US-based medical technology company Beckton Dickinson (BD; NYSE: BDX) has reported its financial results for the first quarter of the fiscal year 2024, ending December 31, 2023. In constant currency terms, sales increased by 1.6% year-on-year (YOY) to USD 4.7 billion.
Breaking down the figures by business segment, BD Medical, which encompasses Medication Delivery Solutions (MDS), Medication Management Solutions (MMS), and Pharmaceutical Systems (PS) units, saw YOY growth of 2.4% to USD 2.23 billion. BD Life Sciences, including the Integrated Diagnostic Solutions (IDS) and Biosciences (BDB) units, experienced a decline of -2.5% to USD 1.28 billion. BD Interventional, offering Surgery, Peripheral Intervention (PI), and Urology & Critical Care (UCC) services, recorded an increase of 8.4% to USD 1.19 billion. Sales in the US rose by 0.7% to USD 2.75 billion, while international sales grew by 2.9% to USD 1.96 billion. During the earnings conference call, executives highlighted that volume-based procurement was a significant challenge for the company during the quarter, particularly affecting the MDS unit. However, this was offset by high single-digit growth in the Life Sciences business in that market.
BD has raised its guidance for full-year 2024 revenue expectations to a range of USD 20.2 billion to USD 20.4 billion, up from a previous range of USD 20.1 billion to USD 20.3 billion.- Flcube.com