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Dec 31, 2021
BD Q1 2022 Earnings Report
Reported a decline in revenue due to decreased COVID-19 testing revenues, but experienced growth in base revenues and raised full year guidance.
Key Takeaways
BD reported a 6.0% decrease in revenue to $5.0 billion, driven by a significant decline in COVID-19 testing revenues. However, the company saw an 8.1% increase in base revenues. The company reported GAAP EPS of $2.28 and adjusted EPS of $3.64. BD raised its full year revenue and EPS guidance, reflecting confidence in its BD2025 strategy and strong base business performance.
Revenue declined 6.0% as reported, primarily due to a decrease in COVID-only testing revenues.
Base revenues grew 8.1%, driven by strong performance across all three segments.
GAAP diluted EPS was $2.28, and adjusted diluted EPS was $3.64.
The company raised full year revenue and EPS guidance.
BD
BD
BD Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The company raised its full year revenue and adjusted EPS guidance.
Positive Outlook
- Fiscal year 2022 revenues are expected to be in the range of $19.55 billion to $19.75 billion.
- Base business currency-neutral revenue growth of 5.75% to 6.75% is expected.
- Approximately $450 million in COVID-19-only diagnostic testing revenues are assumed.
- Fiscal year 2022 adjusted diluted EPS to be $12.80 to $13.00.
Challenges Ahead
- Foreign exchange would represent a headwind of approximately 125 basis points to total company revenue growth.
- Outlook reflects numerous assumptions about many factors that could affect its business, based on the information management has reviewed as of this date.
- Outlook continues to assume no extended major system-wide hospital restrictions on deferrable procedures related to the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income