Becton Dickinson and Co. Earnings: Generates a Turnaround

S&P 500 (NYSE:SPY) component Becton Dickinson and Company (NYSE:BDX) reported its results for the third quarter. Becton, Dickinson & Company provides healthcare institutions, life science researchers, clinical laboratories, and individual consumers with laboratory equipment, medical supplies, devices, and diagnostic products.

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Becton Dickinson and Company Earnings Cheat Sheet

Results: Net income for Becton Dickinson and Company fell to $326.9 million ($1.59 per share) vs. $343.1 million ($1.53 per share) a year earlier. This is a decline of 4.7% from the year-earlier quarter.

Revenue: Rose 1.5% to $1.98 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Becton Dickinson and Company beat the mean analyst estimate of $1.53 per share. It beat the average revenue estimate of $1.94 billion.

Quoting Management: “We are very pleased with our third quarter results,” said Vincent A. Forlenza, Chairman of the Board, Chief Executive Officer and President. “As we anticipated, our revenue and earnings growth improved this quarter, demonstrating that our strategy implementation is on track and in line with our previously communicated expectations.”

Key Stats:

The company has now seen net income fall for four straight quarters. In the second quarter, net income fell 6.7% while the figure fell 16.8% in the first quarter and 24.4% in the fourth quarter of the last fiscal year.

The company beat estimates last quarter after being in line with expectations in the second quarter with net income of $1.38 per share.

Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the fourth quarter is $1.59 per share, up from $1.57 ninety days ago. The average estimate for the fiscal year is $5.70 per share, a rise from $5.67 ninety days ago.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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