Summary
Becton Dickinson & Co. (BDX) reported revenues of $5.272 billion for the third quarter of fiscal year 2025, a 4.5% increase year-over-year. This growth was primarily driven by the acquisition of Advanced Patient Monitoring and solid performance in the Medical and Pharmaceutical Systems segments, though partially offset by challenges in the Life Sciences and Interventional segments. Net income for the quarter was $308 million, down from $537 million in the prior year period, resulting in diluted EPS of $1.07 compared to $1.85. The company announced its intention to separate its Biosciences and Diagnostic Solutions businesses, a move expected to be completed in fiscal year 2026, which aims to unlock shareholder value. Despite revenue growth, the decrease in net income was influenced by factors including purchase accounting adjustments, increased restructuring costs, and higher interest expenses related to recent acquisitions. BDX's balance sheet shows $8.67 billion in current assets and $7.69 billion in current liabilities as of March 31, 2025. The company generated $857 million in net cash from operating activities for the first six months of fiscal year 2025, a decrease from $1.369 billion in the prior year, attributed to changes in working capital, including higher inventory levels and lower accounts payable and accrued expenses. Significant financing activities included $876 million in debt payments and $750 million in share repurchases. The company continues to return capital to shareholders through dividends, with $600 million paid in the first six months of fiscal year 2025.
Financial Highlights
52 data points| Revenue | $5.27B |
| Cost of Revenue | $3.02B |
| Gross Profit | $2.26B |
| R&D Expenses | $302.00M |
| SG&A Expenses | $1.27B |
| Operating Expenses | $4.72B |
| Operating Income | $546.00M |
| Net Income | $308.00M |
| EPS (Basic) | $1.07 |
| EPS (Diluted) | $1.07 |
| Shares Outstanding (Basic) | 287.29M |
| Shares Outstanding (Diluted) | 287.74M |
Key Highlights
- 1Revenues increased by 4.5% to $5.272 billion in Q3 FY2025, driven by the Advanced Patient Monitoring acquisition and Medical segment growth.
- 2Net income decreased to $308 million ($1.07 EPS) from $537 million ($1.85 EPS) in Q3 FY2024, impacted by acquisition-related costs and restructuring expenses.
- 3BDX announced its intention to separate its Biosciences and Diagnostic Solutions businesses, targeting completion in fiscal year 2026.
- 4Operating cash flow for the first six months of FY2025 was $857 million, down from $1.369 billion in the prior year, reflecting changes in working capital.
- 5Total debt decreased to $19.27 billion from $20.11 billion at the beginning of the fiscal year, with significant debt payments made during the period.
- 6The company repurchased $750 million of its common stock and paid $600 million in dividends during the first six months of FY2025.
- 7The Medical segment showed strong revenue growth (12.7% for the quarter), while Life Sciences (-4.3%) and Interventional (-2.2%) segments experienced revenue declines.