Becton Dickinson Co. raised its fiscal 2017 earnings guidance after reporting $2.33 in adjusted earnings per share for the fiscal first quarter ended Dec. 31, 2016.
The result, an 18.9% increase year over year, compares to the S&P Capital IQ normalized EPS consensus estimate of $2.11.
Becton Dickinson will now target $9.70 to $9.80 in adjusted EPS on a currency-neutral basis, as opposed to $9.62 to $9.72 previously.
The company's GAAP net income rose to $562 million, or $2.58 per share, during the quarter from $229 million, or $1.06 per share, in the corresponding period of the previous fiscal year.
Fiscal first quarter revenues were down 2.1% year over year to $2.92 billion given the sale of the respiratory solutions business in October 2016, Becton Dickinson said.