BD reports growth in second fiscal quarter revenues
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BD reports growth in second fiscal quarter revenues

07 May 2021 (Last Updated May 7th, 2021 12:34)

Becton, Dickinson and Company (BD) has reported revenues of $4.9bn in the second fiscal quarter ended 31 March, representing an increase of 15.4% on a reported basis, compared with $4.25bn in the same period last year.

BD reports growth in second fiscal quarter revenues
BD expects its fiscal year 2021 revenues to increase 12%-14% on a reported basis. Credit: SKreutz on Wikimedia.

The revenues growth was 12.2% on a currency-neutral basis. BD attributed the growth to the revenues from its Covid-19 diagnostic products, which reached $480m.

Diluted earnings per share (EPS) for the quarter also rose 77.4% to $0.94, as against $0.53 in the year-ago quarter. Adjusted diluted EPS increased from $2.55 to $3.19.

For the three months ending 31 March, the company’s operating income and net income grew 17.4% to $434m and 63.4% to $299m, respectively.

The global revenues of the BD Medical segment were $2.3bn for the quarter, a 7.4% year-on-year increase on a reported basis and 4.7% on a currency-neutral basis.

These revenues were driven by the Medication Delivery Solutions and Pharmaceutical Systems units.

Meanwhile, the BD Life Sciences segment generated $1.6bn in worldwide revenues, representing an increase of 42.5% on a reported basis and 37.7% on a currency-neutral basis.

The company said that the Life Sciences segment growth was mainly due to the sales of its Covid-19 tests under the Integrated Diagnostic Solutions unit.

For the quarter, the BD Interventional segment recorded a 2.1% rise in global revenues to $1bn as reported, while the revenues were flat on a currency-neutral basis.

The Peripheral Intervention and Urology and Critical Care units contributed to this growth.

BD continues to project its fiscal year 2021 revenues to increase 12%-14% and 10%-12% on a reported basis and currency-neutral basis, respectively.

BD chairman, CEO and president Tom Polen said: “We delivered strong revenue, earnings per share and cash flow growth in the quarter and achieved several important milestones, most notably the recent submission of our 510(k) premarket notification for the BD Alaris System to the US Food and Drug Administration.”

In addition, the company has plans to spin off its Diabetes Care business as an independent, publicly traded entity called NewCo. The move is intended to help BD focus on its Medical, Life Sciences and Interventional businesses and growth opportunities.