Summary
Becton, Dickinson and Company (BDX) reported revenues of $18.87 billion for the fiscal year ended September 30, 2022, a slight decrease of 1.4% compared to the prior year. This decline was primarily driven by a significant drop in COVID-19 related diagnostic test sales, which decreased from $1.956 billion in FY2021 to $511 million in FY2022. Excluding the impact of COVID-19 testing, the company experienced a volume increase of 6.2%, indicating growth in its core product lines across all three segments: Medical, Life Sciences, and Interventional. The company completed the acquisition of Parata Systems for $1.548 billion in July 2022, strengthening its presence in pharmacy automation. Concurrently, BD completed the spin-off of its Diabetes Care business, Embecta Corp., on April 1, 2022. The company continues to focus on strategic objectives of growth, simplification, and empowerment, including investments in R&D and portfolio expansion. Despite inflationary pressures and supply chain challenges, BD maintained a strong financial position, with $2.471 billion in cash flows from continuing operations and returning value to shareholders through dividends and share repurchases.
Financial Highlights
56 data points| Revenue | $18.87B |
| Cost of Revenue | $10.39B |
| Gross Profit | $8.48B |
| R&D Expenses | $1.26B |
| SG&A Expenses | $4.71B |
| Operating Expenses | $16.59B |
| Operating Income | $2.28B |
| Interest Expense | $398.00M |
| Net Income | $1.78B |
| EPS (Basic) | $5.93 |
| EPS (Diluted) | $5.88 |
| Shares Outstanding (Basic) | 285.00M |
| Shares Outstanding (Diluted) | 287.36M |
Key Highlights
- 1Total revenues decreased by 1.4% to $18.87 billion in fiscal year 2022, primarily due to a substantial decline in COVID-19 related diagnostic test sales.
- 2Excluding COVID-19 testing, company volume increased by 6.2%, demonstrating underlying demand for core products across all segments.
- 3Acquisition of Parata Systems for $1.548 billion closed in July 2022, bolstering the Medical segment's Medication Management Solutions unit.
- 4Completed the spin-off of its Diabetes Care business (Embecta Corp.) on April 1, 2022.
- 5Generated $2.471 billion in cash flow from continuing operations, maintaining a strong financial position.
- 6Returned value to shareholders through $1.082 billion in dividends and $500 million in share repurchases during fiscal year 2022.
- 7Navigated inflationary pressures and supply chain disruptions, implementing cost-containment measures and strategic procurement.