BDX Earnings Cheat Sheet: Snaps A Revenue Cold Streak This Quarter

S&P 500 (NYSE:SPY) component Becton, Dickinson and Company (NYSE:BDX) reported net income above Wall Street’s expectations for the second quarter. Becton, Dickinson & Co offers laboratory equipment, medical supplies, devices and diagnostic products used by healthcare institutions, life science researchers, clinical laboratories and individual consumers.

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Becton, Dickinson and Company Earnings Cheat Sheet for the Second Quarter

Results: Net income for the medical instruments and supplies company rose to $312 million ($1.38/share) vs. $297.6 million ($1.18/share) in the same quarter a year earlier. A rise of 4.8% from the year earlier quarter.

Revenue: Rose 4.2% to $1.92 billion YoY.

Actual vs. Wall St. Expectations: BDX beat the mean analyst estimate of $1.30/share. Estimates ranged from $1.27 per share to $1.35 per share.

Quoting Management: “We are pleased with our solid results this quarter, which were in line with our expectations,” said Edward J. Ludwig, Chairman and Chief Executive Officer. “We continued the increased pace of our R&D spending and made strategic investments, such as our acquisition of Accuri Cytometers, demonstrating our commitment to driving revenue growth through innovation.”

Key Stats: A year-over-year revenue increase last quarter snaps a streak of two consecutive quarters of revenue declines. Revenue fell 3.9% in the first quarter and fell 8.7% in the fourth quarter of the last fiscal year.

Net income has increased 6.7% year over year on average across the last five quarters. The biggest gain came in the fourth quarter of the last fiscal year, when income climbed 25.1% from the year earlier quarter.

Gross margins grew 0.2 percentage point to 52.1%. The growth seemed to be driven by increased revenue, as the figure rose 4.2% from the year earlier quarter while costs rose 3.8%.

Competitors to Watch: Covidien plc (NYSE:COV), Thermo Fisher Scientific Inc. (NYSE:TMO), C.R. Bard, Inc. (NYSE:BCR), Teleflex Incorporated (NYSE:TFX), Retractable Tech., Inc. (AMEX:RVP), Hologic, Inc. (NASDAQ:HOLX), Bio-Rad Laboratories, Inc. (NYSE:BIO), Medical Action Industries (NASDAQ:MDCI), Quidel Corporation (NASDAQ:QDEL), and Gen-Probe Incorporated (NASDAQ:GPRO).

Today’s Performance: Shares of BDX are up .14% in after hours trading.


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