Becton Dickinson (BDX) Tops Q3 EPS by 5c, Revenues Beat; Raises FY Guidance

Becton Dickinson (NYSE: BDX) reported Q3 EPS of $2.91, $0.05 better than the analyst estimate of $2.86. Revenue for the quarter came in at $4.28 billion versus the consensus estimate of $4.24 billion.

"Our strong revenue growth and operating performance this quarter demonstrate that we are delivering on our strategy," said Vincent A. Forlenza, Chairman and CEO. "We are on track with the integration of C. R. Bard and continue to deliver on our financial commitments while providing innovative solutions for our customers and their patients worldwide."

Fiscal 2018 Outlook for Full Year

The company is raising its full fiscal year 2018 revenue guidance and now expects growth to exceed 31.5 percent on a reported basis, compared to previous guidance of approximately 31.0 to 31.5 percent growth. On a comparable, currency-neutral basis, the company is also raising its revenue guidance and now expects growth to exceed 5.5 percent, compared to previous guidance of 5.0 to 5.5 percent growth. Comparable revenue guidance continues to include an estimated 50 basis point adverse impact from the change in the U.S. dispensing business model and the estimated sales impact from Hurricane Maria in Puerto Rico on Bard\'s business during BD\'s first fiscal quarter.

The company is narrowing its full fiscal year 2018 adjusted diluted earnings per share guidance to a range of $10.95 to $11.05, from a range of $10.90 to $11.05 previously. This represents growth of approximately 15.5 to 16.5 percent over fiscal 2017 adjusted diluted earnings per share, and reflects the company\'s increased revenue outlook as well as a small decrease in the expected benefit from foreign currency. On a currency-neutral basis, the company continues to expect full fiscal year adjusted diluted earnings per share growth of approximately 12.0 percent.

GUIDANCE:

Becton Dickinson sees FY2018 EPS of $10.95-$11.05.

For earnings history and earnings-related data on Becton Dickinson (BDX) click here.

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