Loading...
Loading...
- Becton Dickinson and Co BDX reported Q2 revenues of $4.91 billion, an increase of 15.4% Y/Y, slightly better than the consensus of $4.89 billion.
- The growth was driven by the contribution of its COVID-19 diagnostic revenues, which totaled $480 million, and strong core business growth. On a currency-neutral basis, revenues increased by 12.2% Y/Y.
- Medical segment sales increased 7.4% Y/Y at $2.3 billion, reflecting growth in the Medication Delivery Solutions and Pharmaceutical Systems units.
- Life Sciences segment sales jumped 42.5% Y/Y at $1.6 billion, primarily driven by the Integrated Diagnostic Solutions unit's sales related to COVID-19 diagnostic testing.
- Interventional segment revenues saw a slight increase of 2.1% Y/Y to $1 billion, reflecting an unfavorable impact by resurgences of COVID-19 infections globally.
- Adjusted EPS stood at $3.19, compared with $2.55 a year ago and topping an estimate of $3.04.
- Cash and cash equivalents were $3.7 billion at the end of Q2.
- Operating income increased 17%Y/Y at $434 million, while margin remained stagnant at 8.7%.
- Guidance: For FY21, Becton expects no significant change in utilization or procedure volumes associated with COVID-19 resurgences.
- It expects revenues to grow 12% to 14% on an as-reported basis and 10% to 12% on a currency-neutral basis. FY21 adjusted diluted EPS outlook is unchanged at $12.75 to $12.85.
- BDX announced that its board of directors has unanimously authorized to proceed with a plan to spin off its Diabetes Care business as an independent, publicly-traded company.
- Price Action: BDX shares are up 4% at $259.75 in the premarket session on the last check Thursday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in