BD Shares Decline After Q3 Revenue Miss Despite Earnings Beat

FRANKLIN LAKES, N.J. – Becton, Dickinson and Company, a prominent global medical technology company, has reported its earnings for the third quarter of fiscal 2024, exceeding analysts’ expectations.

The company posted an adjusted earnings per share (EPS) of $3.50, outperforming the analyst forecast of $3.31 by $0.19. However, its quarterly revenue reached $5.06 billion, marginally missing the consensus estimate of $5.08 billion.

Despite the positive earnings report, BD’s stock experienced a decline of 2.5% in response to the slight revenue shortfall.

Tom Polen, the company’s chairman, CEO, and president, highlighted strong performance across several areas of the portfolio, pointing to advancements in margin expansion and cash flow growth attributed to their BD Excellence operating system. "Our teams are transforming BD into the innovative MedTech leader we set out to be with our BD 2025 strategy," Polen stated.

In the third quarter, BD achieved a 3.7% increase in adjusted revenue compared to the previous year, rising from $4.878 billion to $5.057 billion. Organic revenue growth—accounting for foreign currency effects and acquisitions or divestitures—increased by 5.2% year-over-year.

Looking forward, BD has updated its fiscal 2024 guidance, projecting GAAP revenue growth of approximately 3.7% and organic revenue growth between 5.0% and 5.25%. The company has also raised its adjusted diluted EPS guidance to a range of $13.05 to $13.15, with the midpoint of $13.10 matching analyst expectations.

The company’s strong performance was driven by notable growth in the BD Medical segment, especially within the Medication Management Solutions and Medication Delivery Solutions units. The BD Life Sciences segment also contributed to revenue growth through its Integrated Diagnostic Solutions unit, while the BD Interventional segment experienced broad organic revenue growth.