Becton, Dickinson And Company · NYSE:BDX
Becton, Dickinson And — Q2 2026 Earnings Presentation
23 slides from Becton, Dickinson And's earnings presentation, May 7, 2026
Slide 1: Q2 FY26 Earnings Presentation
Q2 FY26 Earnings Presentation May 7, 2026 Advancing the TM world of health
Slide 2: Caution Concerning Forward-looking Statements
Caution Concerning Forward-looking Statements This presentation and accompanying webcast contain certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD’s future prospects and performance, including, but not limited to, future revenues, margins,
Slide 3: Basis of Presentation
Basis of Presentation All dollar amounts presented are USD ($) in millions, unless otherwise indicated, except per share figures. FXN denotes currency-neutral basis. Revenue year-over-year change comparisons are on an FXN basis unless otherwise noted. References to “FY” refer to BD’s fiscal year, wh
Slide 4: Broad-Based Execution Drives Raised Full-Year Adjusted EPS Guidance
Broad-Based Execution Drives Raised Full-Year Adjusted EPS Guidance Delivered another quarter of consistent execution, reinforcing confidence in Revenue $4.7B New BD strategy +2.6% FXN Performance reflected broad-based execution across the portfolio, with more than 90% of the business delivering
Slide 5: Driving Competitive Wins, Innovation Speed and Productivity
Driving Competitive Wins, Innovation Speed and Productivity Compete Innovate Deliver + APM: delivered nearly 20% growth in Smart + Applied BD Excellence to 5 development + ~8% gross productivity improvements in our Recovery consumables programs and on average reduced the time to plants in Q2 FY26 la
Slide 6: High-Impact Launches Expanding Addressable Markets
High-Impact Launches Expanding Addressable Markets Transforming accessibility of continuous New low profile delivery system and Streamlining workflow across all image- noninvasive blood pressure monitoring flexible covered stent guided biopsy modalities HemoSphere Stream Module Revello Vascular Cove
Slide 7: Q2 FY26 Segment Revenue and Key Highlights
Q2 FY26 Segment Revenue and Key Highlights Medical Essentials Connected Care BioPharma Systems Interventional $1,647 $1,120 $590 $1,357 $575 $1,573 $1,068 $1,264 +1.7% +3.2% (1.8%) +5.3% FXN FXN FXN FXN Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 • MDS: $1,163; +1.4% FXN • MMS: $
Slide 8: Q2 FY26 Financial Summary: Revenue, Adjusted Margins and Adjusted EPS
Q2 FY26 Financial Summary: Revenue, Adjusted Margins and Adjusted EPS (As adjusted) $ in millions, except per share data Q2 FY26 Q2 FY25 Y/Y ∆ Revenues $4,714 $4,480 5.2%* FXN revenue growth 2.6% Gross Profit $2,579 $2,492 3.5% Gross margin 54.7% 55.6% (90 bps) SSG&A $1,228 $1,126 9.0% % of revenues
Slide 9: Strong Cash Generation and Capital Allocation Strategy
Strong Cash Generation and Capital Allocation Strategy Supporting $2.3B in Shareholder Returns Free Cash Flow +305% • YTD free cash flow improved YoY primarily driven by disciplined working capital management, improved asset utilization, and continued progress reducing non-operational cash items $1,
Slide 10: Raising Adjusted EPS Guidance on First-Half Momentum
Raising Adjusted EPS Guidance on First-Half Momentum Guidance as of Guidance as of May 7, 2026 February 9, 2026 Guidance Considerations • For the full year, expect ~120 bps FX tailwind on Revenue Growth (FXN) Low single-digit growth Low single-digit growth revenue(1) Adjusted Operating Margin ~25.0%
Slide 11: Summary
Summary Delivered another quarter of consistent execution, reinforcing confidence in New BD strategy Performance reflected broad-based execution across the portfolio, with more than 90% of the business delivering mid-single-digit revenue growth Commercial excellence and investments driving dou
Slide 12: Appendix
Appendix Q2 FY26 EARNINGS PRESENTATION May 7, 2026 12
Slide 13: Advancing a Stronger, More Focused Pipeline of High-Impact Solutions
