BD delivers solid revenue growth for 2019 2Q

BD (Becton, Dickinson and Company) has reported quarterly revenues of USD 4.195 billion for the second fiscal quarter ended March 31, 2019. This represents a decrease of 0.6 percent from the prior-year period. On a comparable, currency-neutral basis, revenues increased 3.4 percent over the prior-year period.

As reported, diluted earnings per share for the second quarter were USD (0.07), compared with USD (0.19) in the prior-year period. This represents an increase of 63.2 percent. Adjusted diluted earnings per share were USD 2.59, compared with USD 2.65 in the prior-year period. This represents a decrease in adjusted diluted earnings per share of 2.3 percent, or an increase of 7.2 percent on a currency-neutral basis.

For the six-month period ended March 31, 2019, as reported, diluted earnings per share were USD 1.98, compared with USD (0.90) in the prior-year period. This represents an increase of 320.0 percent. Adjusted diluted earnings per share were USD 5.29, compared with USD 5.15 in the prior-year period. This represents an increase in adjusted diluted earnings per share of 2.7 percent, or 10.5 percent on a currency-neutral basis.

Current period adjusted results exclude, among other items, charges to record product liability reserves of USD 331 million and the estimated cost of a product recall of USD 65 million. In the BD Medical segment, as reported, worldwide revenues for the quarter of USD 2.180 billion increased 0.4 percent over the prior-year period, or 3.8 percent on a comparable, currency-neutral basis. The segment’s results were driven by performance in the medication management solutions, diabetes care and pharmaceutical systems units. Performance in the medication delivery solutions unit reflects a tough comparison to the prior year, as well as distributor inventory adjustments during the quarter in the United States.

For the six-month period ended March 31, 2019, BD Medical revenues were USD 4.316 billion as reported, which represents an increase of 7.2 percent over the prior-year period. On a comparable, currency-neutral basis, BD Medical revenues increased 4.5 percent.

In the BD Life Sciences segment, as reported, worldwide revenues for the quarter of USD 1.052 billion decreased 4.2 percent from the prior-year period. On a comparable, currency-neutral basis, revenues increased 2.7 percent. Revenue growth was driven by performance in the biosciences and preanalytical systems units. Growth in the diagnostic systems unit reflects a tough comparison to the strong flu season in the prior-year period.

For the six-month period ended March 31, 2019, BD Life Sciences revenues were USD 2.108 billion as reported, which represents a decrease of 1.6 percent from the prior-year period. On a comparable, currency-neutral basis, the company’s revenues of USD 2.099 billion increased 3.7 percent.