BD Announces Strong Financial Results for FY24, Forecasts Growth for FY25 with Revenue and Earnings Increases

BD, a global medical technology company, reported a 4.2% increase in FY24 revenue to $20.2 billion, with growth in revenue, GAAP diluted EPS, and free cash flow. The company guides an 8.9-9.4% GAAP revenue increase for FY25 and a 4.0-4.5% organic growth rate. BD also highlights its acquisition of Edwards Lifesciences' Critical Care product group and expansion in U.S. manufacturing.

BD, a prominent global medical technology company, reported a robust first quarter for fiscal 2024 (FY24), with a 4.2% increase in revenue to $20.2 billion [1]. This growth was driven by improvements in revenue, GAAP diluted earnings per share (EPS), and free cash flow.

The company's strong performance is a testament to its effective execution of the BD 2025 strategy, with a focus on simplification programs delivering margin improvement and cash flow ahead of expectations [1]. These efforts have positioned BD well to achieve its increased fiscal 2024 guidance.

Key contributors to BD's growth include its Medication Delivery Solutions business unit, which launched the SiteRite™ 9 Ultrasound System designed to enhance first attempt insertion success [1]. Additionally, the Integrated Diagnostics Solutions business unit received FDA 510(k) clearance for the BD MiniDraw™ Capillary Blood Collection System, a less invasive and more convenient finger-prick blood collection device [1].

BD's commitment to expanding access to healthcare extends beyond its product offerings. The company's recent collaboration with the Kenyan Government to advance access to critical cancer diagnostics for women in Kenya led to its signing of the World Economic Forum's Zero Health Gaps Pledge, further solidifying its dedication to health equity and access to care in under-resourced communities [1].

As part of its growth strategy, BD announced the acquisition of Edwards Lifesciences' Critical Care product group, expanding its portfolio and enhancing its offerings for acute care hospitals [2]. The company also highlighted its expansion in U.S. manufacturing, underscoring its commitment to local production and the creation of domestic jobs.

BD's strong first quarter results and positive outlook for the rest of FY24 position the company well to create value for all stakeholders.

References:
[1] BD Reports First Quarter Fiscal 2024 Financial Results. (2024, February 1). Retrieved from https://investors.bd.com/news-events/press-releases/detail/818/bd-reports-first-quarter-fiscal-2024-financial-results
[2] BD to Acquire Edwards Lifesciences' Critical Care Product Group. (2023, December 13). Retrieved from https://www.businesswire.com/news/home/20231213005071/en/