Becton, Dickinson And Company · NYSE:BDX
Becton, Dickinson And — Q3 2025 Earnings Presentation
24 slides from Becton, Dickinson And's earnings presentation, Aug 7, 2025
Slide 1: Q3 FY25 Earnings Presentation
Q3 FY25 Earnings Presentation August 7, 2025 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 and adjusted revenue year-over-year change comparisons are on an FXN basis unless otherwise noted. Organic Revenue growth deno
Slide 4: Q3 FY25 Key Highlights
Q3 FY25 Key Highlights Announced value creating transaction combining Biosciences and Diagnostic Solutions business with Waters Corp. through tax-efficient Reverse Morris Trust Strong momentum in new product launches and milestones in high-growth end markets, as investment decisions made at star
Slide 5: Innovating in high-impact areas at the forefront of healthcare's biggest growth trends
Innovating in high-impact areas at the forefront of healthcare’s biggest growth trends Transforming the efficiency and safety Reducing the likelihood of Expanding insights using high- of insertion and reducing risk of incisional hernia when used throughput cell imaging and analysis serious complicat
Slide 6: Q3 FY25 Consolidated Performance Summary
Q3 FY25 Consolidated Performance Summary Revenue Adj. Operating Margin Adj. Diluted EPS Operating Cash Flow $5.5B 25.8% $3.68 $2.1B +8.5% adj. FXN +60 bps YoY +5.1% YoY YTD +3.0% Organic Revenue by segment Revenue by geography BD Life Sciences United States $1,254M 58% BD Medical (1.1%) FXN $2,927M
Slide 7: Q3 FY25 Segment Revenue and Key Highlights
Q3 FY25 Segment Revenue and Key Highlights BD Medical BD Life Sciences BD Interventional DS MDS $425M $1,132M SURG PI MMS (1.8%) FXN $395M $512M +0.7% FXN $2,927M $888M SM $1,254M +4.6% FXN $1,328M +4.5% FXN +14.0% FXN +5.3% FXN $470M (1.1%) FXN +6.8% FXN +3.2% Organic +0.6% FXN APM BDB PS $358M UCC
Slide 8: Q3 FY25 Adjusted Income Statement
Q3 FY25 Adjusted Income Statement (As adjusted) $ in millions, except per share data Q3 FY25 Q3 FY24 Y/Y ∆ Adj. Revenues $5,509 $5,057 8.9%* Organic revenue growth 3.0% Gross Profit $3,019 $2,745 10.0% Gross margin 54.8% 54.3% 50 bps SSG&A $1,298 $1,191 9.0% % of revenues 23.6% 23.6% 0 bps R&D $295
Slide 9: Q3 FY25 YTD Free Cash Flow
Q3 FY25 YTD Free Cash Flow • Free Cash Flow increased $1B sequentially, reflecting benefits from working capital initiatives partially offset -25% by the impact of tariffs • BD Excellence operating system continues to yield productivity gains, driving capex leverage $2,236 M • YoY free cash flow has
Slide 10: FY25 Guidance Summary
FY25 Guidance Summary August 7, 2025 May 1, 2025 Commentary Estimated Total Company Revenue ~$21.8B to $21.9B ~$21.8B to $21.9B • Segment growth expectations relative to BDX organic growth range: Medical Adjusted Revenue Growth (FXN) 7.8% to 8.3% 7.8% to 8.3% above, Life Sciences below and Organic R
Slide 11: Corporate Sustainability: Together We Advance
Corporate Sustainability: Together We Advance FY24 Corporate Sustainability Report highlights: • Surpassed Scope 1 & 2 Reduction Milestones for FY24 • 20% reduction of Scope 1 & 2 GHG emissions from 2019 baseline • Doubled number of sites that use green electric power & on-site renewables since FY19
Slide 12: Appendix
Appendix Q3 FY25 EARNINGS PRESENTATION AUGUST 7, 2025 12
Slide 13: BD Interventional innovation pipeline
Our innovation pipeline - Over 100 new product launches expected by FY25(1) Recent innovation driving growth Near and mid-term catalysts Select pipeline products BD Medical BD Alaris HemoSphere Alta Swan IQ and Site-Rite 9 BD neXus BD Libertas 5mL CentroVena One BD Pyxis BD Evolve Next Gen PFS Next-
Slide 14: Glossary
Glossary Adj. Adjusted HPV Human Papillomavirus RVP Respiratory Viral Panel AI Artificial Intelligence HT High Throughput SEC Securities and Exchange Commission Identification & Antibiotic Susceptibility APM Advanced Patient Monitoring ID/AST SM Specimen Management Testing Shipping, Selling, General
Slide 15: Supplemental Reconciliation – Revenues by Business Segments and Units
Supplemental Reconciliation – Revenues by Business Segments and Units For the Three Months Ended June 30, (Unaudited; $ in millions) (1) Reflects Advanced Patient Monitoring Revenue for the period April 1, 2024 through June 30, 2024, giving effect as if Advanced Patient Monitoring had been acquired
Slide 16: Supplemental Reconciliation – Reported Geographic Revenue to Adjusted Revenue
Supplemental Reconciliation – Reported Geographic Revenue to Adjusted Revenue For the Three Months Ended June 30, (Unaudited; $ in millions) (1) Represents the recognition of accruals relating to the Italian government medical device pay back legislation, as well as another legal matter, and which s
Slide 17: Supplemental Reconciliation – Reported Revenue to Organic Revenue
Supplemental Reconciliation – Reported Revenue to Organic Revenue For the Three Months Ended June 30, (Unaudited; $ in millions) "NM" denotes that the percentage change is not meaningful. (1) Represents the recognition of accruals relating to the Italian government medical device pay back legislatio
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 June 30, (Unaudited) (1) Includes amortization and other adjustments related to the purchase accounting for acquisitions. (2) Represents costs associated with integration and restructuring activitie
Slide 19: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation For the Three Months Ended June 30, 2025 (Unaudited; $ in millions, except per share data) (1) Refers to footnotes on slide 18. Q3 FY25 EARNINGS PRESENTATION AUGUST 7, 2025 19
Slide 20: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation For the Three Months Ended June 30, 2024 (Unaudited; $ in millions, except per share data) (1) Refers to footnotes on slide 18. Q3 FY25 EARNINGS PRESENTATION AUGUST 7, 2025 20
Slide 21: Supplemental Non-GAAP Reconciliation
Supplemental Non-GAAP Reconciliation Change in Three Months Ended June 30, 2025 Compared With Three Months Ended June 30, 2024 (Unaudited; $ in millions, except per share data) Q3 FY25 EARNINGS PRESENTATION AUGUST 7, 2025 21
Slide 22: Supplemental Reconciliation – Net Leverage and Free Cash Flow
Supplemental Reconciliation – Net Leverage and Free Cash Flow Last Twelve Months Ended June 30, 2025 For the Nine Months Ended June 30, (Unaudited; Amounts in millions) (Unaudited; Amounts in millions) Note: Amounts may not add due to rounding. (1) Represents costs associated with integration and re
Slide 23: FY2025 Outlook Reconciliation
FY2025 Outlook Reconciliation Notes: - Revenue Adjustment Impact reflects the recognition of accruals resulting from developments relating to the Italian government medical device pay back legislation, as well as another legal matter, and which substantially relate to years prior to fiscal year 2024
Slide 24: FY2025 Outlook Reconciliation
FY2025 Outlook 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 and financing impacts associated with the Advanced Patien
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