Becton, Dickinson and Co (BDX)
NYSE:BDX
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
3.13Last Year’s EPS
2.89Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized broad-based operational and commercial execution with revenue growth, margin resilience, strong cash generation and an increased full-year adjusted EPS outlook. Several high-growth platforms delivered double-digit growth and BD Excellence drove meaningful productivity and quicker product launches. Notable near-term headwinds include Alaris' upgrade-cycle comparisons, weaker vaccine demand, China market dynamics, tariff-related margin pressure, a $450 million noncash impairment, and a temporary ship hold following an FDA warning letter. Overall, positive operational momentum and capital returns outweighed the focused and disclosed challenges, giving confidence in the New BD strategy while acknowledging short-term risks.Company Guidance
Revenue Growth and Top-Line Performance
Q2 revenue of $4.7 billion, up 2.6% year-over-year (FX-neutral). Management reaffirmed full-year revenue guidance of low single-digit growth and expects H2 growth to be roughly similar to H1.
Adjusted EPS and Margin Outperformance
Adjusted EPS of $2.90 in Q2, up 3.9% year-over-year and ahead of expectations. Adjusted operating margin of 24.2% (ahead of company expectations) and adjusted gross margin of 54.7%.
Raised Full-Year Adjusted EPS Guidance
Updated FY26 adjusted EPS guidance increased to $12.52–$12.72, reflecting stronger-than-expected H1 performance and improved visibility into the remainder of the year.
Broad-Based Portfolio Momentum
More than 90% of the portfolio delivered mid-single-digit growth; multiple growth platforms delivered double-digit growth in the quarter including biologic drug delivery, Advanced Patient Monitoring (APM), PureWick and Advanced Tissue Regeneration.
Segment-Level Strengths
Connected Care grew 3.3% with APM up ~12% driven by U.S. consumables; Interventional grew 5.3%; Medical Essentials grew 1.7%; MM&S infusion sets saw low double-digit growth; BioPharma Systems mix shifting toward biologics (see next highlight).
Biologics Momentum
Biologics now represent ~55% of BioPharma Systems revenue (up from ~50% previously). Secured several significant long-term wins including two next-generation GLP-1 programs with global pharma companies.
Operational Productivity and BD Excellence
BD Excellence delivered ~8% productivity in Q2 and service levels >90%. Program has driven ~2,000 Kaizens annually, reduced time-to-launch by over 10 months on average across five development programs year-to-date, and is a core driver of margin and service improvement.
Cash Generation and Capital Return
Year-to-date free cash flow of $1.1 billion (significant increase vs. prior year). Returned ~$2.3 billion to shareholders in the quarter (including $2.0 billion in share repurchases and $0.3 billion of dividends) and retired $2.1 billion of debt; net leverage ~2.9x with a long-term target of 2.5x.
Cost-Out Progress and Manufacturing Rationalization
On a $200 million cost-out program with $150 million run rate already achieved; manufacturing footprint reduced to roughly 50 sites with further actions underway to simplify the network and drive margin expansion.
Commercial Traction and Product Launches
Notable commercial wins and launches: Alaris share gains (~50 bps in Q2, ~150 bps YTD), strong HemoSphere Alta adoption and Smart Recovery consumables demand (~20% increase), Pyxis Pro early traction (75% of wins are competitive conversions), and product launches including EnCor EnCompass Biopsy System, Revello Vascular Covered Stent (EU), HemoSphere Stream Module expansion, Surgiphor Pulse and Avitene Flowable.
BDX Earnings History
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 |
|---|---|---|---|
May 07, 2026 | $144.76 | $153.26 | +5.87% |
Feb 09, 2026 | $164.00 | $161.94 | -1.25% |
Nov 06, 2025 | $136.99 | $137.77 | +0.57% |
Aug 07, 2025 | $133.18 | $144.97 | +8.86% |
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.
FAQ
When does Becton, Dickinson and Co (BDX) report earnings?
Becton, Dickinson and Co (BDX) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is Becton, Dickinson and Co (BDX) earnings time?
Becton, Dickinson and Co (BDX) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BDX EPS forecast?
BDX EPS forecast for the fiscal quarter 2026 (Q3) is 3.13.
