 per share. This compares to earnings of $3.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.13%. A quarter ago, it was expected that this medical device manufacturer would post earnings of $2.98 per share when it actually produced earnings of $3.43, delivering a surprise of 15.10%.Over the last four qua ...

Becton, Dickinson and Company (BDX) Q2 2025 Earnings Call May 01, 2025 08:00 AM ET Company Participants Greg Rodetis - SVP, Treasurer & Head of Investor RelationsTom Polen - Chairman, CEO & PresidentChristopher DelOrefice - Executive VP & CFOMatthew Taylor - Managing DirectorTravis Steed - Managing Director - Equity ResearchMichael Feld - President & EVPDavid Roman - Managing Director Conference Call Participants Larry Biegelsen - AnalystRobbie Marcus - AnalystPatrick Wood - AnalystMatthew Miksic - Analyst ...

Becton, Dickinson and Company (BDX) Q2 2025 Earnings Call May 01, 2025 08:00 AM ET Speaker0 Hello, and welcome to Second Fiscal Quarter twenty twenty five Earnings Call. At the request of BD, today's call is being recorded and will be available for replay on BD's Investor Relations website, investors.bd.com, or by phone at (800) 839-2385 for domestic calls and area code +1 402220203 for international calls. For today's call, all parties have been placed in a listen only mode until the question and answer se ...

Q2 FY25 Earnings Presentation May 1, 2025 Advancing the world of healthTM Q2 FY25 EARNINGS PRESENTATION MAY 1, 2025 2 Basis of Presentation All dollar amounts presented are USD ($) in millions, unless otherwise indicated, except per share figures. FXN denotes currency-neutral basis. Revenue year-over-year change comparisons are on an FXN basis unless otherwise noted. Caution Concerning Forward-looking Statements This presentation and accompanying webcast contain certain estimates and other forward-looking s ...

Revenue Performance - Revenue for Q2 fiscal 2025 was $5.3 billion, representing a 4.5% increase as reported, 6.0% currency-neutral, and 0.9% organic growth[4] - Revenues for Q2 2025 were $5,272 million, representing a 4.5% increase compared to $5,045 million in Q2 2024[28] - For the first six months of fiscal year 2025, revenues reached $10,440 million, a 7.1% increase from $9,751 million in the same period of 2024[29] - Total revenues for the first quarter of fiscal year 2025 reached $5,272 million, a 4.5% increase compared to $5,045 million in the same period of 2024[38] - Total revenues for the six months ended March 31, 2025, were $10,440 million, representing a 7.1% increase compared to $9,751 million in the same period of 2024[47] - In the United States, total revenues increased by 7.0% to $3,108 million from $2,906 million year-over-year[32] - International revenues showed a slight increase of 1.2% to $2,164 million compared to $2,139 million in the previous year[35] Segment Performance - BD Medical segment revenue grew by 12.7% to $2.76 billion, driven by strong performance in Medication Management Solutions[8] - BD Life Sciences segment reported a revenue decline of 4.3% to $1.25 billion, impacted by lower demand in Diagnostic Solutions[8] - BD Medical segment reported total revenues of $2,760 million, up 12.7% from $2,449 million year-over-year[38] - BD Life Sciences segment total revenues decreased by 4.3% to $1,247 million from $1,304 million in the previous year[38] - BD Interventional segment revenues declined by 2.2% to $1,264 million compared to $1,292 million in the same quarter of 2024[38] - BD Medical organic revenue for the three months ended March 31, 2025, was $2,503 million, reflecting a 2.2% increase from $2,449 million in 2024[50] - BD Medical segment revenues increased to $5,375 million, a 14.9% increase from $4,679 million in 2024, with Medication Delivery Solutions growing by 3.8%[47] - BD Life Sciences segment reported revenues of $2,545 million, a decrease of 1.8% from $2,592 million in 2024, with Biosciences declining by 5.2%[47] Earnings and Guidance - GAAP diluted EPS was $1.07, down 42.2% from the previous year, while adjusted diluted EPS increased by 5.7% to $3.35[6] - Adjusted diluted EPS guidance for fiscal 2025 is now projected to be between $14.06 and $14.34, indicating a year-over-year growth of approximately 7.0% to 9.1%[16] - Reported diluted earnings per share (EPS) for the three months ended March 31, 2025, was $1.07, down 42.2% from $1.85 in 2024[53] - The company expects FY 2025 reported revenue growth to be between +8.0% to +8.5%, with total revenues projected to be approximately $21.8 to $21.9 billion[58] - Organic revenue growth for FY 2025 is anticipated to be between +3.0% to +3.5%[58] - The company anticipates a reported percentage change in earnings of +7.0% to +9.1% for FY 2025[61] Costs and Expenses - Operating income for Q2 2025 decreased by 25.5% to $546 million from $734 million in Q2 2024[28] - Total operating costs and expenses for Q2 2025 were $4,725 million, an increase of 9.6% from $4,311 million in Q2 2024[28] - Cash and equivalents as of March 31, 2025, were $667 million, down from $1,717 million as of September 30, 2024[30] - The company reported a net cash provided by continuing operating activities of $857 million for the first six months of 2025[31] - Total assets decreased to $54,467 million as of March 31, 2025, from $57,286 million as of September 30, 2024[30] Strategic Initiatives - The company plans to invest $2.5 billion in U.S. manufacturing capacity over the next 5 years to enhance its position in the medical device market[5] - The Advanced Patient Monitoring business unit launched the HemoSphere Alta™ Advanced Monitoring Platform, featuring AI-driven clinical decision support[5] - The company split its Integrated Diagnostic Solutions unit into two separate units to better align resources with business needs[33] - The company restructured its Life Sciences segment by splitting the Integrated Diagnostic Solutions unit into two distinct units to better align resources[48] Regulatory and Compliance Issues - The company received FDA clearance for the Phasix™ ST Umbilical Hernia Patch, marking a significant advancement in its product offerings[9] - BD was named to Fortune's 2025 list of America's Most Innovative Companies, ranking in the top 25% overall[9] - European regulatory initiative-related costs reached $104 million pre-tax, reflecting compliance efforts with new regulations[62] - The tax impact of specified items and other tax-related adjustments was ($297) million, influencing net earnings[61] - The company recorded $67 million in accruals impacting revenues due to legal matters and $175 million related to an SEC investigation[62] - Future costs for product remediation efforts included charges of $38 million to cost of products sold, indicating ongoing operational challenges[62] Challenges - The company faced significant challenges including macroeconomic conditions, supply chain disruptions, and competitive pressures impacting future performance[27] - Purchase accounting adjustments amounted to $1.503 billion pre-tax, impacting reported earnings significantly[61] - Integration costs incurred were $23 million pre-tax, while restructuring costs totaled $387 million pre-tax[61] - Transaction costs related to the Advanced Patient Monitoring acquisition were $48 million pre-tax, with financing costs recorded as ($8) million pre-tax[61] - Product, litigation, and other items accounted for $346 million pre-tax, affecting overall financial performance[62]