BD reports preliminary results for Q1FY2019; reaffirms fiscal 2019 guidance

BD (Becton, Dickinson and Company) has reported preliminary financial results for the first fiscal quarter ended December 31, 2018. Subject to the completion of its financial closing processes, the company expects quarterly revenues of USD 4.160 billion for the first fiscal quarter ended December 31, 2018. This represents an increase of 35.1 percent from the prior-year period, primarily due to the acquisition of CR Bard. On a comparable, currency-neutral basis that includes the revenues of CR Bard in both the current and prior year, revenues increased 5.2 percent over the prior-year period.

Preliminary diluted earnings per share for the first quarter are estimated to be approximately USD 2.05, compared with USD (0.76) in the prior-year period. This represents an increase of 369.7 percent. Preliminary adjusted diluted earnings per share are estimated to be approximately USD 2.70, compared with USD 2.48 in the prior-year period. This represents an increase in adjusted diluted earnings per share of 8.9 percent, or 14.9 percent on a currency-neutral basis.

The company reaffirms previously issued fiscal year 2019 revenue and adjusted diluted earnings per share guidance. The full fiscal year 2019 revenues are expected to increase 8.5 to 9.5 percent, primarily due to the CR Bard acquisition. Revenues are expected to increase 5.0 to 6.0 percent on a comparable, currency-neutral basis that includes the revenues of CR Bard in fiscal 2019 as well as the full 2018 fiscal year. The company continues to expect the full fiscal year 2019 adjusted diluted earnings per share to be between USD 12.05 and USD 12.15, which represents growth of approximately 10.0 percent over the prior-year.