Becton, Dickinson and Co. Revenue Helped by Life-Sciences -- Earnings Review
February 06 2018 - 7:14AM
Dow Jones News
By Allison Prang
Becton, Dickinson and Co. released its first-quarter earnings
Tuesday before the market opened. Here's what you need to know.
LOSS: The company said it lost $174 million, or 76 cents a
share, down from the same period a year ago when it made a profit
of $562 million, or $2.58 a share. Restructuring and acquisition
costs were $354 million, 307% higher than the same period a year
ago. The company's income tax provision also rose by 84% to $231
million, and the company reported no other operating income.
ADJUSTED EARNINGS: On an adjusted basis, earnings were $2.48 a
share compared with $2.33 a share from the comparable period the
prior year. Analysts polled by FactSet were expecting adjusted
earnings of $2.41 a share.
REVENUE: Revenue rose 5.4% to $3.08 billion driven by a 9.1%
increase in the company's life-sciences segment, particularly
driven by revenue growth in its diagnostic systems division which
was up 14%. The only division where revenue fell was
medication-management solutions, which was down 2.3% from the same
time a year ago. Adjusting for foreign exchange, the company said
total revenue rose 3.7%.
GUIDANCE: Becton, Dickinson and Co. said adjusted earnings for
2018 are expected to be between $10.85 and $11 a share. Reported
revenue is expected to rise between 30% and 31%. It is expected to
increase between 4.5% and 5.5% on a currency-neutral basis, the
company said.
Shares fell 0.4% premarket on low volume, but have risen 26% in
the past year.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
February 06, 2018 06:59 ET (11:59 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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