Becton, Dickinson And Company · NYSE:BDX
Becton, Dickinson And — Q1 2026 Earnings Presentation
22 slides from Becton, Dickinson And's earnings presentation, Feb 9, 2026
Slide 1: Q1 FY26 Earnings Presentation
Q1 FY26 Earnings Presentation February 9, 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: Q1 FY26 Key Highlights
Q1 FY26 Key Highlights Expected to close the combination of our Biosciences and Diagnostic Solutions Revenue $5.3B business with Waters today; as part of the transaction, BD will receive a $4B cash +0.4% FXN distribution to be deployed near-term with $2B toward share repurchases via an ASR and $2B
Slide 5: Innovation Unlocking New Market Opportunities
Innovation Unlocking New Market Opportunities Transforming accessibility of continuous Enabling convenient delivery method for Reducing variability to support surgical noninvasive blood pressure monitoring rapid hemostasis outcomes and enabling preferred delivery method of the Surgiphor solution Hem
Slide 6: Q1 FY26 Segment Revenue and Key Highlights
Q1 FY26 Segment Revenue and Key Highlights Medical Essentials Connected Care BioPharma Systems Interventional Life Sciences $1,586 $1,595 $1,131 $429 $1,330 $836 $418 $1,257 $766 $1,073 (0.6%) +4.7% +1.0% +5.1% (10.5%) FXN FXN FXN FXN FXN Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY
Slide 7: Q1 FY26 Adjusted Income Statement
Q1 FY26 Adjusted Income Statement Estimated Q1 FY26 (As adjusted) impact of excl. BDB $ in millions, except per share data Q1 FY26 Q1 FY25 Y/Y ∆ / DS (2) Revenues $5,252 $5,168 1.6%(1) ~($766) FXN revenue growth 0.4% Gross Profit $2,804 $2,834 (1.1%) Gross margin 53.4% 54.8% (140 bps) ~+90 bps SSG&A
Slide 8: Q1 FY26 Free Cash Flow
Q1 FY26 Free Cash Flow • YoY free cash flow primarily impacted by the -6.8% timing of discrete cash payments • Cash flow initiatives driving improved free cash flow conversion (66% Q1 FY26 vs. 59% Q1 FY25) through working capital discipline and capital $588 M efficiency $548M • Net leverage of 2.9x,
Slide 9: FY26 New BD Guidance Summary
FY26 New BD Guidance Summary Guidance as of February 9, 2025 New BD Guidance Considerations • Expect Q2 revenue growth to be ~2% FXN Revenue Growth (FXN) Low single-digit growth • For the full year, expect ~120 bps FX tailwind on revenue(1) Adjusted Operating Margin ~25.0% • Expect Q2 adj. diluted E
Slide 10: Appendix
Appendix Q1 FY26 EARNINGS PRESENTATION FEBRUARY 9, 2026 10
Slide 11: Advancing a Stronger, More Focused Pipeline of High-Impact Solutions
Advancing a Stronger, More Focused Pipeline of High-Impact Solutions Recent innovation driving growth Near and mid-term catalysts Select pipeline products BD Pyxis BD Evolve SF 3DMax BD Dual Injection BD Alaris HemoSphere Alta Site-Rite 9 BD neXus BD Libertas 5mL CentroVena One MedBank 2.0 (BPS) (SU
Slide 12: Corporate Sustainability: Together We Advance
Corporate Sustainability: Together We Advance Named among America’s Greenest Companies by Newsweek in 2026 Named among America’s Greatest Workplaces for Culture, Belonging and Community by Newsweek in 2026 Q1 FY26 EARNINGS PRESENTATION FEBRUARY 9, 2026 12
Slide 13: Glossary
Glossary 1H First Half EU European Union R&D Research and Development Adj. Adjusted FCF Free Cash Flow SEC Securities and Exchange Commission AI Artificial Intelligence FX Foreign Exchange SM Specimen Management Shipping, Selling, General and APM Advanced Patient Monitoring FY Fiscal Year SSG&A Admi
Slide 14: Supplemental Reconciliation – Revenues by Business Segments and Units
Supplemental Reconciliation – Revenues by Business Segments and Units For the Three Months Ended December 31, (Unaudited; $ in millions) (1) Total New BD Revenue is inclusive of Total Revenues attributable to the Medical Essentials segment, Connected Care segment, BioPharma Systems segment, and Inte
Slide 15: Supplemental Revenue Information – Revenues by Geographic Regions
Supplemental Revenue Information – Revenues by Geographic Regions For the Three Months Ended December 31, (Unaudited; $ in millions) D=(A-B)/B E=(A-B-C)/B A B C % Change 2025 2024 FX Impact Reported FXN UNITED STATES REVENUES $ 3,159 $ 3,080 $ — 2.6 2.6 INTERNATIONAL REVENUES 2,093 2,089 62 0.2 (2.8
Slide 16: Supplemental Reconciliation – Reported Diluted EPS to Adjusted Diluted EPS
Supplemental Reconciliation – Reported Diluted EPS to Adjusted Diluted EPS For the Three Months Ended December 31, (Unaudited) (1) Includes amortization and other adjustments related to the purchase accounting for acquisitions. (2) Represents costs associated with integration and restructuring activ
Slide 17: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation For the Three Months Ended December 31, 2025 (Unaudited; $ in millions, except per share data) Purchase Product, Income tax Notes for Non- Reported accounting Integration Restructuring Separation- litigation, and benefit of Adjusted GAAP (GAAP) adjustments costs
Slide 18: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation For the Three Months Ended December 31, 2024 (Unaudited; $ in millions, except per share data) Purchase Product, Income tax Notes for Non- Reported accounting Integration Restructuring Transaction litigation, and benefit of Adjusted GAAP (GAAP) adjustments costs
Slide 19: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation Change in Three Months Ended December 31, 2025 Compared With Three Months Ended December 31, 2024 (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-G
Slide 20: Supplemental Reconciliation – Net Leverage and Free Cash Flow Conversion
Supplemental Reconciliation – Net Leverage and Free Cash Flow Conversion Last Twelve Months Ended December 31, 2025 For the Three Months Ended December 31, 2025 (Unaudited; Amounts in millions) (Unaudited; Amounts in millions) A B C=A-B D=C/B 2025 2024 Change % Change Net Cash Provided by Operating
Slide 21: FY2026 Outlook Reconciliation
FY2026 Outlook Reconciliation (1) Amount reflects the estimated impact to adjusted diluted earnings per share for fiscal year 2025 from the proposed disposition of the Biosciences and Diagnostic Solutions business that will be separated and combined with Waters Corporation. Actual impact to adjusted
Slide 22: Q2 Outlook Reconciliation
Q2 Outlook Reconciliation New BD (Post-Disposition of Biosciences and Diagnostic Solutions business) Q2 FY2025 Q2 FY2026 Outlook ($ in millions) % Change BDX Reported Revenues $ 5,272 Less: Life Sciences Segment Revenues 792 New BD Revenues $ 4,480 Q2 FY2026 Reported Revenue Growth ~4.5% Illustrativ
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