By Dean Seal

Becton Dickinson & Co. raised its revenue outlook for fiscal 2023 by half a billion dollars and boosted its adjusted earnings forecast after its first-quarter results were better than analysts had expected.

The medical-technology company now expects annual revenue of between $19.1 billion and $19.3 billion, up from its prior forecast of $18.6 billion to $18.8 billion.

Adjusted earnings are now projected to be in the range of $12.07 to $12.32 a share, compared with its previous guidance for between $11.85 and $12.10 a share.

The revisions assume about $50 million to $100 million in Covid-19 diagnostic testing revenue, down from a previous outlook for between $125 million and $175 million.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

February 02, 2023 07:09 ET (12:09 GMT)

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