Becton, Dickinson And Company · NYSE:BDX
Becton, Dickinson And — Q4 2020 Earnings Presentation
35 slides from Becton, Dickinson And's earnings presentation, Nov 5, 2020
Slide 1: Advancing the world of health
Advancing the world of health™ November 5, 2020 BD and the BD Logo are trademarks of Becton, Dickinson and Company © 2020 BD and its subsidiaries All rights reserved 1
Slide 2: Caution Concerning Forward-Looking Statements
Caution Concerning Forward-Looking Statements This document contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD’s performance, including future revenues and earnings per share. All such statements are based upon current expectations
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures • To supplement BD’s consolidated financial statements presented on a U.S. GAAP basis, the Company discloses certain non- GAAP financial measures. These non-GAAP financial measures are not in accordance with generally accepted accounting principles in the United States. •
Slide 4: Executive Overview
Executive Overview Tom Polen CEO and President
Slide 5: BD is an innovative, med-tech leader
BD is an innovative, med-tech leader A market leader across our businesses… $17.1 Billion in global BD Medical Optimizing core healthcare revenues $8.7 Billion delivery processes in: • Medication management • Drug delivery United • Infection prevention States Other $9.7B Developed China Markets $1.0
Slide 6: Revenue growth in Q4 driven by COVID-19 testing and improving trends
Revenue growth in Q4 driven by COVID-19 testing and improving trends across all segments Over $440 million in COVID-19 testing revenues drove mid-single digit revenue growth Revenues $ in millions Reported FXN Segment F4Q20 Y/Y % ∆ Y/Y % ∆ BD Medical $2,318 (4.9%) (4.9%) BD Life Sciences $1,488 31.2
Slide 7: Delivering innovation to expand testing capabilities for COVID-19 detection
Supporting the Global COVID-19 Response Delivering innovation to expand testing capabilities essential for rapid COVID-19 detection BD Max™ BD Veritor™ Automating molecular testing in Rapidly confirming infection at hospital and core labs the point-of-care • Real-time PCR tests aid in the rapid dete
Slide 8: Leveraging global scale for vaccination campaign readiness
Supporting the Global COVID-19 Response BD is leveraging our global scale and manufacturing excellence for vaccination campaign readiness BD is ramping up production and ensuring supply chain continuity of important needles and syringes, including safety-engineered and auto-disable injection devices
Slide 9: Dynamic dashboards and data analytics provide near-real time insights
Supporting the Global COVID-19 Response BD’s dynamic dashboards and data analytics provide near-real time insights when it matters most Tracking COVID-19 is a national priority. The US Centers for Disease Control and Prevention wants to “conduct robust, timely analyses and studies related to COVID-1
Slide 10: HealthSight Infection Advisor, with MedMined Insights database
Supporting the Global COVID-19 Response A look into our HealthSight Infection Advisor, with MedMined Insights™ database Hospital-based procedures have rebounded from BD HealthSight™ Clinical April lows…but since then have rarely trended above and Infection Advisor with the 100% level MedMined™ Insig
Slide 11: Delivering innovative solutions to drive growth and impact
Delivering innovative solutions to drive growth and impact
Slide 12: BD's Value Creation Framework
BD’s Value Creation Framework Advancing our long-term strategy to emerge from the COVID-19 pandemic period strong and better positioned for value creation Grow Simplify Network and portfolio of SKUs Category Customer Globalization Business processes innovation outcomes Empower Digitalization Strong
Slide 13: In FY20, BD launched ~30 strategic new products
In FY20, BD launched ~30 strategic new products, delivering our innovation pipeline in all three segments BD Medical BD Provena™ Solo BD PowerMidline™ Catheter BD Pyxis™ Logistics 1.2 BD Provena™ Midline Catheter with Max Barrier+ Kits BD Intevia™ 1ml with Max Barrier+ Kits BD Intraosseo
Slide 14: FY21 innovation: BD Life Science highlights
In FY21, BD will invest more in R&D and execute our innovation pipeline to drive growth and impact BD Life Science innovation highlights Combination SARS-CoV-2 and influenza assays on BD Max and BD Veritor Entering the U.S. Molecular Core Lab with BD COR™ Designed to meet the evolving needs of centr
Slide 15: FY21 innovation: BD Medical highlights
In FY21, BD will invest more in R&D and execute our innovation pipeline to drive growth and impact BD Medical innovation highlights BD UltraSafe Plus™ 2.25 mL passive needle guard • Launched in Q4 FY 2020. • Complements our commercially proven, high growth safety portfolio in Pharmaceutical Systems.
