Shares in Becton Dickinson & Co. (NYSE:BDX) have fallen today despite the medical device maker beating expectations on Wall Street with its fiscal year 2018 third quarter earnings results.
The Franklin Lakes, N.J.-based company posted profits of $594 million, or 2.03¢ per share, on sales of $4.3 billion for the three months ended June 30, seeing a massive swing from the red while sales grew 41% when compared with the same period last year.
Adjusted to exclude one-time items, earnings per share were $2.91, ahead of the $2.86 consensus The Street, where analysts were looking for sales of $4.2 billion, which the company topped.
“Our strong revenue growth and operating performance this quarter demonstrate that we are delivering on our strategy. We are on track with the integration of C. R. Bard and continue to deliver on our financial commitments while providing innovative solutions for our customers and their patients worldwide,” chair & CEO Vincent Forlenza said in a press release.
Becton Dickinson raised its fiscal year 2018 revenue guidance, now expecting to see growth over 31.5% on a reported basis, up from between 31% and 31.5%. The company also expects to see adjusted diluted EPS of between $10.95 and $11.05, adjusted from previous guidance of between $10.90 and $11.05.
Shares in Becton Dickinson are down 3% so far today, at $242.45 as of 10:10 a.m. EDT.
Last month, BD said it is expanding in Arizona and Ireland, with a planned relocation in Tempe and the opening of a new facility in Limerick.
