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- Becton Dickinson and Co BDX reported Q4 FY22 revenues of $4.76 billion, down 1.8% Y/Y (up 2.3% on a currency-neutral basis), slightly better than the consensus of $4.72 billion.
- Revenue was driven by base revenue growth of 4.2% as reported, 8.6% currency-neutral.
- Medical segment sales increased 5.8% Y/Y to $2.38 billion.
- Life Sciences segment sales declined 15.9% Y/Y to $1.29 billion, reflecting the decline in COVID-only testing revenues.
- Interventional segment revenues grew 2.4% Y/Y to $1.09 billion.
- Operating income increased from $380 million to $490 million, with the margin improving from 7.8% to 10.3%.
- Adjusted EPS of $2.75, up from $2.15 a year ago, topping the consensus of $2.74.
- Related Becton Dickinson Recalls Some Sterilization Containers Over Breached Quality.
- Guidance: BD expects FY23 sales of $18.6-$18.8 billion versus the consensus of $19.37 billion.
- Revenue guidance assumes base business currency-neutral revenue growth of 5.25%-6.25% and approximately $125-$175 million in COVID-19-only diagnostic testing revenues.
- The foreign exchange would represent a reduction of approximately 450 basis points to total company revenue growth.
- The company expects adjusted EPS of $11.85-$12.10 versus the consensus of $12.19.
- Price Action: BDX shares closed lower by 0.55% at $218.29 on Wednesday.
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