Becton Dickinson (NYSE: BDX) reported first-quarter results that exceeded expectations, but its full-year profit outlook came in well below analyst forecasts, sending shares down more than 3% intra-day on Monday.
The medical technology company posted adjusted earnings of $2.91 per share for the first quarter, surpassing analyst estimates of $2.81. Revenue increased 1.6% year over year to $5.3 billion, exceeding the consensus estimate of $5.15 billion. On a foreign-currency-neutral basis, revenue rose 0.4%, with New BD revenue—excluding the Biosciences and Diagnostic Solutions business—growing 2.5%.
Investor focus shifted to the company's fiscal 2026 adjusted earnings guidance of $12.35 to $12.65 per share, which was well below the analyst consensus of $14.94. The outlook reflected the impact of BD's combination of its Biosciences and Diagnostic Solutions business with Waters Corporation, which closed on the day of the earnings release.
Segment performance was led by Connected Care, which posted 5.5% reported growth, or 4.7% on a foreign-currency-neutral basis. The BD Interventional segment grew 5.8% reported, or 5.1% FX-neutral. The Life Sciences segment, which is being separated, declined 8.3% reported and 10.5% on an FX-neutral basis.
Becton Dickinson reaffirmed its fiscal 2026 revenue growth outlook, calling for low-single-digit growth on a foreign-currency-neutral basis, with reported revenue growth expected in the “low single-digit plus” range.
