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Jun 30, 2024
BD Q3 2024 Earnings Report
BD reported strong Q3 2024 financial results, driven by strong margin execution.
Key Takeaways
BD reported Q3 fiscal 2024 results with revenue of $5.0 billion and adjusted revenue of $5.1 billion. GAAP diluted EPS was $1.68 and adjusted diluted EPS was $3.50, representing growth of 23.5% and 18.2%, respectively. The company updated its fiscal 2024 GAAP revenue growth guidance to approximately 3.7%, and its organic revenue growth guidance to 5.0% to 5.25%. The company increased its fiscal 2024 adjusted diluted EPS guidance by 5 cents at the midpoint to $13.05 to $13.15.
Revenue of $5.0 billion as reported, adjusted revenue of $5.1 billion, driven by strong organic revenue growth
GAAP and adjusted diluted EPS of $1.68 and $3.50 grew 23.5% and 18.2%, respectively
Year-to-date Cash from Continuing Operations grew 60% to $2.7 billion and Free Cash Flow grew over 100% to $2.2 billion
The company increased its fiscal 2024 adjusted diluted EPS guidance by 5 cents at the midpoint to $13.05 to $13.15
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company updated its fiscal 2024 revenue growth guidance, reflecting market dynamics partially offset by continued broad strength across its portfolio. The company increased its adjusted diluted earnings per share guidance by 5 cents at the midpoint to a range of $13.05 to $13.15 driven by the strength of its margin performance and updated margin outlook for the full fiscal year.
Positive Outlook
- Fiscal 2024 GAAP Revenues ~$20.1 billion
- Fiscal 2024 GAAP Revenue Growth ~3.7%
- Fiscal 2024 Adjusted Revenues ~$20.1 to $20.2 billion
- Fiscal 2024 Organic Revenue Growth (FXN)5.0% to 5.25%
- Fiscal 2024 Adjusted Diluted EPS $13.05 to $13.15
Challenges Ahead
- Estimated Impact of Surgical Instrumentation Platform Divestiture included in Adjusted Diluted EPS(~75) basis points
- Illustrative Foreign Currency (FX) Impact(~35) basis points
- FY 2024 Revenue Growth (adjusted)(FXN)+4.25% to 4.5%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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