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Becton Dickinson's Fiscal 1Q18 Results Beat Analyst Estimates

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Becton Dickinson's Fiscal 1Q18 Results Beat Analyst Estimates PART 1 OF 8

Becton Dickinson’s Fiscal 1Q18 Sales Growth of 5.7% Beat Estimates

BDX reported fiscal 1Q18 results

On February 6, 2018, Becton, Dickinson and Company (BDX) (or BD) announced its fiscal 1Q18 earnings results. The company registered sales of ~$3.08 billion, representing YoY (year-over-year) growth of ~5.4%. This growth includes the 1.1% impact of its US Dispensing business changes. The sales results exceeded Wall Street analysts’ estimates of ~$3.05 billion, as well as the company’s guidance.

BD reported its fiscal 1Q18 results on a standalone basis and didn’t include the performance of the recently acquired Bard. The acquisition of Bard was completed on December 29, 2018, after receiving final regulatory approval. For more information on this acquisition, please read BD Receives Final Regulatory Approval for Bard Acquisition. Starting in fiscal 2Q18, BD plans to report the combined performance figures for Bard and BD.

Becton Dickinson&#8217;s Fiscal 1Q18 Sales Growth of 5.7% Beat Estimates

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Factors that impacted BD’s fiscal 1Q18 sales growth

On a currency-neutral basis, BD’s YoY sales growth in fiscal 1Q18 came in at ~3.7%. This growth included the negative impact of the US Dispensing business changes and pricing of ~1.1% and ~0.2%, respectively. The company faced a tough prior year comparison. BD registered strong underlying sales growth of ~6.1% in fiscal 1Q17.

BD Medical and BD LifeSciences reported YoY sales growth of ~3.6% and 9.1%, respectively, on an underlying basis. Currency headwinds had an impact of ~1.7% and ~1.8%, respectively, on these segments’ sales. BD Medical sales included a 1.7% negative impact of its US Dispensing business model changes.

In fiscal 1Q18, BD reported ~$1.7 billion of sales in the United States, and its international sales came in at ~$1.4 billion.

Peers Abbott Laboratories (ABT), Boston Scientific (BSX), and Baxter International (BAX) reported sales growth of approximately 42.3%, 9.9%, and 4.9%, respectively, in their recently reported quarters.

In the next article, let’s look at BD’s earnings in fiscal 1Q18.

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