Becton, Dickinson And Co. Raises FY22 Outlook Above Market View

(RTTNews) - While announcing weak first quarter results, medical technology company Becton, Dickinson and Co. (BDX) raised its fiscal 2022 adjusted earnings per share and revenue guidance.

The company now expects full-year adjusted earnings per share to be $12.80 to $13.00, including an incremental headwind of approximately $0.10 from foreign currency, compared to $12.30 to $12.50 expected previously.

Annual revenues are now expected to be in the range of $19.55 billion to $19.75 billion, which reflects an increase of approximately $250 million, compared to previously estimated around $19.3 billion to $19.5 billion.

On average, analysts polled by Thomson Reuters expect earnings of $12.42 per share on revenues of $19.43 billion for the year. Analysts' estimates typically exclude special items.

In fiscal 2021, earnings per share were $6.85, adjusted earnings per share were $13.08 and revenues were $20.25 billion.

The renewed revenue guidance now assumes base business currency-neutral revenue growth of 5.75 percent to 6.75 percent, compared to 5 percent to 6 percent previously announced.

The outlook also reflects around $450 million in COVID-19-only diagnostic testing revenues, which is an increase of $250 million compared to previous expectation.