Becton Dickinson and Company (BD), a leading global medical technology company, reported strong financial results for the fourth quarter and full fiscal year ended September 30, 2024:
Fourth Quarter 2024 Highlights:
- Revenue increased 6.9% year-over-year to $5.44 billion, beating analyst estimates of $5.38 billion.
- Reported diluted EPS from continuing operations grew 173.6% to $1.45, and adjusted diluted EPS increased 11.4% to $3.81, surpassing expectations of $3.77.
- BD Medical segment revenue rose 11.1% to $2.84 billion, driven by strong growth in Medication Management Solutions.
- BD Life Sciences segment revenue increased 0.7% to $1.34 billion, led by Integrated Diagnostic Solutions.
- BD Interventional segment revenue grew 4.7% to $1.26 billion, driven by performance across the segment.
Full Fiscal Year 2024 Highlights:
- Revenue grew 4.2% to $20.18 billion.
- Reported diluted EPS from continuing operations increased 16.3% to $5.93, and adjusted diluted EPS grew 7.6% to $13.14.
- Cash from operating activities rose 28.5% to $3.8 billion, and free cash flow grew 47.4% to $3.1 billion.
BD's strategic acquisitions, including the acquisition of Edwards Lifesciences' Critical Care Product Group, and focus on high-growth areas like biologics, AI, and automation have been pivotal in driving its performance.
Fiscal 2025 Guidance:
- Revenue growth of 8.9% to 9.4%, and currency-neutral adjusted revenue growth of 8.8% to 9.3%.
- Organic revenue growth of 4.0% to 4.5%, including an impact of about 125 basis points from expected declines in China and Bioscience and Pharma market dynamics.
- Adjusted diluted EPS of $14.25 to $14.60, reflecting growth of about 10% at the midpoint.
"Our growth strategy remains focused on delivering solutions for our customers that leverage significant shifts in technology, like biologics, AI and automation, that are revolutionizing patient care," said Tom Polen, chairman, CEO and president of BD.
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