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Becton, Dickinson And Co. Raises FY22 Outlook Above Market View

While announcing weak first quarter results, medical technology company Becton, Dickinson and Co. (BDX) raised its fiscal 2022 adjusted earnings per share and revenue guidance.

The company now expects full-year adjusted earnings per share to be $12.80 to $13.00, including an incremental headwind of approximately $0.10 from foreign currency, compared to $12.30 to $12.50 expected previously.

Annual revenues are now expected to be in the range of $19.55 billion to $19.75 billion, which reflects an increase of approximately $250 million, compared to previously estimated around $19.3 billion to $19.5 billion.

On average, analysts polled by Thomson Reuters expect earnings of $12.42 per share on revenues of $19.43 billion for the year. Analysts' estimates typically exclude special items.

In fiscal 2021, earnings per share were $6.85, adjusted earnings per share were $13.08 and revenues were $20.25 billion.

The renewed revenue guidance now assumes base business currency-neutral revenue growth of 5.75 percent to 6.75 percent, compared to 5 percent to 6 percent previously announced.

The outlook also reflects around $450 million in COVID-19-only diagnostic testing revenues, which is an increase of $250 million compared to previous expectation.

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