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BD
🇺🇸 NYSE:BDX
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Dec 31, 2023

BD Q1 2024 Earnings Report

BD's Q1 2024 financial results were released, showcasing margin execution that drove better performance and led to higher guidance for fiscal year 2024.

Key Takeaways

BD reported Q1 revenue of $4.7 billion, a 2.6% increase as reported and a 2.4% organic increase. GAAP EPS was $0.96 and adjusted EPS was $2.68. The company raised its full-year adjusted EPS guidance and midpoint of organic revenue growth guidance.

Q1 revenue increased by 2.6% to $4.7 billion.

GAAP EPS was $0.96, while adjusted EPS reached $2.68.

The company's strong execution of the BD 2025 strategy drove margin performance and cash flow ahead of expectations.

Full-year adjusted EPS guidance was raised, along with the midpoint of organic revenue growth guidance.

Total Revenue
$4.71B
Previous year: $4.59B
+2.6%
EPS
$2.68
Previous year: $2.98
-10.1%
Gross Profit
$2.03B
Previous year: $2.13B
-5.0%
Cash and Equivalents
$1.18B
Previous year: $612M
+92.8%
Free Cash Flow
$725M
Total Assets
$52.3B
Previous year: $53.1B
-1.6%

BD

BD

BD Revenue by Segment

BD Revenue by Geographic Location

Forward Guidance

The company expects fiscal year 2024 revenues to be in the range of approximately $20.2 billion to $20.4 billion. Organic revenue growth is now expected to be 5.5% to 6.25%. The company now expects fiscal year 2024 adjusted diluted EPS to be $12.82 to $13.06.

Positive Outlook

  • Fiscal year 2024 revenues are expected to be in the range of approximately $20.2 billion to $20.4 billion.
  • Organic revenue growth is now expected to be 5.5% to 6.25%.
  • Total currency-neutral revenue growth is now expected to be 4.75% to 5.5%.
  • Fiscal year 2024 adjusted diluted EPS is expected to be $12.82 to $13.06.
  • Adjusted earnings per share guidance reflects growth of approximately 5% to 7%.

Challenges Ahead

  • Total currency-neutral revenue growth continues to reflect a negative impact of approximately 75 basis points from the impact of the Surgical Instrumentation platform divestiture.
  • Foreign exchange represents a reduction of approximately 25 basis points to total company revenue growth.
  • Adjusted earnings per share guidance includes a reduction of approximately 360 basis points from foreign exchange based on current rates.
  • Adjusted earnings per share guidance continues to include the absorption of an estimated 75 basis point negative impact from the divestiture of the Surgical Instrumentation platform.
  • The company's outlook for fiscal 2024 reflects numerous assumptions about many factors that could affect its business.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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