Raised FY26 adjusted EPS guidance to $12.62-$12.72
BD reported a strong Q3 FY2026, beating expectations on revenue, margin, and EPS, and raised its full-year guidance. The company highlighted broad-based momentum across its growth platforms, including double-digit growth in Biologics (GLP-1s), APM, and PureWick. Revenue grew 4.4% to $5B, with 90% of portfolio growing high-single-digits.
Buzzberg 분석Raised FY26 adjusted EPS guidance to $12.62-$12.72BD reported a strong Q3 FY2026, beating expectations on revenue, margin, and EPS, and raised its full-year guidance. The company highlighted broad-based momentum across its growth platforms, including double-digit growth in Biologics (GLP-1s), APM, and PureWick. Revenue grew 4.4% to $5B, with 90% of portfolio growing high-single-digits.전체 분석 보기분석 접기
BD reported a strong Q3 FY2026, beating expectations on revenue, margin, and EPS, and raised its full-year guidance. The company highlighted broad-based momentum across its growth platforms, including double-digit growth in Biologics (GLP-1s), APM, and PureWick. Revenue grew 4.4% to $5B, with 90% of portfolio growing high-single-digits.
Adjusted EPS was $3.23, up 4.9%.
FY26 EPS guidance raised to $12.62-$12.72.
FY27 revenue growth expected to be low single digits due to Alaris headwinds.
Revenue$4.983B
+6% QoQ
EPS$3.23
+11% QoQ
Gross margin46.46%
reported
Op margin13.31%
reported
이번 분기에 달라진 점
01
Guidance
Raised FY26 adjusted EPS guidance to $12.62-$12.72
Guidance · revenue to 3%
02
Demand
Growth platforms deliver double-digit growth
Demand is robust: growth platforms are scaling at high single-digit to double-digit, with double-digit growth in biologic drug delivery, advanced patient monitoring, PureWick, and advanced tissue regeneration. Utilization is solid, with U.S. MDS up 6% and strong specimen…
03
Guidance
Alaris remediation creates 200bps FY27 headwind
Guidance · revenue to 3%
04
Demand
GLP-1 agreements reach approximately 100
Demand is robust: growth platforms are scaling at high single-digit to double-digit, with double-digit growth in biologic drug delivery, advanced patient monitoring, PureWick, and advanced tissue regeneration. Utilization is solid, with U.S. MDS up 6% and strong specimen…
AI, 자본지출 및 수요 분석
AI
플랫폼 및 수익화
Management discussed deploying a standardized digital platform designed to run AI across BD's end-to-end supply chain, viewing it as a meaningful runway for productivity and service improvement. They also noted AI features in the Acumen IQ Plus finger cuff and beginning to deploy AI tools for sales reps.
수요
수주 및 전환
Demand is robust: growth platforms are scaling at high single-digit to double-digit, with double-digit growth in biologic drug delivery, advanced patient monitoring, PureWick, and advanced tissue regeneration. Utilization is solid, with U.S. MDS up 6% and strong specimen management growth. However, Q4 revenue growth will step down due to Alaris compare headwinds.
자본지출
투자 및 생산능력
Management highlighted capacity investments in drug delivery technologies supporting GLP-1 demand, and ongoing investments in commercial and R&D to support growth. They also mentioned investing in deploying a standardized digital platform for AI across the supply chain.
톤 · Confident
Management expressed strong confidence in growth momentum, raised guidance, and highlighted broad-based outperformance across growth platforms, while managing known headwinds as expected.
공급망 알파
A1
BD is taking share in specimen management by capitalizing on competitor backorders, driving high single-digit growth and a 14% U.S. increase.
“In specimen management, we delivered high single-digit growth driven by share gains across the BD evacutator portfolio, improved supply, and incremental demand as customers worked through competitor backorders.”
BD's customer demand for its Alaris infusion pumps is strong despite the prior year's remediation, with company pulling through sales of high-margin consumables.
“We also saw a strong infusion set performance due to higher utilization versus last year fluid supply disruption and pull through from Alaris share gains.”
BD has signed approximately 100 agreements for GLP-1 programs, with its new Vistra pen expected to have a higher value capture than traditional syringes.
“That demand is being supported by the capacity investments and innovative drug delivery technologies we've built over time... using our Vistra injection pen”