BD: Reports Fourth Quarter and Full Year Fiscal 2024 Financial Results

Strong Growth and Margin Execution Drives Performance in Quarter
  • Q4 revenue of $5.4 billion increased 6.9% as reported, 7.4% currency-neutral and 6.2% organic.
  • Q4 GAAP and adjusted diluted EPS from continuing operations of $1.45 and $3.81 grew 173.6% and 11.4%, respectively.
  • FY24 revenue of $20.2 billion increased 4.2% as reported and currency neutral, 4.6% adjusted currency-neutral, and 5.0% organic
  • FY24 GAAP and adjusted diluted EPS from continuing operations of $5.93 and $13.14 grew 16.3% and 7.6%, respectively
  • FY24 cash from continuing operations grew 28.5% to $3.8 billion and Free Cash Flow grew 47.4% to $3.1 billion, increasing $0.9 billion and $1.0 billion since the prior year, respectively
  • Company issues FY25 revenue guidance including GAAP growth of 8.9% to 9.4%, adjusted currency-neutral growth of 8.8% to 9.3% and organic growth of 4.0% to 4.5%
  • The company issues FY25 adjusted diluted EPS guidance of $14.25 to $14.601, which reflects growth of about 10% at the midpoint.
BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced results for its fiscal 2024 fourth quarter and full year which ended September 30, 2024.
"In FY24, our team advanced our strategy, continuing to shift our portfolio into higher-growth areas through innovations and the acquisition of Edwards Lifesciences' Critical Care product group, while leveraging our BD Excellence system to exceed our margin expansion, earnings and cash flow goals," said Tom Polen, chairman, CEO and president of BD. "Our growth strategy remains focused on delivering solutions for our customers that leverage significant shifts in technology, like biologics, AI and automation, that are revolutionizing patient care. Combined with accelerated operational performance through BD Excellence and strong capital deployment, we are poised to deliver continued value creation for our shareholders."
1.      BD does not attempt to provide reconciliations of forward-looking adjusted diluted EPS guidance to the comparable GAAP measure. See the discussion below under "Assumptions and Outlook for Full Year Fiscal 2025."
Recent Business and Corporate Sustainability Highlights
  • The company completed the acquisition of Critical Care from Edwards Lifesciences, expanding BD's portfolio of smart connected care solutions with monitoring technologies, including advanced AI-enabled clinical decision tools. The combination of leading monitoring and infusion platforms enables future innovation opportunities for closed-loop monitoring and treatment by integrating combined company data sets and interoperability capabilities.
  • BD celebrated 75 years of U.S. manufacturing excellence in Nebraska where its Columbus site produces billions of vital medical supplies each year and where, for the first nine months of 2024, it boosted domestic syringe production to help improve supply continuity to healthcare providers and their patients.
  • BD Life Sciences:
    • The Integrated Diagnostic Solutions business unit announced Health Canada's approval of the BD Onclarity™ HPV Assay for human papillomavirus (HPV) testing for use with self-collected vaginal specimens at home.
    • The Biosciences business unit announced a new robotics solution to automate and standardize single-cell research with the commercial launch of the first in a family of high-throughput, robotics-compatible reagent kits for use with the Hamilton Robotics Liquid-Handler, helping accelerate lab work leading to genomic sequencing.
  • BD Medical:
    • The Medication Delivery Solutions business unit announced:
      • The launch of the new BD® Intraosseous Vascular Access System, enabling access in seconds for rapid delivery of fluids or medication in critical emergencies.
      • New data that shows BD MaxPlus™ and BD MaxZero™ Needle-free Connectors demonstrate better clinical outcomes with lower rates of central line bloodstream infections, fewer occlusions and cost savings.
    • The Medication Management Solutions business unit announced new data that reveals the use of advanced artificial intelligence in BD HealthSight™ Diversion Management software is highly effective in detecting indicators of controlled substance diversion in the operating room.
    • The Pharmaceutical Systems business unit announced:
      • The latest capacity expansion of the BD Neopak™ Glass Prefillable Syringe platform is a significant milestone that enables unprecedented large-scale production of advanced BD glass syringes to serve the growing market for biologic therapies.
      • The commercial release of the BD Neopak™ XtraFlow™ Glass Prefillable Syringe with features that enhance the injection experience for the next generation of biologics, expanding the usability of the BD Neopak™ platform.
      • These expansions add to BD's leadership in offering a broad range of injection solutions to ensure the delivery of treatments such as GLP-1s, antibodies and other next-generation treatments for chronic disease.
  • Named a Best Place to Work for Disability Inclusion for the sixth consecutive year following its top score on the Disability Equality Index.
  • Named among the 100 Best Corporate Citizens of 2024 by 3BL, ranking second in the healthcare equipment and services industry.
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BD (Becton, Dickinson and Company)
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