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Sep 30
BD Q4 2025 Earnings Report
BD reported its fourth quarter and full year fiscal 2025 financial results, with Q4 revenue increasing by 8.3% and adjusted diluted EPS growing by 3.9%.
Key Takeaways
BD delivered a strong performance in the fourth quarter of fiscal 2025, with significant growth in revenue and adjusted diluted EPS. The company's resilient business model and operational execution drove 3.9% organic growth in New BD, along with substantial adjusted margin and earnings expansion. Strategic initiatives, including the upcoming combination of Biosciences and Diagnostic Solutions with Waters Corporation, are on track to further enhance long-term value.
Q4 revenue reached $5.9 billion, marking an 8.3% increase as reported and 3.9% organic growth.
Q4 GAAP diluted EPS grew to $1.72, while adjusted diluted EPS increased to $3.96.
BD Medical segment showed strong performance with 11.2% reported revenue growth, driven by Advanced Patient Monitoring and Infusion Systems.
BD Interventional segment reported 8.5% revenue growth, reflecting double-digit growth in Urology and Critical Care.
The company is on track to complete the combination of BD's Biosciences and Diagnostic Solutions business with Waters Corporation around the end of the first quarter of calendar year 2026.
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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
For fiscal year 2026, BD anticipates low single-digit plus GAAP revenue growth and low single-digit revenue growth on a foreign currency neutral basis. Adjusted diluted EPS is projected to be between $14.75 and $15.05.
Positive Outlook
- Anticipated low single-digit plus GAAP revenue growth for FY26.
- Expected low single-digit revenue growth on a foreign currency neutral (FXN) basis for FY26.
- Projected adjusted diluted EPS range of $14.75 to $15.05 for FY26, indicating continued earnings expansion.
- The company remains on track to complete the combination of BD's Biosciences and Diagnostic Solutions business with Waters Corporation, which is expected to create a leading Med Tech company.
- Continued focus on BD Excellence is expected to drive stronger margins and long-term value.
Challenges Ahead
- Guidance excludes potential charges or gains, such as amortization of intangible assets and acquisition-related charges, which could materially impact GAAP measures.
- The impact and timing of certain potential charges or gains are inherently uncertain and difficult to predict.
- The outlook is based on numerous assumptions about factors that could affect the business, which may not materialize as expected.
- Risks related to macroeconomic conditions, including inflation, currency fluctuations, and increased borrowing costs, could impact performance.
- Competitive factors, changes in reimbursement practices, and regulatory actions could affect product demand and pricing.