Daily Newsletter

04 August 2023

Daily Newsletter

04 August 2023

BD reports 13% rise in Q3 2023 net income

For nine months that ended on 30 June 2023, the company posted total revenues of $14.2bn as against $14.1bn in the prior year.

RanjithKumar Dharma August 04 2023

Becton, Dickinson and Company (BD) has reported a net income of $407m in the third quarter (Q3) of 2023, a rise of 13% compared with $360m in the year-ago period.

For the quarter that ended on 30 June 2023, the company’s revenues were $4.8bn against $4.6bn in the same quarter last year, representing an increase of 5.1%.

In the quarter, the company’s reported diluted earnings per share (EPS) stood at $1.36, while the adjusted EPS was at $2.96.

For nine months that ended on 30 June 2023, the company reported a net income of $1.37bn, a decline of 7.7% compared with $1.49bn in the prior year’s quarter.

Total revenues from continuing operations during this period were reported to be $14.2bn against $14.1bn in the prior year.

BD chairman, CEO and president Tom Polen said: “Our teams are working unwaveringly to achieve key milestones that set us up for continued growth and consistent performance.

“We are very pleased to deliver our number one priority since launching BD 2025 – achieving 510(k) clearance for the updated BD Alaris Infusion System – allowing us to bring this updated system to our customers and their patients.”

Recently, BD concluded the divestment of its Surgical Instrumentation platform to Steris for $540m.

The company anticipates that its revenues for fiscal year 2023 will be roughly $19.3bn, in comparison to the previously stated range of $19.2bn to $19.3bn.

The projected adjusted diluted EPS for the company’s fiscal year 2023, ranging from $12.10 to $12.32, remains the same.

However, this outlook accounts for a $0.02 reduction due to the divestiture of the Surgical Instrumentation platform and a $0.05 decrease resulting from recent foreign currency rates.

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