BD shares fall on Q3 sales miss

Shares in Becton Dickinson &Co. (NYSE:BDX) have fallen today after the medical device maker narrowly topped earnings per share expectations but missed sales consensus on Wall Street with its 3rd quarter results. The Franklin Lakes, N.J.-based company posted losses of $165 million, or 75¢ per share, on sales of $3 billion for the 3 months ended June 30, for negative bottom-line growth of 142.3% while sales shrunk 5.1% compared with the same period last year. Adjusted to exclude 1-time items, earnings per share were $2.46, just ahead of the $2.44 consensus on Wall Street, where analysts were expecting to see sales of $3.1 billion for the quarter. “We are pleased with our 3rd quarter performance and outlook for fiscal year 2017. We continue to deliver consistent, solid results while driving toward the successful closing of the C.R. Bard acquisition,” CEO Vincent Forlenza said in a press release. Becton Dickinson adjusted its full fiscal year 2017 outlook, expecting to see revenues decrease from 3% to 3.5% due to the divestiture of its respiratory solutions biz, down from earlier guidance of between 3.5% and 4%. The company said it expects to post diluted earnings per share between $5.10 and $5.15 for the quarter. BD also lifted its adjusted diluted earnings per share guidance to between $9.42 and $9.47, up from previous guidance of between $9.35 and $9.45. Shares in BD have dropped 1.5% so far today, at $198.08 as of 10:04 a.m. EDT. The post BD sha...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat bectondickinson Source Type: news

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