Sector: Healthcare|Industry: Medical Instruments & Supplies|Market Cap: $64.79B|Employees: 74K
Becton, Dickinson and Company (BD) is a global medical technology company focused on developing, manufacturing, and selling a wide range of medical supplies, devices, laboratory equipment, and diagnostic products. BD's core business model centers around providing customer solutions for medication management, infection prevention, surgical procedures, drug delivery, and disease diagnosis. The company operates in key markets worldwide, including the United States, Europe, Greater Asia, and Latin America.
Q1 2024 revenue increased 2.6% YoY to $4.706B, driven by 2.0% pricing and 0.5% volume growth, offset by a 0.9% decrease due to the sale of the Surgical Instrumentation platform. Foreign currency translation contributed 1.0% to the increase.
Operating income decreased to $439M from $585M YoY, primarily due to unfavorable impacts from higher raw material and labor costs, as well as restructuring expenses. Gross profit margin decreased to 43.1% from 46.5% YoY.
Net income decreased to $281M from $509M YoY. Diluted earnings per share decreased to $0.96 from $1.70 YoY, primarily due to lower operating income and unfavorable specified items.