Becton, Dickinson(BDX) - 2025 Q4 - Annual Results

BD Announces CFO Transition Plan and Preliminary Fiscal 2025 Results BD announced a CFO transition and strong preliminary fiscal 2025 results, including revenue growth and EPS outlook CFO Transition Announcement BD announced CFO Chris DelOrefice's departure, appointing Vitor Roque as interim CFO effective December 5, 2025 - Chris DelOrefice, Executive Vice President and CFO, will depart BD effective December 5, 2025[2] - Vitor Roque, Senior Vice President of Finance, has been named interim CFO[2] - CEO Tom Polen acknowledged DelOrefice's contributions to the BD 2025 strategy and highlighted Roque's extensive experience within the company[3] Preliminary Fiscal 2025 Financial Results BD reported strong preliminary Q4 and full year fiscal 2025 revenue, expecting adjusted diluted EPS at or above guidance midpoint Fourth Quarter Fiscal 2025 Preliminary Revenue BD reported preliminary Q4 fiscal 2025 revenue of approximately $5.9 billion, with strong reported, currency-neutral, and organic growth Fourth Quarter Fiscal 2025 Preliminary Revenue Metrics | Metric | Value | | :--- | :--- | | Preliminary Unaudited Revenue | ~$5.9 billion | | Reported Increase | ~8.3% | | Currency-Neutral Increase | ~7.0% | | Organic Increase | ~3.9% | - Strong growth was observed in the BD Interventional segment, Advanced Patient Monitoring, and Medication Delivery Solutions, despite a greater than anticipated impact from a dynamic macro environment on Pharmaceutical Systems vaccines and Biosciences academic and government research[4] Full Year Fiscal 2025 Preliminary Revenue BD's preliminary full year fiscal 2025 revenue reached approximately $21.8 billion, with robust reported, adjusted currency-neutral, and organic growth Full Year Fiscal 2025 Preliminary Revenue Metrics | Metric | Value | | :--- | :--- | | Preliminary Unaudited Revenue | ~$21.8 billion | | Reported Increase | ~8.2% | | Adjusted Currency-Neutral Increase | ~7.7% | | Organic Increase | ~2.9% | Full Year Fiscal 2025 Adjusted Diluted EPS Outlook BD expects full year fiscal 2025 adjusted diluted EPS at or above the midpoint of its guidance, excluding non-GAAP adjustments - BD expects to deliver full year fiscal 2025 adjusted diluted EPS at or above the midpoint of its previously issued guidance[6] - The adjusted diluted EPS outlook excludes potential charges or gains such as non-cash amortization of intangible assets, acquisition-related charges, separation-related costs, and certain tax matters[7] Conference Call and Presentation Materials BD will host an audio webcast on November 6, 2025, for Q4 and full year fiscal 2025 results, with materials on its investor relations website - An audio webcast for Q4 and full year fiscal 2025 results will be held on Thursday, November 6, 2025, at 8 a.m. (ET)[8] - The webcast and related materials will be accessible via BD's investor relations website at www.bd.com/investors[8](index=8&type=chunk) Non-GAAP Financial Measures and Preliminary Information Disclaimers This section clarifies BD's non-GAAP financial measures and disclaims the preliminary, unaudited nature of presented financial results Explanation of Non-GAAP Financial Measures BD uses non-GAAP financial measures (currency-neutral, adjusted, organic revenue growth) for clearer operational performance, excluding distorting items - Non-GAAP financial measures (currency-neutral, adjusted, and organic revenue growth) are used to help investors understand year-over-year performance, underlying trends, and future prospects[9] - Adjusted revenues for full year fiscal 2024 exclude accruals related to the Italian government medical device pay back legislation and another legal matter, primarily from prior years[10] - Organic Revenue growth is defined as foreign currency-neutral revenues further adjusted for the impact of acquisitions and divestitures during the first 12 months post-transaction[12] Preliminary Financial Information Disclaimer The financial information is preliminary, unaudited, and subject to change, with actual results potentially