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Q2 revenue was $5.04 billion and increased 4.65% as reported.
May 2, 2024
By: Sam Brusco
Associate Editor
BD (Becton, Dickinson and Company) has released the Q2 results for its fiscal year 2024. Q2 revenue was $5.04 billion and increased 4.65% as reported. GAAP and adjusted diluted earnings per share (EPS) of $1.85 and $3.17 rose 20.9% and 10.8%, respectively. As a result, the company raised its full-year adjusted EPS guidance from 5-7% to 6.1-7.7%, reflecting an increase of 11 cents at the midpoint. BD affirmed its fiscal 2024 organic revenue growth guidance range of 5.5-6.25%. Medication Delivery Solutions (up 7.6%) showed growth across the portfolio, partially offset by market dynamics in China. Medication Management Solutions (up 10.7%) had double-digit growth in Infusion driven by progress bringing the Alaris infusion system up to the cleared version of the device. Pharmaceutical Systems (down 9%), despite strong demand for biologic pre-illable solutions, was tempered by transitory market dynamics. Integrated Diagnostic Solutions (up 3.5%) had high single-digit growth in Microbiology platforms. Biosciences (down 10.4%) experienced a decline in Research and Clinical Solutions instruments sales, offset by high single-digit growth in Clinical Reagents. The Surgery segment (down 2.6%) had double-digit growth in the Phasix hernia resorbable scaffold and ChloraPrep infection prevention products. The unit was also impacted by divestiture of the company’s Surgical Instrumentation platform. Peripheral Intervention (up 3.3%) experienced double-digit growth in the Peripheral Vascular Disease portfolio. Urology & Critical Care (up 39%) had strong double-digit growth in the PureWick franchise thanks to adoption in both acute care and home settings. “Second quarter performance reflects our strategy in action and the strength of our diverse portfolio,” said Tom Polen, chairman, CEO, and president of BD. “Our focus on BD Excellence and execution enabled strong operating margin and cash flow within the quarter. We enter the back half of fiscal 2024 with continued momentum giving us the confidence to again raise our fiscal 2024 earnings guidance as we deliver on our BD 2025 commitments.”
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