Becton, Dickinson and Company

Becton, Dickinson and Company Earnings Recaps

BDX Health Care 3 recaps
Q2 2026 May 8, 2026

BD's shares rose 3.2% post-earnings, reflecting investor approval of solid revenue growth and margin expansion driven by strong execution across key growth platforms and an upgraded full-year EPS outlook.

Key takeaways
  • Revenue grew 2.6% to $4.7 billion, led by double-digit growth in biologic drug delivery, Advanced Patient Monitoring, PureWick, and Advanced Tissue Regeneration.
  • Adjusted operating margin improved to 24.2%, supporting adjusted EPS of $2.90, which exceeded management expectations.
  • More than 90% of the portfolio delivered mid-single-digit growth, indicating broad-based strength despite targeted pressure in Alaris, vaccines, and China.
  • Management raised full-year adjusted EPS guidance, signaling confidence in the New BD strategy’s ability to drive sustainable growth and improve capital allocation.
  • Commercial execution gains included notable share increases in Alaris and accelerated customer adoption in Connected Care and BioPharma Systems.
Full recap
Q1 2026 Feb 9, 2026

Becton, Dickinson and Company reported stronger-than-expected Q1 results for fiscal 2026, driven by disciplined execution and robust growth across key areas, despite challenges in certain segments.

Key takeaways
  • Revenues reached $5.3 billion, with new segments growing by 2.5% supported by double-digit growth in biologic drug delivery and advanced tissue regeneration.
  • Adjusted gross margin improved to 53.4%, and adjusted EPS was $2.91, both exceeding expectations.
  • The company is set to close a significant Reverse Morris Trust transaction with Waters, unlocking $4 billion in cash, with plans to allocate $2 billion to share repurchases and $2 billion for debt reduction.
  • Enhanced capital allocation strategy emphasizes share buybacks, consistent dividends, and focused M&A to drive return on invested capital.
Full recap
Q4 2025 Nov 6, 2025

BD reported a solid Q4 with revenues of $5.9 billion, reflecting a 7% year-over-year increase, while the full year saw record revenues of $21.8 billion, supported by strong organic growth across key segments.

Key takeaways
  • Q4 adjusted diluted EPS increased to $3.96, contributing to a full-year record of $14.40, driven by efficient operations and revenue growth.
  • New BD's organic growth accelerated to 4.9%, demonstrating resilience despite pressure from vaccine demand fluctuations and research funding constraints.
  • The company returned $2.2 billion to shareholders, including a significant $1 billion share buyback, while announcing its 54th consecutive dividend increase.
  • Initiatives to optimize performance include restructuring for commercial excellence, expanding the sales force, and investing $50 million into R&D to drive future innovation and growth.
  • BD's robust portfolio and strategic investments position it for continued mid-single-digit growth amidst ongoing market dynamics.
Full recap