Advancing a Stronger, More Focused Pipeline of High-Impact Solutions Medical Essentials Connected Care BioPharma Systems Interventional BD Incada BD Alaris BD Pyxis Pro Connected Infusion System Dispensing Solution Care Platform BD Neopak BD Vystra BD Physioject PureWick Male and Flex PureWick Surgi
Slide 14: Corporate Sustainability: Together We Advance
Corporate Sustainability: Together We Advance Named among Named among America’s Best Large Best Employers for Employers Company Culture by Forbes in 2026 by Forbes in 2026 Named among Named America’s Climate Leaders Top Performer on Just by USA TODAY in 2026 100 Rankings by Just Capital in 2026 Rece
Slide 15: Glossary
Glossary 1H First Half GLP-1 Glucagon-Like Peptide-1 SFA Superficial Femoral Artery 2H Second Half IV Intravenous SM Specimen Management Shipping, Selling, General and APM Advanced Patient Monitoring k Thousand SSG&A Administrative B Billion M Million SURG Surgery Transjugular Intrahepatic Portosyst
Slide 16: Supplemental Reconciliation – Revenues by Business Segments and Units
Supplemental Reconciliation – Revenues by Business Segments and Units For the Three Months Ended March 31, (Unaudited; $ in millions) (1) Effective October 1, 2025, the Company reorganized its organizational units into five distinct, separately-managed segments, which were based on the nature of the
Slide 17: Supplemental Revenue Information – Revenues by Geographic Regions
Supplemental Revenue Information – Revenues by Geographic Regions For the Three Months Ended March 31, (Unaudited; $ in millions) D=(A-B)/B E=(A-B-C)/B A B C % Change 2026 2025 FX Impact Reported FXN DEVELOPED MARKETS REVENUES $ 4,121 $ 3,933 $ 90 4.8 2.5 EMERGING MARKETS REVENUES 592 547 26 8.3 3.5
Slide 18: Supplemental Reconciliation – Reported Diluted EPS to Adjusted Diluted EPS
Supplemental Reconciliation – Reported Diluted EPS to Adjusted Diluted EPS For the Three Months Ended March 31, (Unaudited) (1) Includes amortization and other adjustments related to the purchase accounting for acquisitions. (2) Represents costs associated with integration and restructuring activiti
Slide 19: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation For the Three Months Ended March 31, 2026 (Unaudited; $ in millions, except per share data) Purchase Product, Income tax Notes for Non- Reported accounting Integration Restructuring Impacts of debt Separation- litigation, and benefit of Adjusted GAAP (GAAP) adjus
Slide 20: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation For the Three Months Ended March 31, 2025 (Unaudited; $ in millions, except per share data) Purchase Product, Income tax Notes for Non- Reported accounting Integration Restructuring litigation, and benefit of Adjusted GAAP (GAAP) adjustments costs costs other ite
Slide 21: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation Change in Three Months Ended March 31, 2026 Compared With Three Months Ended March 31, 2025 (Unaudited; $ in millions, except per share data) (A) (B) (C) = (A) - (B) (D) = (C) / (B) Adjusted Adjusted Adjusted Adjusted (Non-GAAP) (Non-GAAP) (Non-GAAP) (Non-GAAP) Q
Slide 22: Supplemental Reconciliation – Net Leverage and Free Cash Flow
Supplemental Reconciliation – Net Leverage and Free Cash Flow Last Twelve Months Ended March 31, 2026 For the Six Months Ended March 31, 2026 (Unaudited; Amounts in millions) (Unaudited; Amounts in millions) A B C=A-B D=C/B Reported GAAP Net Income from Continuing Operations $ 1,070 Adjusted for: 20
Slide 23: FY2026 Guidance Reconciliation
FY2026 Guidance Reconciliation (1) Includes amortization and other adjustments related to the purchase accounting for acquisitions. (2) Represents costs associated with integration and restructuring activities. (3) Represents transaction costs incurred in connection with the Advanced Patient Monitor
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