Becton Dickinson & Co. (NYSE:BDX) today beat the consensus estimate for its fiscal 1st-quarter earnings, backed by top-line growth of nearly 46%.
Franklin Lakes, N.J.-based BD posted profits of $229 million, or $1.06 per share, on sales of $2.99 billion for the 3 months ended Dec. 31, 2015. Although that’s a 45.6% sales gain compared with the same period in 2014, it’s a -3.0% bottom-line decline.
Adjusted to exclude 1-time items, however, earnings per share reached $1.96 apiece, a full 12¢ ahead of analysts on Wall Street, who were looking for sales of $3.03 billion.
“We are pleased with our solid start and outlook for fiscal year 2016,” chairman & CEO Vincent Forlenza said in prepared remarks. “Both segments contributed to growth and we expanded our operating margins as we continued to make investments to support our innovation strategy.”
BD said it still expects adjusted EPS of $8.37 to $8.44 for the full fiscal year, on constant-currency sales growth of 24.5% to 25.0%.
BDX shares were up a tick in pre-market trading, to $145.25 each.