Becton Dickinson Gains From Covid-19 Testing as 2Q Revenue Grows
May 06 2021 - 6:53AM
Dow Jones News
By Matt Grossman
Becton Dickinson & Co. on Thursday posted a larger fiscal
second-quarter profit and higher sales across its division, with
the sharpest growth coming in the form of a revenue contribution
from its Covid-19 testing business.
The Franklin Lakes, N.J.-based medical-technology company logged
diluted earnings per share of 94 cents, up from 53 cents a year
earlier. Net income applicable to common shareholders was $277
million, up from $145 million.
Adjusting for one-time items, the company's profit was $3.19 a
share. Analysts were expecting an adjusted profit of $3.04 a share,
according to FactSet.
Becton Dickinson's revenue was $4.91 billion, a rise from $4.25
billion, the company said. Analysts had been forecasting revenue of
$4.89 billion.
Medical-division sales grew by 7.4% to $2.3 billion, amid strong
sales of products such as syringes and catheters. Revenue at the
life-sciences segment, which includes Covid-19 testing, grew 43% to
$1.6 billion. Covid-19 testing contributed $480 million to that
amount, the company said.
The interventional business unit posted sales growth of 2.1%,
with revenue of $1 billion, the company said.
Becton Dickinson reaffirmed its previously issued full-year
guidance, estimating adjusted earnings per share of $12.75 to
$12.85 and revenue growth of 12% to 14%.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
May 06, 2021 06:38 ET (10:38 GMT)
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