Becton, Dickinson and Co (NYSE:BDXB.PFD)

$ 48.16 0.66 (1.39%) Market Cap: - Enterprise Value: - PE Ratio: 48.87 PB Ratio: 2.65 GF Score: 79/100

Q3 2024 Becton Dickinson and Co Earnings Call Transcript

Aug 01, 2024 / 12:00PM GMT

Transcript 10-Q8-K

Key Points

Positve

Becton Dickinson & Co (BDX) reported mid-single-digit organic revenue growth of 5.2%, demonstrating the durability of their portfolio.
The company achieved over 18% adjusted earnings per share growth and raised their earnings guidance for fiscal 2024.
Strong execution led to over 100% year-to-date growth in free cash flow, with an 80% free cash flow conversion rate.
The BD Excellence operating system contributed to significant sequential and year-over-year adjusted gross margin increases.
The company is making progress with its BD 2025 strategy, including the successful integration of the critical care acquisition, which is expected to be immediately accretive to margins and earnings.

Negative

Becton Dickinson & Co (BDX) faced transitory market dynamics in the BDB and PS segments, as well as macroeconomic factors in China.
The company experienced a decrease in revenue from China due to continued market dynamics and anti-corruption measures affecting distributor inventory levels.
There were lower market demands for instruments in the biosciences segment, partially offsetting growth in other areas.
The pharmaceutical systems segment faced industry-wide customer inventory destocking, impacting overall performance.
The company had to adjust its revenue guidance due to the latest market dynamics, reflecting a cautious outlook for the remainder of the fiscal year.

Operator

Hello and welcome to BD's third quarter fiscal 2024 earnings conference call. At the request of BD, today's call is being recorded and will be available for replay on BD's investor relations website at investors.bd.com or by phone at 800-839-2385 for domestic calls and area code +1 402-220-7203 for international calls. (Operator Instructions)

I will now turn the call over to Greg Rodetis, Senior Vice President, Treasurer, and Head of Investor Relations. Please go ahead.

Greg Rodetis

Becton Dickinson and Co - Senior Vice President, Treasurer & Head of Investor Relations

Good morning and welcome to BD's earnings call. I'm Greg Rodetis, Senior Vice President, Treasurer, and Head of Investor Relations. Thank you for joining us. This call is being made available via audio webcast at bd.com. Earlier this morning, BD released its results for the third quarter of fiscal 2024. The press release and presentation can be accessed on the IR website at investors.bd.com.

Leading today's call are Tom Polen, BD's Chairman, Chief Executive Officer and

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