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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.
BD
BD
BD Revenue by Segment
BD Revenue by Geographic Location
Revenue by Segment
BD Medical Revenue
CapyFin.comBD Life Sciences Revenue
CapyFin.comBD Interventional Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com 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.
- Foreign exchange represents a reduction of approximately 75 basis points to total company revenue growth.
- Adjusted diluted EPS includes absorbing an estimated 75 basis point negative impact from the divestiture of the Surgical Instrumentation platform.
- Adjusted diluted EPS includes approximately 375 basis-points negative impact from foreign currency based on current rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income