BD (BDX) Q1 2026 Financial Results Summary
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BD (BDX) Q1 2026 Financial Results Summary
Release Date: February 9, 2026
BD (Becton, Dickinson and Company) (NYSE: BDX), a global leader in medical technology, reported its first-quarter financial results for fiscal year 2026, which ended on December 31, 2025. Below is a detailed summary of the key financial metrics and operational highlights.
Financial Highlights
- Total Revenue:
- $5.3 billion, up 1.6% reported and 0.4% on a foreign currency-neutral basis (FXN) compared to $5.2 billion in Q1 2025.
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New BD Revenue (excluding Life Sciences) increased 2.5% FXN.
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Earnings Per Share (EPS):
- GAAP diluted EPS: $1.34, increased by 28.8% from $1.04 in Q1 2025.
- Adjusted diluted EPS: $2.91, a decrease of 15.2% from $3.43 in Q1 2025.
Segment Details
- U.S. Revenue:
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$3.2 billion, an increase of 2.6% from $3.1 billion in Q1 2025.
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International Revenue:
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$2.1 billion, up 0.2% from $2.1 billion in Q1 2025.
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Revenue by Segment:
- Medical Essentials:
- $1.6 billion, increasing by 0.6%.
- Connected Care:
- $1.1 billion, increased by 5.5%.
- BioPharma Systems:
- $429 million, up by 2.7%.
- Interventional:
- $1.3 billion, rising by 5.8%.
- Life Sciences:
- $766 million, down by 8.3%.
Operational Developments
- Combination with Waters Corporation for the Biosciences and Diagnostic Solutions business, expected to close on the same day as the earnings announcement.
- Affirmed FY26 revenue growth guidance, with expected GAAP revenue growth characterized as low single-digit plus.
Expenses and Income
- Total Operating Costs:
- $4.7 billion, a slight decrease of 0.3% from $4.7 billion in Q1 2025.
- Operating Income:
- $552 million, increased by 21.8% from $453 million in Q1 2025.
- Net Income:
- $382 million, up 26.1% compared to $303 million in Q1 2025.
Cash Flow Highlights
- Net cash provided from operating activities: $657 million, down from $693 million in Q1 2025.
- Repurchases of common stock: $250 million, a decrease from $750 million in the same quarter a year ago.
- Dividends paid: $299 million, a slight decrease from $302 million in Q1 2025.
Balance Sheet Metrics
- Total Assets: $54.8 billion, decreased from $55.3 billion at the end of the previous quarter.
- Current debt obligations: $2.6 billion, increased from $1.6 billion.
- Shareholders’ equity: $25.3 billion, slightly decreased from $25.4 billion.
Full Year Fiscal 2026 Outlook
- The company reaffirmed the full-year fiscal 2026 guidance for New BD, projecting low single-digit growth in revenue and an adjusted diluted EPS in the range of $12.35 to $12.65.
Conclusion
BD’s performance in Q1 2026 demonstrates solid growth against a backdrop of strategic initiatives and operational resilience, with a focus on advancing clinical technology and market presence. The company is well-positioned to achieve its fiscal year guidance amid ongoing developments in the healthcare sector.
Here are the extracted tables from the press release:
| Three Months Ended December 31, | % Change | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Revenues | $5,252 | $5,168 | 1.6 | |
| Cost of products sold | 2,841 | 2,933 | -3.1 | |
| Selling and administrative expense | 1,393 | 1,318 | 5.6 | |
| Research and development expense | 306 | 343 | -11.0 | |
| Integration, restructuring and transaction expense | 111 | 92 | 20.4 | |
| Other operating expense, net | 50 | 28 | 75.9 | |
| Total Operating Costs and Expenses | 4,700 | 4,715 | -0.3 | |
| Operating Income | 552 | 453 | 21.8 | |
| Interest expense | -153 | -155 | -1.1 | |
| Interest income | 4 | 23 | -82.2 | |
| Other expense, net | -10 | -16 | 34.1 | |
| Income Before Income Taxes | 393 | 306 | 28.5 | |
| Income tax provision | 11 | 3 | 299.9 | |
| Net Income | 382 | 303 | 26.1 | |
| Basic Earnings per Share | $1.34 | $1.05 | 27.6 | |
| Diluted Earnings per Share | $1.34 | $1.04 | 28.8 | |
| Average Shares Outstanding (in thousands) | Basic | 285,582 | 289,505 | |
| Diluted | 285,845 | 290,389 |
| December 31, 2025 | September 30, 2025 | |
|---|---|---|
| Assets | ||
| Cash and equivalents | $740 | $641 |
| Restricted cash | 284 | 210 |
| Short-term investments | 11 | 8 |
| Trade receivables, net | 2,508 | 2,994 |
| Inventories | 4,085 | 3,894 |
| Prepaid expenses and other | 1,560 | 1,508 |
| Total Current Assets | 9,189 | 9,255 |
| Property, plant and equipment, net | 6,972 | 6,997 |
| Goodwill and other intangibles, net | 35,645 | 36,017 |
| Other assets | 3,035 | 3,056 |
| Total Assets | $54,841 | $55,325 |
| Liabilities and Shareholders’ Equity | ||
| Current debt obligations | $2,623 | $1,560 |
| Other current liabilities | 6,138 | 6,753 |
| Long-term debt | 16,916 | 17,621 |
| Long-term employee benefit obligations | 1,067 | 1,069 |
| Deferred income taxes and other liabilities | 2,815 | 2,933 |
| Shareholders’ equity | 25,282 | 25,390 |
| Total Liabilities and Shareholders’ Equity | $54,841 | $55,325 |