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- Becton Dickinson and Co BDX reported Q3 FY22 revenues of $4.6 billion, up 0.7% Y/Y (3.8% on a currency-neutral basis), better than the consensus of $4.47 billion.
- Revenue was driven by base revenue growth of 6% as reported, 9.3% currency-neutral.
- COVID-only testing revenues of $76 million declined from $300 million in the prior year.
- Medical segment sales increased 4.7% Y/Y to $2.19 billion.
- Life Sciences segment sales declined 8.7% Y/Y to $1.31 billion, reflecting the decline in COVID-only testing revenues.
- Interventional segment revenues grew 5.5% Y/Y to $1.14 billion.
- Operating income increased 9% Y/Y to $537 million.
- Adjusted EPS of $2.66, up from $2.28 a year ago, topping the consensus of $2.50.
- Guidance: BD expects FY22 sales of $18.75 - $18.83 billion compared to $18.5 - $18.7 billion expected previously and the consensus of $18.63 billion.
- Becton Dickinson reaffirms approximately $500 million in COVID-19-only diagnostic testing revenues versus $450 million announced earlier.
- It anticipates FY22 adjusted EPS of $11.28 - $11.35 compared to the prior guidance of $11.15 to $11.30 and the consensus of $11.24.
- Price Action: BDX shares are up 1.85% at $249.46 during the market session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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