Becton, Dickinson and Company (BDX) Earnings
Becton, Dickinson and Company is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $3.12. BDX has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +3.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $2.78 | $2.90 | +4.3% | $4.7B | +0.9% |
| Nov 6, 2025 | $3.92 | $3.96 | +1.0% | $5.9B | -0.3% |
| Aug 7, 2025 | $3.40 | $3.68 | +8.2% | $5.5B | +0.4% |
| May 1, 2025 | $3.28 | $3.35 | +2.1% | $5.3B | -1.5% |
| Feb 5, 2025 | $3.00 | $3.43 | +14.3% | $5.2B | +1.3% |
| Nov 7, 2024 | $3.77 | $3.81 | +1.1% | $5.4B | +1.1% |
| Aug 1, 2024 | $3.31 | $3.50 | +5.7% | $5.0B | -1.7% |
| May 2, 2024 | $2.97 | $3.17 | +6.7% | $5.0B | +0.1% |
| Feb 1, 2024 | $2.40 | $2.68 | +11.7% | $4.7B | -0.6% |
| Nov 9, 2023 | $3.42 | $3.42 | +0.0% | $5.1B | +1.4% |
| Aug 3, 2023 | $2.89 | $2.96 | +2.4% | $4.9B | -3.1% |
| May 4, 2023 | $2.75 | $2.86 | +4.0% | $4.8B | +2.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Tom Polen highlighted the announcement of Vitor Roque as CFO and his strong performance. He then discussed Q2 results, noting solid revenue, adjusted margins, and adjusted EPS. BD is executing on three priorities: compete (raising commercial execution, showing share gains in various platforms), innovate (strengthening pipeline, increasing launch pace in high-growth areas), and deliver (focus on quality, operational excellence, margin expansion, and cash flow generation). BD Excellence is embedded, with actions like reducing manufacturing footprint, driving productivity, and making progress on cost-out program. An update on the FDA warning letter related to El Paso facility was provided. Vitor Roque discussed financial performance, P&L, cash flow, and capital allocation, reaffirming revenue guidance and increasing adjusted EPS guidance.
Guidance
Reaffirming full year revenue guidance of low single digits, expecting revenue growth in the second half to be roughly similar to the first half. Currency is estimated to be a tailwind of revenue of about 120 basis points. Expect adjusted operating margins of approximately 25%, inclusive of the impact of tariffs. Adjusted effective tax rate is expected to remain between 16% and 17%. Increasing adjusted EPS guidance to $12.52 to $12.72.
Segment performance
Revenue was $4.7 billion, up 2.6%. Medical Essentials grew 1.7%. Connected Care grew 3.3%, led by Advanced Patient Monitoring which grew 12% on strength in the U.S. consumables. MMS grew modestly with the difficult prior year comparison in Alaris capital, offset by strong infusion sets performance on increased utilization versus last year fluid supply disruption and pull-through from Alaris share gains. BioPharma Systems declined 1.8%, in line with expectations. Continued double-digit growth in Biologics led by GLP-1s was more than offset by lower demand for vaccine products. Interventional grew 5.3% with solid mid-single-digit growth across the segment. UCC was led by continued double-digit in PureWick. Surgery performance was driven by double-digit growth in Infection Prevention and Advanced Tissue Regeneration. PI grew - growth was led by peripheral vascular disease and oncology, partially offset by China market dynamics.
Risks & headwinds
Mentioned factors like Alaris, vaccines, and China as headwinds. Also, concern about oil and resin prices impacting COGS, although hedging and BD Excellence actions are in place to mitigate impact.
Analyst Q&A
Q: Vijay Kumar asked about performance and underlying excluding headwinds;
A: Thomas Polen and Vitor Roque responded.
Q: Travis Steed asked about revenue and margin cadence;
A: Thomas Polen and Vitor Roque responded.
Q: Robbie Marcus asked about capital allocation;
A: Thomas Polen responded.
Q: Larry Biegelsen asked about ChloraPrep ship hold;
A: Thomas Polen responded.
Q: Frederick Wise asked about Vitor's priorities;
A: Thomas Polen and Vitor Roque responded.
Q: David Roman asked about MMS;
A: Thomas Polen responded.
Q: Matt Miksic asked about BD Excellence and oil/resin;
A: Thomas Polen and Vitor Roque responded.
Q: Josh Jennings asked about portfolio growth acceleration;
A: Thomas Polen responded.
Q: Joanne Wuensch asked about headwinds rolling off;
A: Thomas Polen and Vitor Roque responded.
Q: Shagun Singh Chadha asked about Alaris transition and GLP-1;
A: Thomas Polen and Vitor Roque responded