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BECTON DICKINSON & CO 8-K Report, Financial Results (Apr 2, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed April 2, 2026
Period End
April 2, 2026
Security
BDX
In the record · 2016–202610-K1010-Q338-K175

BDX filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 175 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Oct ’18Oct ’18
  2. Material agreement8-K · Feb ’21Feb ’21
  3. Material agreement8-K · Mar ’23Mar ’23
  4. Leadership change8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed April 2, 2026. Cited figures are marked; the original filing is the authoritative source.

Becton, Dickinson and Company (BD) filed this Form 8-K under Item 2.02 to furnish Exhibit 99.1, which contains unaudited recast historical financial information.

The recast presents BD's former Biosciences and Diagnostic Solutions business as discontinued operations, following the February 9, 2026 completion of its spin-off and combination with Waters Corporation. The filing is a historical baseline rather than new guidance or a new earnings release, so it does not update forward-looking outlook. The information is furnished, not filed, so it is not subject to Section 18 liabilities.

On a continuing-operations basis, BD reported revenue of $18.5 billiona for the twelve months ended September 30, 2025, up about 10% from $16.8 billion in fiscal 2024. GAAP operating income rose to $1.94 billion from $1.71 billion, while adjusted operating income was $4.67 billion, compared with $4.09 billion a year earlier. The gap between GAAP and adjusted results is large, driven mainly by purchase accounting amortization of roughly $1.87 billion, restructuring and integration costs, and product, litigation, and other items.

Investors should weigh the adjusted figures carefully given how much is excluded. Quarterly results for the December 2025 quarter show GAAP revenue of $4.49 billionb and adjusted diluted EPS of $2.50, compared with $2.78 in the prior-year quarter, a decline the filing does not explain. The filing also shows that GAAP diluted EPS from continuing operations for fiscal 2025 was $3.81, versus $3.62 in fiscal 2024, and that adjusted diluted EPS was $11.90, up from $10.56.

Net interest expense remains significant at roughly $577 million to $613 millionc annually, which weighs on earnings. Because the figures are recast and unaudited, they should be read alongside BD's audited statements and the subsequent periodic filings.

02—Key points

Key Highlights

  1. Recast Exhibit 99.1 presents the former Biosciences and Diagnostic Solutions business as discontinued operations, following the February 9, 2026 spin-off and combination with Waters Corporation.
  2. FY2025 (twelve months ended September 30, 2025) continuing-operations revenue was $18.54 billion, up about 10% from $16.82 billion in FY2024.
  3. FY2025 GAAP operating income was $1.94 billion, up from $1.71 billion, while adjusted operating income was $4.67 billion, up from $4.09 billion.
  4. FY2025 GAAP diluted EPS from continuing operations was $3.81 versus $3.62 in FY2024; adjusted diluted EPS was $11.90 versus $10.56.
  5. Purchase accounting amortization (about $1.87 billion in FY2025) is the largest non-GAAP adjustment, making the GAAP-to-adjusted gap substantial.
  6. Quarter ended December 31, 2025: GAAP revenue of $4.49 billion and adjusted diluted EPS of $2.50, versus $2.78 in the prior-year quarter.
  7. The information is furnished under Item 2.02 and is not deemed filed, so it carries no Section 18 liability; it contains no new guidance.

03—Questions

Frequently Asked Questions

  1. What is the purpose of this 8-K filing?

    BD furnished recast unaudited historical financials under Item 2.02 to give investors a baseline for continuing operations after the Biosciences and Diagnostic Solutions business was spun off and combined with Waters Corporation. The filing does not include new earnings results or forward guidance.

  2. How did BD's continuing-operations revenue trend in fiscal 2025?

    Revenue for the twelve months ended September 30, 2025 was $18.54 billion, compared with $16.82 billion in fiscal 2024, an increase of roughly 10%. Quarterly revenue was $4.48 billion, $4.73 billion, and $5.01 billion for the March, June, and September 2025 quarters, respectively.

  3. Why is there such a large difference between GAAP and adjusted earnings?

    The largest adjustment is purchase accounting amortization, about $1.87 billion in FY2025. Other adjustments include restructuring and integration costs, separation-related items, and product, litigation, and other items. Investors should review the GAAP figures alongside the adjusted ones, since the non-GAAP measures exclude costs that may recur.

  4. Does this filing change BD's outlook or guidance?

    No. The filing provides only recast historical financial information and contains no updated forward-looking guidance. Investors should consult BD's earnings releases and subsequent periodic filings for current outlook.

  5. Are these financial figures audited?

    No. Exhibit 99.1 is explicitly labeled unaudited. Investors should rely on BD's audited financial statements in its Form 10-K and other periodic reports for verified figures.

04—Continue

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