)
Becton, Dickinson and Company (BDX) investor relations material
Becton, Dickinson and Company Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 FY26 revenue reached $5.3 billion, up 1.6% as reported and 0.4% FXN year-over-year, with strong operational execution and broad-based growth in key platforms and end markets.
Adjusted diluted EPS was $2.91, down 15.2% year-over-year, but ahead of expectations; GAAP diluted EPS was $1.34, with net income of $382 million, up 26.1% year-over-year.
The combination/spin-off of the Biosciences and Diagnostic Solutions business with Waters closed ahead of schedule, resulting in a $4 billion cash distribution for share repurchases and debt paydown.
The company is now positioned as a pure-play MedTech firm, focusing on high-growth end markets and innovation, with over 90% of revenues from recurring consumables.
$550 million was returned to shareholders in Q1 through dividends and share repurchases.
Financial highlights
Gross margin was 53.4% (down 140 bps YoY), and adjusted operating margin was 21.2% (down 240 bps YoY), both impacted by tariffs but partially offset by productivity gains.
Free cash flow was $548 million, with conversion improving to 66% from 59% last year.
Net leverage at quarter-end was 2.9x, with a long-term target of 2.5x.
Cash and equivalents at quarter-end were $740 million, with total debt at $19.54 billion and a weighted average cost of 3.4%.
$250 million in share repurchases and $299 million in dividends paid during the quarter.
Outlook and guidance
FY26 guidance projects low single-digit revenue growth FXN and adjusted EPS of $12.35–$12.65, up 4.7% to 7.2% YoY, with a 16%-17% tax rate.
Q2 revenue growth expected at ~2% FXN, with Q2 adjusted EPS in the range of $2.72–$2.82.
$4 billion from the Waters transaction will be split equally between share repurchases and debt paydown.
No significant ramp expected between quarters; performance is expected to be steady throughout the year.
Guidance reflects the separation of Biosciences and Diagnostic Solutions, with the disposed business accounted for as discontinued operations.
Next Becton, Dickinson and Company earnings date
Next Becton, Dickinson and Company earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)