Becton Dickinson Q1 Revenue Rises 1.6% to $5.3 B; GAAP EPS $1.34
Becton Dickinson reported fiscal Q1 revenue of $5.3 billion, up 1.6% as reported (0.4% FXN), with New BD revenue rising 2.5% FXN. GAAP diluted EPS climbed to $1.34 (+28.8%), adjusted EPS was $2.91 (–15.2%), and the company affirmed FY26 revenue growth guidance as it completes its Biosciences and Diagnostic Solutions combination with Waters.
1. Financial Performance
For the quarter ended December 31, BD generated $5.252 billion in revenue, a 1.6% increase year-over-year (0.4% FXN), with U.S. sales up 2.6% to $3.159 billion and international sales flat at $2.093 billion. GAAP diluted earnings per share rose 28.8% to $1.34, while adjusted diluted EPS declined 15.2% to $2.91 compared with the prior year.
2. Segment Results
Medical Essentials revenues edged up 0.6% to $1.595 billion, Connected Care delivered 5.5% growth to $1.131 billion, BioPharma Systems grew 2.7% to $429 million and Interventional rose 5.8% to $1.330 billion. BD Life Sciences contracted 8.3% to $766 million, reflecting product reorganization and market headwinds in diagnostic tools.
3. Strategic Combination
BD expects to close the merger of its Biosciences and Diagnostic Solutions business with Waters Corporation, completing a key strategic milestone. This transaction positions the company to fully pivot to the New BD operating model, focusing on enhanced commercial capabilities, innovation and productivity improvements.
4. Outlook and Guidance
The company affirmed its fiscal 2026 revenue growth outlook and provided adjusted diluted EPS guidance for New BD, underpinned by accelerated commercial initiatives, expanded prefillable syringe production investments and upcoming product launches like the EnCor EnCompass™ biopsy system.