Becton Dickinson 4Q Sales Fall as Covid-Test Demand Wanes

By Will Feuer

Becton Dickinson & Co. posted higher profit for the fiscal fourth quarter even as sales fell slightly, dragged down by fading demand for the company's Covid-19 test kits.

The medical-technology company said net income rose to $287 million, or 92 cents a share, from $265 million, or 84 cents a share, a year earlier.

Adjusted for one-time items such as litigation-related charges and restructuring costs, per-share earnings were $2.75. Analysts polled by FactSet had been expecting adjusted per-share earnings of $2.74.

The Franklin Lakes, N.J.-based company said revenue for the quarter ended Sept. 30 edged lower to $4.76 billion from $4.85 billion. Analysts had been expecting revenue of $4.71 billion, according to FactSet.

Stripping out estimated sales of Covid-19 diagnostic tools, revenue would have risen 4% for the quarter, the company said.

Write to Will Feuer at [e-mail]

(END) Dow Jones Newswires

11-10-22 0700ET