Summary
This 8-K filing from Becton, Dickinson and Company (BDX) on August 3, 2017, primarily furnishes a press release detailing the company's financial results for its third fiscal quarter ending June 30, 2017. The core of the disclosure revolves around the company's use of non-GAAP financial measures to provide a clearer picture of its operational performance and underlying trends. Investors are encouraged to review these non-GAAP measures, which adjust for factors like divestitures, foreign currency fluctuations, and acquisition-related costs, to better understand the company's performance trajectory. While these measures offer additional insight beyond standard GAAP reporting, the company emphasizes that they should be considered supplementary and in conjunction with GAAP results, as excluded items can still materially impact financial outcomes.
Key Highlights
- 1BDX released its Q3 fiscal year 2017 financial results via an August 3, 2017 press release, furnished as part of this 8-K filing.
- 2The company utilizes and presents non-GAAP financial measures to offer a more insightful view of its performance.
- 3Key non-GAAP adjustments include comparable revenue growth rates, which exclude the impact of divestitures and foreign currency translation.
- 4Adjusted Earnings Per Share (EPS) are presented, excluding items such as purchase accounting adjustments, acquisition-related costs, debt extinguishment, and financing impacts related to the pending C.R. Bard acquisition.
- 5BDX also provides forward-looking revenue and EPS estimates for fiscal year 2017 on a comparable, foreign currency neutral basis.
- 6Management uses these non-GAAP measures for internal performance evaluation, budget planning, and to facilitate comparisons with prior periods and peer companies.
- 7The filing explicitly states that non-GAAP measures are supplemental, not a substitute for GAAP results, and may differ from measures used by other companies.