Becton, Dickinson and Company (BD) has reported a 26.9% growth in revenues on a reported basis to $4.9bn in the third fiscal quarter (Q3) ended 30 June 2021, compared with $3.9bn in the same quarter last year.
The revenues grew 22% on a currency-neutral basis for the quarter.
BD attributed the rise in revenue to robust base business performance owing to continued improvement of overall healthcare usage levels from the early Covid-19 impact.
For the quarter, GAAP diluted earnings per share (EPS) increased by 77.3% to $1.72 compared with $0.97 in the year-ago quarter.
BD recorded a growth of 24.5% on a reported basis or 25.9% on a currency-neutral basis in the adjusted diluted EPS to $2.74 in Q3 of this fiscal year (FY) compared to $2.20 in the same period last year.
The Q3 FY2021 revenues in the BD Medical segment reached $2.4bn from $2.12bn in the year-ago quarter, witnessing an 11.9% increase on a reported basis and a 7.7% growth on a currency-neutral basis.
During the quarter, BD Life Sciences revenues rose to $1.4bn from $951m, marking a 50.7% increase on a reported basis and 43.4% on a currency-neutral basis.
Revenue growth of BD Integrated Diagnostic Solutions (IDS) comprised $300m in sales linked to Covid-19 diagnostic testing on the BD Veritor Plus and BD Max Systems as against $98m last year.
BD noted that the Veritor Plus System alone generated revenues of $212m.
Furthermore, revenues in BD Interventional segment for Q3 was $1.1bn, a rise of 38.4% on a reported basis and 34.6% on a currency-neutral basis, compared to $782m in the third fiscal quarter of 2020.
Revenues in the US were $2.6bn in Q3 FY2021 against $2.12bn in the same quarter last year, signifying a growth of 21.5%.
Outside of the US, revenues rose to $2.32bn, representing a 33.5% surge on a reported basis and 22.6% on a currency-neutral basis.
BD chairman, CEO and president Tom Polen said: “Our strong third-quarter results reflect continued momentum across our base business.
“Solid execution by our teams has strengthened our foundation while increased investment in R&D and tuck-in M&A are enhancing our innovation pipeline.”
The company has updated its outlook for FY2021 and expects the revenues to increase by nearly 16.5% to 17.0% on a reported basis from the earlier guidance of 12% to 14%.
In addition, the company updated the adjusted diluted EPS for the year to $12.85 to $12.95 from $12.75 to $12.85.
BD 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.