Becton Dickinson and Co. expects a 35.1% rise in quarterly revenue totaling $4.16 billion for the first quarter of fiscal 2019.
The company also reaffirmed its fiscal 2019 revenue and adjusted EPS guidance in preliminary financial results issued Jan. 17. The Franklin Lakes, N.J.-based maker of needles and syringes said the potential increase in revenue was mainly because of the 2017 acquisition of C. R. Bard Inc.
Becton Dickinson also issued its preliminary guidance, noting that first-quarter adjusted EPS is expected to be greater than the prior-year period primarily due to the timing of certain tax items, as well as improved performance across all three of its business segments. Adjusted EPS is estimated to increase 8.9% to about $2.70, compared with $2.48 in the prior-year period.
EPS for the first quarter ended Dec. 31, 2018, is anticipated to rise 369.7% to about $2.05, compared to a loss of 76 cents during the first quarter of 2018.
The company also expects full fiscal year 2019 adjusted EPS to be between $12.05 and $12.15, which represents growth of about 10% over 2018.
Becton Dickinson in November 2018 said its fiscal 2019 profit forecast fell short of analyst expectations, primarily because of a rise in raw material prices and Chinese tariffs.
The company will hold a conference call to deliver full results Feb. 5.