Summary
Becton, Dickinson and Company (BD) filed an 8-K on January 17, 2019, to provide preliminary financial results for its first fiscal quarter ended December 31, 2018. The report highlights the company's use of non-GAAP financial measures to present a clearer view of performance, particularly in light of recent acquisitions and divestitures. Investors are encouraged to review these non-GAAP metrics alongside GAAP results for a comprehensive understanding of the company's operational performance and forward-looking guidance. The primary focus of this filing is the company's strategy of providing "comparable revenue growth" and "adjusted earnings per share" (adjusted EPS). These adjusted metrics aim to eliminate the impact of significant events like the C.R. Bard acquisition and any divestitures, as well as currency fluctuations, to offer better year-over-year comparability. Management utilizes these non-GAAP measures for internal performance evaluation, budgeting, and to provide investors with additional insights into the underlying operational trends of the business.
Key Highlights
- 1BD released preliminary financial results for the fiscal first quarter ending December 31, 2018.
- 2The company is emphasizing the use of non-GAAP financial measures for reporting and investor communication.
- 3Key non-GAAP metrics include 'Comparable Revenue Growth' and 'Adjusted Earnings Per Share' (Adjusted EPS).
- 4Comparable Revenue Growth adjusts for the C.R. Bard acquisition, divestitures, and currency impacts to enhance year-over-year comparability.
- 5Adjusted EPS excludes items not considered part of ordinary operations, such as purchase accounting adjustments, acquisition-related costs, and gains from business sales.
- 6Management believes these non-GAAP measures provide better insights into underlying operational performance and aid in evaluating guidance.
- 7The press release containing these preliminary results is furnished as Exhibit 99.1 to the 8-K filing.