What is the main purpose of this 8-K filing?

The primary purpose of this 8-K filing is to formally present the financial results for Becton, Dickinson and Company's fourth fiscal quarter ending September 30, 2017, through a furnished press release. It also details the non-GAAP financial measures the company uses for reporting and analysis.

Why is BDX emphasizing non-GAAP financial measures?

BDX emphasizes non-GAAP measures to provide investors with a clearer understanding of the company's underlying operational performance by excluding items that can distort period-to-period comparability. These include divestitures, foreign currency impacts, and various one-time costs or gains that management deems not reflective of ordinary operations.

What specific items are excluded in the 'adjusted EPS' calculation?

Adjusted EPS excludes a range of items to enhance comparability. These include purchase accounting adjustments, acquisition-related transaction, integration, and restructuring costs, financing costs, loss from debt extinguishment, lease contract modification charges, litigation reserve reversals, the dilutive impact of shares for the C.R. Bard acquisition, preferred stock dividends, and pension settlement charges.

How should investors interpret these non-GAAP results?

Investors should view these non-GAAP results as supplemental information to the company's official GAAP (Generally Accepted Accounting Principles) results. While they offer additional insights into underlying performance and trends, they should not be considered in isolation or as a replacement for GAAP figures, as excluded items can still have a material impact on net income and earnings per share.

BDX 8-K: Earnings & Results

Summary

This 8-K filing from Becton, Dickinson and Company (BDX) on November 2, 2017, primarily serves to furnish their press release detailing financial results for the fourth fiscal quarter ending September 30, 2017. The key takeaway for investors is the company's emphasis on non-GAAP financial measures, which they utilize to present a clearer picture of underlying operational performance. These adjusted measures exclude the impact of divestitures, foreign currency fluctuations, and various one-time items such as purchase accounting adjustments, acquisition-related costs, debt extinguishment, and pension charges. BDX management highlights the use of these non-GAAP metrics, including 'comparable' revenue growth and 'adjusted EPS,' to facilitate period-to-period comparisons and to better evaluate the company's performance relative to its peers and its own strategic planning. Investors should note that while these non-GAAP figures are presented as supplemental information to GAAP results, they are intended to provide deeper insight into the company's operational trends and future outlook, particularly in the context of the pending acquisition of C.R. Bard, Inc.

Key Highlights

1BDX released its Q4 fiscal year 2017 financial results via press release on November 2, 2017.
2The company is presenting non-GAAP financial measures to offer a more insightful view of underlying operational performance.
3Key non-GAAP metrics include 'comparable' revenue growth and 'adjusted EPS,' which exclude the impact of divestitures and foreign currency fluctuations.
4Adjusted EPS also excludes significant one-time items such as purchase accounting, acquisition/integration costs, debt extinguishment, and pension charges.
5These non-GAAP measures are used by management for performance evaluation, budgeting, and comparison with peers.
6The company aims to provide investors with supplemental information to better understand operational trends and future outlook, especially concerning the pending C.R. Bard acquisition.
7Investors are advised that non-GAAP measures should be considered alongside, not as a substitute for, GAAP results.

BECTON DICKINSON & CO 8-K Report, Financial Results (Nov 2, 2017)

Summary

Key Highlights

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