BD generated $4.55bn base business revenue in Q1 of fiscal year 2023, a 0.4% increase from the previous year. Credit: SKreutz / commons.wikimedia.org.

Becton, Dickinson and Company (BD) has reported a 2.8% decline in revenue to $4.58bn in the first quarter (Q1) of the fiscal year 2023, from $4.71bn in the same quarter of the previous year.

The base business revenue grew by 0.4%, or 5.2% on a currency-neutral basis, for the quarter, reaching $4.55bn compared to $4.53bn in the prior-year quarter.

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The company’s GAAP stood at $1.70, while the adjusted diluted EPS was at $2.98.

For the quarter, the BD Medical segment reported $2.15bn in revenues, a 1.6% growth from $2.12bn in the same quarter of the previous year.

This growth is attributed to strong performance in the Medication Delivery Solutions (MDS) and Pharmaceutical Systems (PS) business units.

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The BD Life Sciences segment generated $1.3bn revenue, showing a 12.2% decrease from $1.48bn in the prior year’s quarter.

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In the BD Interventional segment, $1.129bn revenue was generated, representing a 1.3% increase from the year-ago quarter.

This growth is mainly driven by strong performance in the Peripheral Intervention (PI) business unit.

BD chairman, CEO and president Tom Polen said: “Our strong performance in Q1 reflects the momentum of our BD 2025 strategy, driven by a combination of innovation and continued strong execution.

“Consistent, durable performance in our base business reflects our team’s relentless focus on delivering category-leading products and transformative solutions that are helping our customers deliver quality and more cost-effective care to patients around the world.”

The company concluded the spin-off of its Diabetes Care business into a separate company, dubbed Embecta, on 1 April 2022.

Last month, BD introduced the new third-generation BD Kiestra Total Lab Automation System for microbiology laboratories.