Becton Dickinson and Company (BD) has reported a net income of $487m, or $1.68 per diluted share, for the third quarter of fiscal 2024 (Q3 2024), a 24.2% rise compared to $392m, or $1.36 per diluted share, for the respective quarter in 2023.
The diagnostics company’s net income for Q3 2024 declined by 9% compared to $537m, or $1.85 per diluted share for the second quarter of fiscal 2024 (Q2 2024).
BD reported total revenues of $4.99bn for Q3 2024, a 2.3% rise compared to $4.87bn for the same quarter in 2023, and a 1% decline compared to $5.04bn for Q2 2024.
The medical technology company reported total operating costs and expenses of $4.38bn for Q3 2024, a 1.3% rise compared to $4.32bn for the same quarter in 2023.
BD has reported an operating income of $602m for Q3 2024, a 9.7% increase compared to $549m for the respective quarter in the previous year.
The medical device company reported an income before tax of $500m for Q3 2024, a 6.1% rise compared to $471m for the same period in 2023.
BD CEO, chairman and president Tom Polen said: “We delivered strong performance across multiple parts of our portfolio, and accelerated margin expansion and cash flow driven by the growing momentum of our BD Excellence operating system.
“It’s never been clearer that our teams are transforming BD into the innovative MedTech leader we set out to be when we launched our BD 2025 strategy, and our focused efforts have positioned us well to achieve our increased fiscal 2024 earnings guidance and deliver on our long-term goals.”
BD’s Medical business reported total revenues of $2.55bn for Q3 2024, a 5.1% rise compared to $2.43bn for the respective quarter in 2023.
The medical device company’s Life Sciences unit reported revenues of $1.26bn for Q3 2024, a 2.7% increase compared to $1.22bn for the same period in the previous year.
The company’s Interventional business reported revenues of $1.24bn for Q3 2024, a 1.8 % rise compared to $1.21bn for the respective quarter in 2023.
In June this year, BD agreed to acquire Edwards Lifesciences’ Critical Care Product Group for $4.2bn to enhance its portfolio of smart connected care solutions and AI-based technologies.
