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Sep 30, 2023
BD Q4 2023 Earnings Report
BD reported strong Q4 2023 financial results driven by the execution of its BD2025 strategy.
Key Takeaways
BD reported Q4 revenue of $5.1 billion, a 6.8% increase as reported and a 5.9% increase on a currency-neutral basis. GAAP EPS was $0.53 and adjusted diluted EPS was $3.42. The company issued FY24 guidance, including 5.75% organic revenue growth at the midpoint of the 5.25% to 6.25% range.
Q4 revenue increased 6.8% as reported and 5.9% on a currency-neutral basis.
Q4 revenue from base business grew 7.3% as reported and 6.3% currency-neutral.
Q4 GAAP EPS was $0.53 and adjusted diluted EPS was $3.42.
The company issued FY24 guidance including 5.75% organic revenue growth at midpoint of 5.25% to 6.25% range.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects fiscal year 2024 revenues to be in the range of approximately $20.1 billion to $20.3 billion and adjusted diluted EPS to be $12.70 to $13.00.
Positive Outlook
- Organic revenue growth is expected to be 5.25% to 6.25% including a headwind of over 25 basis points from the expected decline in COVID-only diagnostic testing.
- Total currency-neutral revenue growth is expected to be 4.5% to 5.5%.
- Adjusted diluted EPS guidance represents growth of approximately 4% to 6.5%.
- On a currency-neutral basis, adjusted diluted EPS guidance represents growth of approximately 8.25% to 10.25%.
- The company expects fiscal year 2024 revenues to be in the range of approximately $20.1 billion to $20.3 billion.
Challenges Ahead
- Organic revenue growth includes a headwind of over 25 basis points from the expected decline in COVID-only diagnostic testing.
- Total currency-neutral revenue growth reflects a negative impact of approximately 75 basis points from the impact of the Surgical Instrumentation platform divestiture.
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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