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Becton Dickinson fiscal Q1'18 profit up YOY

Becton Dickinson and Co. said its adjusted earnings per share for the fiscal first quarter ended Dec. 31, 2017, came to $2.48 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.41 per share.

Adjusted EPS rose 6.4% year over year from $2.33 in the comparable, year-ago fiscal quarter.

Revenues increased 3.7% on a currency-neutral basis to $3.08 billion from $2.92 billion.

On a GAAP basis, the healthcare equipment maker posted a loss of $174 million, or 76 cents per share, compared to an income of $562 million, or $2.58 per share, in the prior-year period.

The company said the loss was due to restructuring, transaction and financing costs associated with acquisitions and additional tax expense relating to new U.S. tax legislation.

Moving ahead, the company raised its guidance for fiscal 2018 based on the recent acquisition of C. R. Bard Inc.

For fiscal 2018, Becton Dickinson expects to target adjusted EPS in the range of $10.85 to $11.00, up from prior guidance range of $10.55 to $10.65.