By Dean Seal


Becton Dickinson raised its fiscal 2024 guidance slightly after reporting higher revenue in the first quarter, largely from its medical and interventional businesses.

The medical-device maker posted a profit of $281 million, or 96 cents a share, in the quarter ended Dec. 31, compared with $509 million, or $1.70 a share, in the same period a year ago.

Adjusting for integration costs, restructuring costs and other one-time items, adjusted earnings were $2.68 a share. Analysts polled by FactSet had been expecting $2.40 a share.

Quarterly revenue rose to $4.71 billion from $4.59 billion last year, below analyst projections for $4.73 billion, according to FactSet.

Sales in the U.S. ticked up less than 1% to $2.75 billion while international sales jumped 5.5% to $1.96 billion.

The Franklin Lakes, N.J.-based company's medical unit recorded 3.5% higher revenue at $2.23 billion. Sales in its life-sciences segment ticked down 1% to $1.29 billion while its interventional business logged 2.6% higher revenue at $1.19 billion.

Becton Dickinson is expecting revenue to rise 5.5% to 6.25% on an organic basis and 4.75% to 5.5% on a currency-neutral basis in fiscal 2024, adding a quarter of a percentage point to the low-end of its prior guidance.

The company is also expecting annual adjusted earnings to come in at $12.82 to $13.06 a share, up from a previous outlook for $12.70 to $13 a share.


Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

02-01-24 0704ET