Becton, Dickinson(BDX) - 2026 Q1 - Quarterly Results

Revenue Performance - Revenue for Q1 Fiscal 2026 was $5.3 billion, an increase of 1.6% as reported and 0.4% on a foreign currency-neutral basis[4] - Medical Essentials segment revenue was $1.6 billion, a 0.6% increase, while Connected Care segment revenue grew by 5.5% to $1.1 billion[9] - International revenue was $2.1 billion, showing a slight increase of 0.2% but a decrease of 2.8% on a foreign currency-neutral basis[8] - Revenues for Q4 2025 were $5,252 million, a 1.6% increase from $5,168 million in Q4 2024[23] - Total revenues for the three months ended December 31, 2025, were $5,252 million, representing a 1.6% increase compared to $5,168 million in the same period of 2024[32] - New BD revenues, excluding the Life Sciences segment, were $4,486 million for the three months ended December 31, 2025, reflecting a 3.5% increase from $4,333 million in 2024[35] Earnings and Profitability - GAAP diluted EPS was $1.34, representing a 28.8% increase compared to the previous year, while adjusted diluted EPS was $2.91, a decrease of 15.2%[7] - Operating income rose to $552 million, reflecting a 21.8% increase compared to $453 million in the previous year[23] - Net income increased by 26.1% to $382 million from $303 million year-over-year[23] - Basic earnings per share (EPS) improved by 27.6% to $1.34, up from $1.05 in Q4 2024[23] - Adjusted diluted EPS guidance for fiscal 2026 is projected to be between $12.35 and $12.65[13] - Adjusted diluted EPS for FY 2026 is projected to be between $12.35 and $12.65, reflecting a reported percentage change of +4.7% to +7.2%[41] Strategic Initiatives - The combination of BD's Biosciences and Diagnostic Solutions business with Waters Corporation is expected to close today, marking a significant strategic milestone[4] - BD announced a $110 million investment to support the U.S. pharmaceutical supply chain for biologic drugs, establishing production of prefillable syringes[5] - The company plans to reorganize its segments into five distinct units effective October 1, 2025, to better align with its product and service offerings[32] Segment Performance - The BioPharma Systems segment reported a 45.0% revenue increase to $150 million compared to $104 million in Q4 2024[26] - The Life Sciences segment reported revenues of $766 million, down 8.3% from $836 million in the prior year[35] - The BioPharma Systems segment generated $429 million in revenue, a 2.7% increase from $418 million in 2024[32] - The Connected Care segment's total revenue was $1,131 million, up 5.5% from $1,073 million in the previous year[32] - The Interventional segment reported total revenues of $1,330 million, a 5.8% increase from $1,257 million in 2024[32] Regulatory and Market Environment - The company is facing potential impacts from regulatory changes and market pressures, including pricing and reimbursement policies[22] - The company expects low single-digit revenue growth for FY 2026, with an illustrative foreign currency impact of approximately +120 basis points[39]