Slide 16: FY21 innovation: BD Interventional highlights
In FY21, BD will invest more in R&D and execute our innovation pipeline to drive growth and impact BD Interventional innovation highlights Balancing innovation across the Interventional segment while unlocking new opportunities in adjacent and underserved categories: Peripheral Intervention • FY21 E
Slide 17: Inorganic innovation and tuck-in M&A to drive growth
BD is leveraging inorganic innovation and tuck-in M&A to advance category solutions and drive growth BD executed six deals in FY20; our deal funnel is healthy entering FY21 Selection transactions include… BD Life Sciences NAT Diagnostics, Inc. • Acquired February 2020. • Innovative development platf
Slide 18: Financial Overview
Financial Overview Chris Reidy EVP, CFO and CAO
Slide 19: F4Q20 Revenue Overview
F4Q20 Revenue Overview Est Net Management’s commentary F4Q20 Reported FXN COVID Regarding the year-over-year change in $ in millions Y/Y % ∆ Y/Y % ∆ Impact revenues… Segments On a total BD level, we estimate: BD Medical $2,318 (4.9%) (4.9%) (370bps) – COVID-19 testing contributed +970bps BD Life Sci
Slide 20: BD Medical Revenues
BD Medical Revenues Continued COVID-19 and Alaris remediation headwinds; another strong PS quarter F4Q20 Revenues FXN Y/Y Business Unit ($ millions) % Change BD Management Commentary Medication $921M (5.6%) Continue to see pressure year-over-year due to COVID. Delivery Solutions Sequential improveme
Slide 21: BD Life Sciences Revenues
BD Life Sciences Revenues COVID-19 testing drives significant growth F4Q20 Revenues FXN Y/Y Business Unit ($ millions) % Change BD Management Commentary Preanalytical Systems $378M (3.0%) Continue to see some pressure y/y due to COVID. Growth (PAS) in wingsets and selected parts of tubes. Sequential
Slide 22: BD Interventional Revenues
BD Interventional Revenues Sequential improvement observed in elective procedures F4Q20 Revenues FXN Y/Y Business Unit ($ millions) % Change BD Management Commentary Surgery $286M (9.1%) Sales continue to be negatively impacted by COVID-19. OUS sales also impacted by inventory adjustments associated
Slide 23: F4Q20 non-GAAP Income Statement
F4Q20 non-GAAP Income Statement Reported FXN Management’s commentary F4Q19 F4Q20 Y/Y ∆ Y/Y ∆ • Gross margins were primarily Revenues $4,584 $4,784 4.4% 4.4% impacted by COVID-19 headwinds and manufacturing Gross Profit $2,616 $2,621 0.2% 0.8% variances. Gross margin 57.1% 54.8% (230bps) (200bps) • S
Slide 24: FY21 assumptions and non-GAAP guidance
FY21 assumptions and non-GAAP guidance • The greatest uncertainty we see is the recent COVID-19 resurgences around the world and the potential impact this may have on general healthcare utilization, procedure volumes and diagnostic testing, including COVID-testing. • Health care systems seem better
Slide 25: Long-standing commitment to positive societal impact through ESG leadership
BD’s long-standing commitment to create positive societal impact through ESG leadership
Slide 26: Delivering long-term value for all stakeholders
Delivering long-term value for all stakeholders Develop and maintain a strong portfolio of leading products and solutions that address significant unmet clinical needs, improve outcomes, and reduce costs. INNOVATION BD launched BD PurPrep™ with sterile solution, a fully sterile povidone-iodine plus
Slide 27: BD Helping Build Healthy Communities
BD Helping Build Healthy Communities™ At BD, we're passionate about advancing the world of health — and that passion extends through our approach to social investing. Our company values guide us to "do what's right," "take personal responsibility," and to "respect, collaborate with, challenge and ca
Slide 28: Non-GAAP Reconciliations
Non-GAAP Reconciliations %& BD
Slide 29: F4Q20 Non-GAAP P&L Reconciliation
F4Q20 Non-GAAP P&L Reconciliation 29 Please refer to the subsequent slide for accompanying footnotes BD, the BD Logo are trademarks of Becton, Dickinson and Company. © 2020 BD and its subsidiaries. All rights reserved.
Slide 30: F4Q20 Non-GAAP P&L Reconciliation (continued)
F4Q20 Non-GAAP P&L Reconciliation (continued) 30 BD, the BD Logo are trademarks of Becton, Dickinson and Company. © 2020 BD and its subsidiaries. All rights reserved.
Slide 31: FY20 Non-GAAP P&L Reconciliation
FY20 Non-GAAP P&L Reconciliation 31 BD, the BD Logo are trademarks of Becton, Dickinson and Company. © 2020 BD and its subsidiaries. All rights reserved.
Slide 32: FY20 Non-GAAP P&L Reconciliation (continued)
FY20 Non-GAAP P&L Reconciliation (continued) 32 BD, the BD Logo are trademarks of Becton, Dickinson and Company. © 2020 BD and its subsidiaries. All rights reserved.
Slide 33: Fiscal 2021 Guidance Outlook Reconciliation
Fiscal 2021 Guidance Outlook Reconciliation Adjusted diluted earnings per share for fiscal 2021 excludes potential charges or gains that may be recorded during the fiscal year, such as, among other things, the non-cash amortization of intangible assets, acquisition-related charges, and certain tax m
Slide 34: F4Q20 Revenue Growth Reconciliation
F4Q20 Revenue Growth Reconciliation 34 BD, the BD Logo are trademarks of Becton, Dickinson and Company. © 2020 BD and its subsidiaries. All rights reserved.
Slide 35: Advancing the World of Health
Advancing the World of Health™ 35 BD, the BD Logo are trademarks of Becton, Dickinson and Company. © 2020 BD and its subsidiaries. All rights reserved.
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