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Becton, Dickinson(BDX) - 2024 Q4 - Annual Results
2024-11-07 11:37
Revenue Growth - Q4 revenue of $5.4 billion increased 6.9% as reported, 7.4% currency-neutral, and 6.2% organic[1] - FY24 revenue of $20.2 billion increased 4.2% as reported and currency-neutral, 4.6% adjusted currency-neutral, and 5.0% organic[1] - FY25 revenue guidance includes GAAP growth of 8.9% to 9.4%, adjusted currency-neutral growth of 8.8% to 9.3%, and organic growth of 4.0% to 4.5%[1] - Revenue growth rates for Q4 and full fiscal year 2024 are presented on a currency-neutral basis to eliminate foreign currency translation effects[16] - Revenues for Q3 2024 increased by 6.9% to $5.437 billion compared to $5.087 billion in the same period of 2023[22] - Total revenues increased by 4.2% to $20,178 million in 2024 compared to $19,372 million in 2023[24] - Total company revenue increased 6.9% reported and 7.4% FXN to $5,437 million in Q3 2024 compared to $5,087 million in Q3 2023[34] - Total revenues for the twelve months ended September 30, 2024, were $20,178 million, a 4.2% increase compared to $19,372 million in 2023[50] - Organic revenue growth for the twelve months ended September 30, 2024, was 4.9%, reaching $20,171 million, compared to $19,232 million in 2023[50] - FY 2025 Reported Revenue Growth is projected to be +8.9% to +9.4%, with Adjusted Revenues expected to reach $20.245 billion[57] - FY 2025 Organic Revenue Growth (FXN) is forecasted to be +4.0% to +4.5%[57] - Total FY 2025 Revenues are anticipated to be between $21.9 billion and $22.1 billion[57] Earnings Per Share (EPS) - FY24 GAAP and adjusted diluted EPS from continuing operations grew 16.3% and 7.6% respectively[1] - FY25 adjusted diluted EPS guidance of $14.25 to $14.60, reflecting growth of about 10% at the midpoint[1] - Basic earnings per share from continuing operations for Q3 2024 increased by 173.6% to $1.45 from $0.53 in Q3 2023[22] - Diluted earnings per share from continuing operations for Q3 2024 also increased by 173.6% to $1.45 from $0.53 in Q3 2023[22] - Diluted earnings per share increased by 20.0% to $5.93 in 2024 from $4.94 in 2023[24] - Adjusted diluted earnings per share from continuing operations for the twelve months ended September 30, 2024, were $3.81, a 11.4% increase compared to $3.42 in 2023[55] - Reported Diluted Earnings per Share from Continuing Operations increased to $5.93 in 2024 from $5.10 in 2023, a 16.3% increase[56] - Adjusted Diluted Earnings per Share from Continuing Operations rose to $13.14 in 2024 from $12.21 in 2023, a 7.6% increase[56] - Adjusted Diluted Earnings per Share for FY 2025 is projected to be between $14.25 and $14.60, representing an 8.5% to 11.0% increase from 2024[59] Cash Flow and Financial Position - FY24 cash from continuing operations grew 28.5% to $3.8 billion and Free Cash Flow grew 47.4% to $3.1 billion[1] - Free cash flow for the full fiscal year 2024 is calculated as net cash from continuing operations less capital expenditures, indicating the company's ability to generate cash for acquisitions and other activities[17] - Net cash provided by continuing operating activities was $3,844 million in 2024, up from $2,990 million in 2023[28] - Free cash flow for the twelve months ended September 30, 2024, increased by 47.4% to $3,119 million, up from $2,116 million in 2023[53] - Net cash provided by continuing operating activities for the twelve months ended September 30, 2024, was $3,844 million, a 28.5% increase compared to $2,990 million in 2023[53] - Total assets increased to $57,286 million in 2024 from $52,780 million in 2023[26] Segment Performance - BD Medical segment Q4 revenue grew 11.1% as reported, 11.5% currency-neutral, and 8.6% organic[6] - BD Life Sciences segment Q4 revenue grew 0.7% as reported, 1.4% currency-neutral, and 1.4% organic[6] - BD Interventional segment Q4 revenue grew 4.7% as reported, 5.4% currency-neutral, and 6.6% organic[6] - BD Medical segment revenues in the US grew by 15.3% to $1,667 million in 2024 from $1,447 million in 2023[30] - BD Life Sciences segment revenues in the US decreased by 1.2% to $598 million in 2024 from $606 million in 2023[30] - BD Interventional segment revenues in the US increased by 3.0% to $851 million in 2024 