BD (Becton, Dickinson and Company) has reported a net income of $303m, or $1.04 per diluted share, for the first quarter of fiscal year 2025 (Q1 FY2025), an 8% increase compared to $281m, or $0.96 per diluted share, for the same quarter in 2024.
The diagnostic company’s net income for Q1 FY 2025 decreased by 28% compared to $421m for the preceding quarter, the fourth quarter of fiscal year 2024 (Q4 FY2024).
BD reported net revenues of $5.16bn for Q1 FY2025, a 10% increase compared to$4.7bn for the same quarter in 2024, and a 5% decline compared to $5.43bn for Q4 FY2024.
The company reported total operating costs and expenses of $4.71bn for Q1 FY2025, a 10% decline compared to $4.26bn for the respective quarter in FY 2024.
BD reported an income before income tax of $306m for Q1 FY2025, a 15% decline compared to $359m for the same quarter in the previous year.
BD chairman, CEO and president Tom Polen said: “We delivered strong operational performance in Q1, with revenue growth, margin expansion and earnings per share all ahead of our expectations.
“We continue to transform our company through BD 2025, and our intention to separate Biosciences and Diagnostic Solutions builds on the strong foundation and momentum of our strategy.
“Our talented teams continue to drive solid execution of BD 2025 and meaningful innovation in these businesses and across BD.”
In a separate development, BD has announced its plans to separate its Biosciences and Diagnostic Solutions business from the remaining operations.
The company said the separation aims to enhance its strategic focus, investments and capital allocation for both the separated business and remaining operations.
BD’s board of directors unanimously authorised the management to pursue the proposed separation, which is a part of its business portfolio evaluation launched in early 2024.
The diagnostics company said the separation would strengthen its position in Medical Essentials, Connected Care, BioPharma Systems, and Interventional segments.
Also, its separated Biosciences and Diagnostic Solutions business would become a differentiated player in life sciences tools and diagnostics segments.
BD CEO and president chairman Tom Polen said: “Our BD 2025 strategy has transformed the company into a faster-growing, more profitable organisation positioned at the forefront of long-term growth trends in health care, and we believe today’s announcement is an exciting next step in unlocking significant potential value for all our stakeholders.
“We believe the separation will position New BD as a differentiated MedTech leader and enable optimised investment to accelerate our innovation pipeline and ongoing margin enhancement through BD Excellence to further fund growth.
“We believe Biosciences and Diagnostic Solutions is expected to deliver substantial value as a pure-play leader in life sciences and will be well-positioned to execute on its unique and compelling solutions and growth opportunities. This transaction is designed to position both businesses to thrive in our respective sectors and deliver value for shareholders.”
