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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.
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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