The call highlighted strong revenue growth and successful product launches, with significant strategic moves and investments in innovation. However, challenges remain in the form of market headwinds in China and tariff impacts.

Company Guidance -

Q4 2025

During BD's Third Fiscal Quarter 2025 Earnings Call, several key metrics and strategic initiatives were highlighted. BD reported an 8.5% increase in revenue to $5.5 billion, with an organic growth rate of 3%. The adjusted gross margin expanded to 54.8%, up 50 basis points year-over-year, while the adjusted operating margin increased to 25.8%, up 60 basis points. The adjusted diluted EPS exceeded expectations at $3.68. BD reaffirmed its organic revenue guidance for the fiscal year and raised its earnings guidance by $0.18 at the midpoint. The company announced a definitive agreement to separate its Biosciences and Diagnostics business through a Reverse Morris Trust with Waters. BD plans to use at least half of the approximately $4 billion cash distribution from Waters for share buybacks. Significant investments in growth opportunities, including new product launches and selling and marketing resources, were emphasized as key drivers for future performance.

Revenue and Organic Growth

Revenue grew 8.5% to $5.5 billion, or 3% organic growth. New BD organic growth was 4%. Adjusted gross margin rose to 54.8%, up 50 basis points year-over-year.

Innovation and Product Launches

Successful launch of FACSDiscover A8 with breakthrough technologies, and the launch of the first Made in China for China clinical analyzer. Upcoming launches include next-generation BACTEC and new assays for BD MAX.

Strong Segment Performance

Pharm Systems improved to nearly 5% growth, BDI accelerated to nearly 7% growth, and APM delivered 13% pro forma growth. UCC showed strong growth with new product launches.

Positive Strategic Moves

Announced agreement to combine Biosciences and Diagnostic Solutions business with Waters through a tax-efficient Reverse Morris Trust. Plan to use at least half of the $4 billion cash distribution from Waters for share buybacks.

Becton Dickinson (BDX) Earnings, Revenues Date & History

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BDX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q4)	3.92 / -	3.81	―	―	―
Aug 07, 2025	2025 (Q3)	3.40 / 3.68	3.5	5.14% (+0.18)
May 01, 2025	2025 (Q2)	3.28 / 3.35	3.17	5.68% (+0.18)
Feb 05, 2025	2025 (Q1)	2.98 / 3.43	2.68	27.99% (+0.75)
Nov 07, 2024	2024 (Q4)	3.77 / 3.81	3.42	11.40% (+0.39)
Aug 01, 2024	2024 (Q3)	3.31 / 3.50	2.96	18.24% (+0.54)
May 02, 2024	2024 (Q2)	2.97 / 3.17	2.86	10.84% (+0.31)
Feb 01, 2024	2024 (Q1)	2.40 / 2.68	2.98	-10.07% (-0.30)
Nov 09, 2023	2023 (Q4)	3.42 / 3.42	2.75	24.36% (+0.67)
Aug 03, 2023	2023 (Q3)	2.91 / 2.96	2.66	11.28% (+0.30)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BDX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$172.41	$187.68	+8.86%
May 01, 2025	$205.85	$168.52	-18.13%
Feb 05, 2025	$242.49	$224.82	-7.29%
Nov 07, 2024	$236.42	$223.66	-5.40%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.