Becton Dickinson & Co. (NYSE:BDX) beat Wall Street’s earnings forecast with its fiscal 2nd quarter results, but investors nonetheless sent BDX shares down slightly today.
BD posted profits of $287 million, or $1.45 per share, on sales of $2.07 billion for its fiscal 2nd quarter, for a 4.0% bottom-line gain on sales growth of 3.6% compared with the same period last year.
Adjusted EPS were $1.53, 3¢ ahead of expectations on Wall Street, but BDX shares still closed down 1.3% at $111.59 apiece today on The Street.
"We are pleased with our solid 2nd-quarter and year-to-date results," chairman, president & CEO Vincent Forlenza said in prepared remarks. "Revenues were driven by the medical segment and continued improvement in our biosciences segment. This consistent performance demonstrates the breadth of the growth drivers across our businesses and regions, and highlights the diversity of our portfolio."
BD affirmed prior guidance for sales growth of 4.0%-4.5% and raised its EPS outlook for fiscal 2014 to between $6.14 and $6.17. Adjusted EPS are forecast to be $6.22 to $6.25. The company also said it plans to buy back some $450 million of its own shares during the fiscal year.
