Becton, Dickinson Shares Dip Despite Q2 Earnings Beat

Becton, Dickinson, and Company (NYSE: BDX) posted profits of $460 million, equivalent to $2.86 per share, beating the consensus of $2.74.

BD reported sales of $4.82 billion, up 1.5% Y/Y, beating the consensus of $4.68 billion.

The company’s medical segment reported 9.6% growth, and its interventional business grew by 6.8%. Life sciences revenue offset that growth, dropping by 14.2%. That segment’s performance reflects a decline in COVID-only diagnostic testing revenues.

Also Read: Becton Dickinson’ Capable Of Sustaining A Breakout’, Analyst Upgrades Stock With 20% Upside Potential.

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“Our strong performance this quarter reflects our strategy in action and the positive impact of these investments on our business as we deliver for our customers and patients worldwide,” said Tom Polen Chairman, CEO & President.

“Particularly, our innovation pipeline and the impact of our M&A strategy played a key role in our results, and we remain well-positioned to continue driving strong growth and performance in the future,” Polen added.

Guidance: BD expects 2023 revenues of $19.2 billion-$19.3 billion, a slight increase from prior guidance of $19.1 billion-$19.3 billion vs. the consensus of $19.22 billion.

The company expects adjusted EPS of $12.10-$12.32 vs. prior guidance of $12.07-$12.32 and consensus of $12.21.

Price Action: BDX shares are down 3.26% at $255.03 on the last check Thursday.

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This article Becton, Dickinson Shares Dip Despite Q2 Earnings Beat – Here’s The Deatils originally appeared on Benzinga.com

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