NYSE$BDX

Becton Dickinson & Co. · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

BD's Q4 2021 earnings report was announced, revealing a mix of growth and challenges.

BD reported a 7.3% increase in revenue to $5.1 billion for the fourth fiscal quarter. GAAP EPS increased 133.3% to $0.84, while adjusted EPS decreased 7.2% to $2.59. The company issued fiscal year 2022 revenue guidance of $19.3 to $19.5 billion and adjusted diluted EPS guidance of $12.30 to $12.50.

  • Fourth fiscal quarter revenues increased by 7.3% to $5.1 billion.
  • GAAP diluted earnings per share increased 133.3% to $0.84.
  • Adjusted diluted EPS decreased 7.2% to $2.59.
  • Fiscal year 2022 revenue guidance is $19.3 to $19.5 billion.

Headline financials

Total Revenue

$5.14B

Previous: $4.78B+7.3%
EPS (adj)

$2.59

Previous: $2.79-7.2%
Capital Expenditures

$465M

Previous: $213M+118.3%
Free Cash Flow

$486M

Previous: $1.27B-61.7%
Net Income

$265M

Previous: $128M+107.0%
Operating Income

$495M

Previous: $254M+94.9%
Gross Profit

$2.29B

Previous: $2.21B+3.7%
Cash & Equivalents

$2.28B

Previous: $2.83B-19.2%
Total Assets

$53.9B

Previous: $54B-0.3%
Stock-Based Comp

$48M

Previous: $51M-5.9%

Revenue & EPS history

BD · Revenue · Quarterly

$5.14B

Q4 2021+7.3%vs Q4 2020
Beat estimate in 16 of 16 quarters(100%)
ActualEstimate

Revenue by segment

BD · $2.53B total across 2 segments · Q4 2023

  • BD Life Sciences
    $1.33B+3.3%
  • BD Interventional
    $1.2B+9.7%

Forward guidance

BD expects fiscal year 2022 revenues to be in the range of $19.3 to $19.5 billion and adjusted diluted EPS to be $12.30 to $12.50.

Tailwinds

  • Base business currency-neutral revenue growth of 5% to 6%
  • Continued momentum across our businesses driven by our BD 2025 growth strategy
  • Continued recovery from the COVID-19 pandemic
  • Approximately $200 million in COVID-19-only diagnostic testing revenues
  • Improved margin profile.

Headwinds

  • Foreign exchange would represent a headwind of approximately 50 basis points to total company revenue growth.
  • Potential charges or gains that may be recorded during the fiscal year
  • Non-cash amortization of intangible assets
  • Acquisition-related charges
  • Spin-off related charges

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-0.9%

Avg return

Earnings day

-0.9%

Avg return

5 days after

-0.5%

Avg return

30 days after

38%

28 / 73 earnings

Positive

+8.9%

Q3 2025

Best reaction

-18.1%

Q2 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-0.7%-1.1%+4.6%
Q1 2026-1.3%+6.5%-1.2%
Q4 2025+0.6%+7.2%+10.0%
Q3 2025+8.9%+13.1%+11.6%
Q2 2025-18.1%-20.3%-16.7%
Q1 2025-6.3%-5.3%-5.3%
Q4 2024-3.5%-3.7%-8.3%
Q3 2024+0.3%-2.3%+0.6%
Q2 2024+0.4%+1.5%-0.7%
Q1 2024-0.7%-0.1%-1.5%
Q4 2023-8.3%-8.8%-9.2%
Q3 2023-2.0%+1.8%+0.8%
Q2 2023-3.8%-5.3%-4.5%
Q1 2023-3.3%-0.4%-6.7%
Q4 2022+4.3%+1.9%+13.4%
Q3 2022+3.8%+4.2%+3.2%
Q2 2022+1.7%-1.4%-0.5%
Q1 2022+4.7%+7.7%+7.3%
Q4 2021-1.3%-1.4%-1.2%
Q3 2021-5.4%-6.3%+1.2%
Q2 2021-4.2%-3.4%-3.6%
Q1 2021-2.4%-2.6%-5.5%
Q4 2020-0.1%+1.5%+2.5%
Q3 2020-9.5%-10.0%-17.4%
Q2 2020-1.8%+1.1%-6.6%
Q1 2020-13.7%-10.3%-16.4%
Q4 2019-3.8%-6.1%-0.7%
Q3 2019+3.5%+7.6%+9.4%
Q2 2019-3.0%-4.1%+2.6%
Q1 2019-1.7%-2.0%-0.2%
Q4 2018-0.2%+2.5%+1.6%
Q3 2018-1.1%-0.8%+4.7%
Q2 2018-2.4%-3.8%-2.3%
Q1 2018-1.3%-3.4%-0.6%
Q4 2017+7.9%+6.3%+8.8%
Q3 2017-1.9%-2.1%-0.9%
Q2 2017-1.4%-0.5%+3.5%
Q1 2017+0.2%-0.1%+3.2%
Q4 2016+4.9%+7.1%-0.8%
Q3 2016-1.2%-0.9%+0.9%
Q2 2016+2.0%
Q1 2016-4.9%
Q4 2015+3.8%
Q3 2015-3.2%
Q2 2015+0.7%
Q1 2015+2.4%
Q4 2014-0.2%
Q3 2014-2.8%
Q2 2014-0.4%
Q1 2014+1.8%
Q4 2013+0.5%
Q3 2013-2.1%
Q2 2013+4.1%
Q1 2013+3.2%
Q4 2012-4.3%
Q3 2012-1.1%
Q2 2012+0.0%
Q4 2011-4.6%
Q1 2012+1.2%
Q3 2011-2.6%
Q2 2011-1.0%
Q1 2011-0.5%
Q4 2010+2.0%
Q3 2010+1.6%
Q2 2010-2.6%
Q1 2009+0.5%
Q1 2010-1.4%
Q4 2007-1.2%
Q2 2009-1.2%
Q4 2009-1.2%
Q3 2009+2.5%
Q3 2008+2.5%
Q4 2008+2.5%

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