Becton Dickinson posts Street-topping FY2019 Q1 earnings

Becton Dickinson (NYSE:BDX) today posted fiscal year 2019 first quarter earnings that topped expectations on Wall Street, while share prices dipped slightly.

The Franklin Lakes, N.J.-based company posted profits of $562 million, or $2.05 per share, on sales of $4.16 billion for the three months ended December 31, seeing a swing back into black ink on the bottom line while sales grew an impressive 35.1% compared with the same period during the previous year.

Adjusted to exclude one-time items, earnings per share were $2.70, just ahead of the $2.62 consensus on Wall Street where analysts expected too see sales of $4.11 billion, which the company also topped.

“We are very pleased with our strong start to fiscal year 2019. As noted in our pre-announcement, results were better than expected across all three segments. It is evident that the combination of BD and C. R. Bard is delivering value to customers, patients and shareholders around the world,” chair & CEO Vincent Forlenza said in a press release.

Becton Dickinson reaffirmed its guidance for its remaining fiscal year, expecting to see sales grow between 8.5% and 9.5% with adjusted EPS of between $12.05 and $12.15.

Shares in BD have dropped approximately 0.7% in early morning trading today, at $245.36 as of 9:39 a.m. EST.

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