Becton Dickinson Slashes Profit Outlook Post-Spinoff

Becton Dickinson and Co. (NYSE:BDX) on Monday reported first-quarter 2026 adjusted earnings of $2.91 per share, beating the consensus of $2.81.

The company reported sales of $5.25 billion, slightly above the consensus of $5.15 billion.

Revenues increased 1.6% as reported, and 0.4% adjusted FXN.

Segment Earnings Overview

Medical essentials segment sales were up 0.6% (-0.6% FXN) to $1.595 billion.

• Medication Delivery Solutions’ performance reflects expected order timing dynamics and VoBP in China, partially offset by continued share gains in U.S. Vascular Access Management.
• Specimen Management sales of $468 million reflect expected order timing dynamics and VoBP in China, partially offset by solid growth in the BD Vacutainer portfolio in the U.S.

Connected Care segment generated sales of $1.13 billion, up 5.5% (+4.7% FXN).

• In Medication Management Solutions, solid pharmacy automation growth was driven by BD Rowa and stronger Infusion performance driven by order timing and higher infusion-set utilization.
• Advanced Patient Monitoring witnessed strong volume growth across the portfolio, led by Smart Recovery, HemoSphere Alta Monitor, and continued adoption of Acumen IQ Sensor.

BioPharma Systems’ sales of $429 million were up 2.7% (+1% FXN), driven by double-digit growth in Biologics, partially offset by lower market demand for vaccine products.

Interventional revenues jumped 5.8% (+5.1% FXN) to $1.33 billion.

• Peripheral Intervention sales of $485 million showed strength in peripheral vascular disease, along with strength in Oncology, partially offset by VoBP in China.
• Urology and Critical Care sales of $427 million witnessed a double-digit growth in the PureWick franchise with continued adoption of the Male and Female portfolios.
• Surgery sales of $418 million reflect double-digit growth in Advanced Tissue Regeneration and high single-digit growth in Infection Prevention.

Life Sciences sales fell 8.3% (-10.5% FXN) to $766 million.

• Diagnostic Solutions’ sales of $439 million. Performance was impacted by U.S. Point of Care headwinds, a difficult prior-year comparison, and market dynamics in China.
• Biosciences reported sales of $327 million. The performance was impacted by market dynamics in China, lower life sciences research funding, and a difficult comparison with prior-year licensing revenue.

Guidance

The company is providing guidance for fiscal year 2026 for New BD, which reflects the separation of its Biosciences and Diagnostic Solutions business and combination with Waters Corporation (NYSE:WAT), which is expected to close today.

Becton Dickinson lowers fiscal 2026 adjusted earnings guidance from $14.75-$15.05 per share to $12.35-$12.65 per share compared to the consensus of $14.72.

Management Commentary

“Today, we expect to complete the combination of BD’s Biosciences and Diagnostic Solutions business with Waters Corporation. With this significant milestone in our strategy to drive shareholder value, we fully pivot to New BD and the next chapter of the company’s growth—intensifying our focus on elevating commercial capabilities, advancing industry‑leading innovation, and applying BD Excellence to drive productivity and gross margin expansion,” said Tom Polen, chairman, CEO, and president.

“Our Q1 results have positioned us well to achieve our fiscal 2026 guidance while creating a foundation for long‑term revenue and earnings growth,” Polen said in a press release on Monday.

BDX Benzinga Edge Scorecard Analysis

Below is the Benzinga Edge scorecard for Becton, Dickinson and, highlighting its strengths and weaknesses compared to the broader market:

• Value: Weak (Score: 23.73) — Trading at a steep premium relative to peers.
• Quality: Neutral (Score: 36.16) — Balance sheet remains healthy.

The Verdict: Becton, Dickinson and Co.’s Benzinga Edge signal reveals a mixed outlook. While the Quality score indicates a healthy balance sheet, the low Value score suggests that the stock may be trading at a premium, which could be a concern for value-focused investors.

BDX Price Action: Becton Dickinson shares were down 3.77% at $202.10 during premarket trading on Monday, according to Benzinga Pro data.

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