from $826 million in 2023[30] - Total US revenues grew by 8.3% to $3,117 million in 2024 from $2,879 million in 2023[30] - BD Medical segment total revenue increased by 11.1% reported and 11.5% FXN to $2,837 million in Q3 2024 compared to $2,554 million in Q3 2023[34] - BD Life Sciences segment revenue grew 0.7% reported and 1.4% FXN to $1,340 million in Q3 2024 from $1,330 million in Q3 2023[34] - BD Interventional segment revenue rose 4.7% reported and 5.4% FXN to $1,260 million in Q3 2024 versus $1,203 million in Q3 2023[34] - In the US, BD Medical segment revenue grew 8.7% to $5,964 million in FY 2024 from $5,488 million in FY 2023[36] - BD Life Sciences US revenue declined 2.8% to $2,310 million in FY 2024 versus $2,377 million in FY 2023[36] - BD Interventional US revenue increased 4.5% to $3,394 million in FY 2024 compared to $3,247 million in FY 2023[36] - Total US revenue grew 4.9% to $11,663 million in FY 2024 from $11,113 million in FY 2023[36] - International BD Medical revenue rose 2.4% reported and 2.3% FXN to $4,110 million in FY 2024 versus $4,014 million in FY 2023[39] - Total international revenue increased 3.1% reported and 3.3% FXN to $8,515 million in FY 2024 compared to $8,258 million in FY 2023[40] - BD Medical segment revenues for the three months ended September 30, 2024, were $2,837 million, an 11.1% increase compared to $2,554 million in 2023[47] - BD Interventional segment revenues for the three months ended September 30, 2024, were $1,260 million, a 4.7% increase compared to $1,203 million in 2023[47] - Urology and Critical Care revenues for the twelve months ended September 30, 2024, were $1,554 million, a 13.1% increase compared to $1,374 million in 2023[44] - Peripheral Intervention revenues for the twelve months ended September 30, 2024, were $1,933 million, a 3.7% increase compared to $1,865 million in 2023[44] Acquisitions and Strategic Initiatives - BD completed the acquisition of Critical Care from Edwards Lifesciences, expanding its portfolio with AI-enabled clinical decision tools[3] Adjusted Financial Metrics - Adjusted revenues for the full fiscal year 2024 exclude accruals related to Italian government medical device pay back legislation and another legal matter, affecting comparability with prior periods[14] - Adjusted diluted earnings per share for Q4 and full fiscal year 2024 exclude costs related to European regulatory initiatives, integration, restructuring, and other non-ordinary operations[15] - The company recognized accruals of $67 million related to Italian government medical device pay back legislation and another legal matter, which substantially relate to years prior to the current fiscal year[45][50] - Integration costs for 2024 were $23 million pre-tax, down from $67 million in 2023[56] - Restructuring costs for 2024 were $387 million pre-tax, up from $239 million in 2023[56] - European regulatory initiative-related costs for 2024 were $104 million pre-tax, down from $139 million in 2023[56] - Product, litigation, and other items for 2024 were $318 million pre-tax, down from $554 million in 2023[56] Operating and Net Income - Operating income for Q3 2024 surged by 86.4% to $650 million from $349 million in Q3 2023[22] - Net income from continuing operations for Q3 2024 rose by 173.2% to $421 million compared to $154 million in Q3 2023[22] - Operating income rose by 14.9% to $2,425 million in 2024 from $2,111 million in 2023[24] - Net income from continuing operations grew by 12.8% to $1,726 million in 2024 from $1,530 million in 2023[24] Interest Income - The company's interest income for Q3 2024 grew by 493.7% to $56 million from $9 million in Q3 2023[22]
BD Reports Fourth Quarter and Full Year Fiscal 2024 Financial Results
Prnewswire· 2024-11-07 11:30
Strong Growth and Margin Execution Drives Performance in Quarter Q4 revenue of $5.4 billion increased 6.9% as reported, 7.4% currency-neutral and 6.2% organic Q4 GAAP and adjusted diluted EPS from continuing operations of $1.45 and $3.81 grew 173.6% and 11.4%, respectively FY24 revenue of $20.2 billion increased 4.2% as reported and currency neutral, 4.6% adjusted currency-neutral, and 5.0% organic FY24 GAAP and adjusted diluted EPS from continuing operations of $5.93 and $13.14 grew 16.3% and 7.6%, respect ...
