Becton Dickinson (NYSE:BDX) today reported fourth-quarter results that beat Wall Street analysts’ expectations.
The Franklin Lakes, N.J.–based medtech company reported profits of $150 million, or $0.41 per share, on sales of $4.58 billion for the three months ended Sept. 20, 2019. BD lost -$135 million off $4.40 billion in revenue during the same quarter a year before.
Adjusted to exclude one-time items, earnings per share were $3.31, a penny ahead of The Street, where analysts were looking EPS of $3.30 on sales of $4.56 billion.
“Our performance this year demonstrates our ability to overcome multiple headwinds and deliver on our financial and operational goals. We enter fiscal 2020 with continued optimism,” CEO Vincent A. Forlenza said in a news release.
Forlenza is slated to leave the corner office early next year, remaining as chairman while longtime insider and COO Thomas Polen takes over as CEO. “I’m confident that under Tom Polen’s leadership the company will further accelerate its impact as BD enters its next phase of value creation,” Forlenza said.
For the full fiscal year, BD earned $1.22 billion, or $3.89 per share, off $17.29 billion in revenue, up from earnings of $311 million, or $0.60 per share, off $15.98 billion in revenue the previous year.
The company expects diluted earnings per share between $12.50 and $12.65 for the new fiscal year 2020, with revenue increasing 4.0% to 4.5% (5.0% to 5.5% on a currency-neutral basis).
Investors reacted by sending BDX shares down more than 4% to $250.60 apiece today in morning trading.