Becton, Dickinson and Company Earnings Cheat Sheet: Second Straight Quarter of Rising Net Income

S&P 500 (NYSE:SPY) component Becton, Dickinson and Company (NYSE:BDX) reported net income above Wall Street’s expectations for the third 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.

Get more Earnings Cheat Sheets with our in depth coverage of earnings season >>

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

Results: Net income for Becton, Dickinson and Company rose to $343.1 million ($1.53 per share) vs. $306.9 million ($1.29 per share) in the same quarter a year earlier. This marks a rise of 11.8% from the year earlier quarter.

Revenue: Rose 7.2% to $2.01 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: BDX beat the mean analyst estimate of $1.43 per share. Analysts were expecting revenue of $1.99 billion.

Quoting Management: “We are pleased with our solid results this quarter, with all three segments contributing to growth,” said Edward J. Ludwig, Chairman and Chief Executive Officer. “Gross margin expansion reflecting favorable product mix has offset some of the headwinds we have been facing as a result of a challenging macroeconomic environment and increased raw material costs.”

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by 8 cents in the second quarter and by 6 cents in the first quarter.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 4.2% to $1.92 billion from the year earlier quarter.

The company has now seen net income rise in two straight quarters. In the second quarter, net income rose 4.8% from the year earlier.

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).

Get more Earnings Cheat Sheets with our in depth coverage of earnings season >>

(Source: Xignite Financials)

More from The Cheat Sheet