BD Board Increases Dividend for 53rd Consecutive Year
Prnewswire· 2024-11-07 11:25
FRANKLIN LAKES, N.J., Nov. 7, 2024 /PRNewswire/ -- The Board of Directors of BD (Becton, Dickinson and Company) (NYSE: BDX) has declared a quarterly dividend of $1.04 per common share, an increase of 9.5% from the previous quarter. The dividend will be payable on December 31, 2024 to holders of record on December 9, 2024. The indicated annual dividend rate for fiscal year 2025 is $4.16 per share."This is the 53rd consecutive fiscal year in which we have raised our dividend, maintaining BD's membership in th ...
Can Sustained Product Demand Drive BDX Stock Before Q4 Earnings?
ZACKS· 2024-11-04 18:30
Becton Dickinson and Company (BDX) , popularly known as BD, is scheduled to report fourth-quarter fiscal 2024 results on Nov. 7, before market open.In the last reported quarter, the company’s earnings per share (EPS) of $3.50 surpassed the Zacks Consensus Estimate by 5.7%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on three occasions and matched once, delivering an earnings surprise of 6.2%, on average.Let’s check out the factors that have shaped BDX’s performanc ...
Becton, Dickinson And HP Among 13 Companies To Announce Annual Dividend Increases In First Half Of November
Seeking Alpha· 2024-11-04 03:51
I'm an individual investor looking to grow my wealth over the long term. I've tried many different styles of investing over the last 25 years and have found that buying dividend growth stocks and reinvesting the dividends is one of the easiest ways to grow wealth over the long term. Over the years, I've owned stocks, options, ETFs, treasury notes, and mutual funds. I operate a blog, HarvestingDividends.com, that provides information on the S&P Dividend Aristocrats and other dividend growth stocks.Analyst’s ...
BDX Stock Declines Despite Launching BD IO Vascular Access System
ZACKS· 2024-11-01 18:20
Becton, Dickinson and Company (BDX) , popularly known as BD, recently launched the new BD Intraosseous (IO) Vascular Access System.The BD IO system is likely to enable access to rapid delivery of fluids or medication in critical emergency situations. The procedure involves inserting a needle into the bone marrow cavity when intravenous (IV) access is challenging or delayed.Likely Trend of BDX Stock Following the NewsFollowing the announcement, shares of the company moved nearly 1.3% south to $233.6 at yeste ...
Becton Dickinson (BDX) Earnings Expected to Grow: Should You Buy?
ZACKS· 2024-10-31 15:07
Becton Dickinson (BDX) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Nov ...
BD Launches Enhanced Intraosseous System, Enabling Vascular Access in Seconds for Critical Care Situations
Prnewswire· 2024-10-30 10:50
FRANKLIN LAKES, N.J., Oct. 30, 2024 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today launched the new BD® Intraosseous Vascular Access System, enabling access for rapid delivery of fluids or medication in critical emergency situations. The procedure involves inserting a needle into the bone marrow cavity when intravenous (IV) access is challenging or delayed. BD launches enhanced Intraosseous System, enabling vascular access in seconds for cr ...
3 Reasons Why Becton Dickinson (BDX) Is a Great Growth Stock
ZACKS· 2024-10-22 17:47
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.However, it's pretty easy to find cutting-edge growth stocks with the he ...
BDX Stock Up on Robotics Solution Launch to Boost Single-Cell Research
ZACKS· 2024-10-15 17:26
Becton, Dickinson and Company (BDX) , popularly known as BD, announced the commercial launch of the first in a family of high-throughput, robotics-compatible reagent kits, BD OMICS-One XT Library Preparation Reagent Kits, yesterday. The automated solution from the BD and Hamilton collaboration will likely enable automation to ensure greater consistency and increased efficiency of large-scale, single-cell discovery studies. The solution includes the newly-released BD OMICS-One XT WTA Assay and the Hamilton M ...