10-Q · February 9, 2026
Becton, Dickinson reported quarterly revenue of $5,252 million and diluted EPS of $1.34 for the three months ended December 31, 2025, both ahead of the prior-year quarter. Gross profit and operating income improved vs.…
Earnings analysis · 10-Q
BDX earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Becton, Dickinson and Company reported strong second-quarter 2026 results with impressive revenue growth, exceeding estimates at $4.71 billion, a 5.2% increase year-over-year. Diluted EPS also surprised on the upside,…
Read full summary
Becton, Dickinson and Company reported strong second-quarter 2026 results with impressive revenue growth, exceeding estimates at $4.71 billion, a 5.2% increase year-over-year. Diluted EPS also surprised on the upside, coming in at $2.90 compared to expectations of $2.77, despite facing challenges such as higher operating expenses and ongoing restructuring costs.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.9
- Segment
- Medical Essentials
- Segment
- Connected Care
- Segment
- BioPharma Systems
- Segment
- Interventional
What stood out
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Revenue Growth Exceeds Estimates
Revenue for Q2 2026 was $4.714 billion, exceeding estimates of $4.671 billion by 0.91%.
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EPS Beats Expectations
Diluted EPS came in at $2.90, compared to an estimate of $2.77, representing a positive surprise of 4.69%.
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Increased Medical Essentials Revenue
Medical Essentials segment revenue grew to $1.647 billion, a 4.7% increase from Q2 2025's revenue of $1.573 billion.
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Successful Cash Flow Generation
The operating cash flow for the first half of 2026 was $1.328 billion, significantly increasing from $489 million in the prior year.
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Debt Reduction Efforts
Total debt decreased from $19.18 billion to $17.279 billion, marking a 9.9% reduction year-over-year.
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Increased Share Buyback
During the first six months of fiscal 2026, BD repurchased approximately $2.250 billion of its common stock.
What to watch
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High Restructuring Costs
Integration and restructuring costs saw a sharp increase to $533 million in Q2 2026 from $93 million in Q2 2025.
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Impact of Tariffs
Tariffs have adversely affected operating expenses, contributing to an increased operating cost structure.
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Regulatory Challenges
Ongoing FDA-related investigations and warnings pose risks to future operations and revenue, particularly concerning control of products.
Management's outlook
Management anticipates an adjusted EPS range increase from $12.35-$12.65 to $12.52-$12.72 for FY 2026.
Earlier filings 4
10-Q · May 1, 2025
Becton, Dickinson and Company (BDX) reported a modest revenue increase in Q2 2025 compared to Q2 2024, with total revenue of $5.27 billion, up from $5.05 billion. However, the company experienced a decrease in gross…
10-K · November 27, 2024
BD completed the acquisition of Edwards Lifesciences’ Critical Care product group for $3.911 billion (reported as BD Advanced Patient Monitoring) and funded the deal with cash and net proceeds from debt issuances and…
10-Q · February 1, 2024
BDX reported Q1 revenue of $4,706 million, up $120 million (2.6%) versus the prior-year quarter, but operating income fell to $439 million from $585 million and diluted EPS declined to $0.96 from $1.70. Operating cash…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.