differing materially - The financial information as of September 30, 2025, is preliminary, unaudited, and subject to change[14] - Actual results may differ materially due to the completion of financial closing procedures, audit procedures, and final adjustments[14] - These preliminary estimates are not a comprehensive statement of financial results and should not be viewed as a substitute for full GAAP financial statements[14] About BD BD is a leading global medical technology company with over 70,000 employees, advancing health through innovative solutions and partnerships - BD is one of the largest global medical technology companies, with over 70,000 employees[15] - The company's mission is to advance the world of health by improving medical discovery, diagnostics, and the delivery of care[15] - BD develops innovative technology, services, and solutions to enhance clinical therapy, clinical processes, disease detection, and research capabilities[15] Forward-Looking Statements and Risk Factors This section highlights forward-looking statements, subject to business risks and uncertainties from macroeconomic conditions, international markets, and regulatory changes - The press release contains forward-looking statements based on current expectations and assumptions, involving business risks and uncertainties[16] - Factors that could cause actual results to vary materially include macroeconomic conditions, international market conditions (e.g., geopolitical developments), competitive factors, product efficacy/safety concerns, and changes to legislation or regulations impacting healthcare systems[16][17] - Other risks include supply chain disruptions, labor constraints, inflationary pressures, currency rate fluctuations, increased interest rates, cybersecurity threats, and uncertainties of litigation or investigations[16][17] Preliminary Supplemental Revenue Information Tables This section provides preliminary reconciliations of BD's reported revenue to organic and adjusted revenue for Q4 and full year fiscal 2025 Q4 Fiscal 2025 Preliminary Revenue Reconciliation This table reconciles preliminary Q4 fiscal 2025 reported revenue to organic revenue, detailing FX impact and inorganic adjustments Q4 Fiscal 2025 Preliminary Revenue Reconciliation (Millions of USD) | Metric | 2025 (A) (Millions of USD) | 2024 (B) (Millions of USD) | FX Impact (C) (Millions of USD) | % Change Reported (D) | % Change FXN (E) | | :--- | :--- | :--- | :--- | :--- | :--- | | TOTAL REVENUES | $5,890 | $5,437 | $75 | 8.3% | 7.0% | | Less: Inorganic revenue adjustment | 170 | — | 3 | NM | NM | | Organic Revenue | $5,720 | $5,437 | $72 | 5.2% | 3.9% | - The inorganic revenue adjustment accounts for incremental revenue from acquisitions and revenue decline from divestitures within the first 12 months post-transaction, including Advanced Patient Monitoring[20] Full Year Fiscal 2025 Preliminary Revenue Reconciliation This table reconciles preliminary full year fiscal 2025 reported revenue to adjusted and organic revenue, including legislative and inorganic adjustments Full Year Fiscal 2025 Preliminary Revenue Reconciliation (Millions of USD) | Metric | 2025 (A) (Millions of USD) | 2024 (B) (Millions of USD) | FX Impact (C) (Millions of USD) | % Change Reported (D) | % Change FXN (E) | | :--- | :--- | :--- | :--- | :--- | :--- | | TOTAL REVENUES | $21,840 | $20,178 | $30 | 8.2% | 8.1% | | Add: Reduction for government (1) legislative and legal matters | — | 67 | — | (100.0%) | (100.0%) | | Adjusted Total Revenues | $21,840 | $20,245 | $30 | 7.9% | 7.7% | | Less: Inorganic revenue adjustment (2) | 977 | — | 1 | NM | NM | | Organic Revenue | $20,863 | $20,245 | $29 | 3.1% | 2.9% | - The reduction for government legislative and legal matters in 2024 primarily relates to accruals for the Italian government medical device pay back legislation and another legal matter from years prior to fiscal year 2024[23] - The inorganic revenue adjustment includes incremental revenue attributable to acquisitions, such as Advanced Patient Monitoring in the Medical Segment[23]