Becton Dickinson (NYSE:BDX) shares dropped nearly 3% in premarket trading on Monday after the medical technology group posted better-than-expected first-quarter results but issued full-year guidance that fell well short of market expectations.
The stock was down 2.74% before the opening bell following the earnings release.
For the first quarter, the company reported adjusted earnings of $2.91 per share, comfortably above analysts’ forecasts of $2.81. Revenue increased 1.6% year over year to $5.3 billion, beating the $5.15 billion consensus estimate. On a foreign-currency-neutral basis, revenue rose 0.4%, with so-called New BD revenue—excluding the Biosciences and Diagnostic Solutions unit—growing 2.5%.
However, investor sentiment was weighed down by BD’s fiscal 2026 adjusted earnings guidance of $12.35 to $12.65 per share, which came in far below the analyst consensus of $14.94. The company said the outlook reflects the impact of its Biosciences and Diagnostic Solutions business combination with Waters Corporation, which closed on the same day as the earnings announcement.
“We delivered stronger-than-expected first-quarter performance which reflects our disciplined execution, including accelerated commercial initiatives and broad-based growth across key end markets,” said Tom Polen, chairman, CEO and president of BD.
By segment, Connected Care delivered the strongest performance, with reported growth of 5.5% (4.7% on a foreign-currency-neutral basis). The BD Interventional segment grew 5.8% (5.1% FXN), while the Life Sciences segment—now in the process of being separated—declined 8.3% (10.5% FXN).
BD reaffirmed its fiscal 2026 revenue outlook, calling for low single-digit growth on a foreign-currency-neutral basis, with reported revenue growth expected in the “low single-digit plus” range.
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