- Becton Dickinson and Co (NYSE:BDX) reported Q2 FY22 revenues of $5.01 billion, up 2.1% Y/Y (3.9% on a currency-neutral basis), better than the consensus of $4.85 billion.
- Revenue was driven by base revenue growth of 8.2% as reported, 10.2% currency-neutral, partially offset by the decline in COVID-only testing revenues to $214 million from $474 million in the prior year.
- Medical segment sales increased 4.5% Y/Y to $2.42 billion.
- Life Sciences segment sales declined 6.4% Y/Y to $1.48 billion, reflecting the decline in COVID-only testing revenues.
- Interventional segment revenues grew 9.9% Y/Y to $1.11 billion, reflecting a continued recovery in elective volumes.
- Operating income increased 50.1% Y/Y to $652 million.
- Adjusted EPS of $3.18, down from $3.19 a year ago, topping the consensus of $2.99.
- Guidance: BD expects FY22 sales of $19.6 billion - $19.8 billion, compared to earlier guidance of $19.55 billion - $19.75 billion, versus the consensus of $19.63 billion.
- Becton Dickinson reaffirms approximately $450 million in COVID-19-only diagnostic testing revenues.
- It anticipates FY22 adjusted EPS of $12.85 - $13, up from prior guidance of $12.80 - $13.00 versus the consensus of $12.85.
- Price Action: BDX shares are up 1.06% at $256.22 during the market session on the last check Thursday.
