Becton Dickinson Co (BDX) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, September 30, 2020

Earnings Press Release
10-K Annual Report
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Becton Dickinson Co
Ticker: BDX CIK: 10795

Exhibit 99.1

1 Becton Drive

Franklin Lakes, NJ 07417

www.bd.com

Contact:

Kristen M. Stewart, CFA, Strategy & Investor Relations - 201-847-5378

Kristen Cardillo, Corporate Communications - 201-847-5657

BD ANNOUNCES FISCAL FOURTH QUARTER AND FULL YEAR 2020 RESULTS; PROVIDES FISCAL 2021 GUIDANCE

•Fiscal fourth quarter revenues of $4.784 billion grew 4.4% on a reported and currency-neutral basis.

•BD’s COVID-19 testing sales totaled more than $440 million in the fourth fiscal quarter.

•Fiscal fourth quarter GAAP EPS were $0.36. Non-GAAP EPS were $2.79.

Franklin Lakes, NJ (November 5, 2020)

- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $4.784 billion for the fourth fiscal quarter ended September 30, 2020. This represents an increase of 4.4% over the prior-year period on both a reported and currency-neutral basis.

“I’m extremely proud of the team for their execution this quarter, as we delivered sequential improvement across each of our segments and successfully launched our Veritor SARS-CoV-2 assay. Collectively, we drove mid-single-digit revenue growth, building on the strength of our COVID-19 diagnostics revenues to overcome headwinds from both COVID-19 and Alaris,” said Tom Polen, CEO and president of BD. “Looking to fiscal 2021, BD remains focused on partnering with governments, health care systems, and health care professionals to navigate the COVID-19 pandemic, ensure access to rapid diagnostics and enable care for patients around the world. We are aligned on our priorities and steadfast in our commitments, including completing our Alaris 510(k) submission, investing in innovation and strategic growth initiatives, simplifying our processes and empowering our organization.”

Fiscal Fourth Quarter 2020 Operating Results

As reported, diluted earnings per share for the fiscal fourth quarter were $0.36, compared with $0.45 in the prior-year period, which represents a decrease of 20.0%. Adjusted diluted earnings per share were $2.79, compared with $3.31 in the prior-year period, which represents a decrease of 15.7%, or 15.1% on a currency-neutral basis.

Segment Results

In the BD Medical segment, worldwide revenues for the fiscal fourth quarter of $2.318 billion decreased 4.9% from the prior-year period on both a reported and currency-neutral basis. The segment's results reflect the BD AlarisTM System remediation in the Medication Management Solutions unit and the impact of COVID-19 across the segment. The impact of COVID-19 is primarily reflected in the Medication Delivery Solutions, Diabetes Care and Medication Management Solutions units. These were partially offset by continued strong performance in the Pharmaceutical Systems unit. Within the Medication Delivery Solutions unit, the recovery in hospital admission rates and non-acute procedure volumes improved sequentially from the fiscal third quarter but remained below pre-COVID levels in the fiscal fourth quarter.

The following information was filed by Becton Dickinson Co (BDX) on Thursday, November 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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