Becton Beats But Guidance Disappoints

Still more earnings. This morning, Becton, Dickinson (BDX) said it made $2.20 per share. That’s a drop of more than 28%. This was for their fiscal third quarter. Wall Street had been expecting $2.04 per share.

Tom Polen, Becton’s president and CEO, said:

“We enter the fourth quarter with encouraging trends in health care procedures in June and July. We have continued strong demand for our products that support the global COVID-19 response, including the recent launch of our COVID-19 rapid point-of-care antigen test and our partnerships with governments around the world to help prepare for national vaccination programs. BD is playing an essential role enabling the world’s response to COVID-19, and I’m confident the steps we are taking now will put BD in the best possible position for the long term.”

Becton also said it expects earnings for this year to come in between $9.80 and $10.00 per share. Since Becton has already made $7.41 for the first nine months of this fiscal year, the new range implies earning of $2.39 to $2.59 per share for the current quarter.

Traders are not pleased. Wall Street had been expecting $3.08 per share. The shares are down about 7% this morning.

Posted by on August 6th, 2020 at 10:02 am


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