BECTON DICKINSON & CO Earnings Summary — Q2 FY2026

• BD completed the spin-off of its Biosciences and Diagnostic Solutions business on February 9, 2026, combining it with Waters Corporation.
• GAAP results were significantly impacted by $450 million in non-cash asset impairment charges related to the 'Excellence Unleashed' strategy.
• Adjusted diluted EPS of $2.90 beat internal expectations, representing a 3.9% increase year-over-year despite a net loss on a GAAP basis.
• Total revenue growth of 5.2% (2.6% currency-neutral) was driven by Interventional (7.3%) and Connected Care (4.9%) segments.
• The company executed aggressive capital allocation, including a $2.0 billion share repurchase and $2.1 billion in debt retirement during the quarter.
• International revenues saw a 1.4% decline on a currency-neutral basis, while U.S. revenues grew steadily at 5.1%.

BD reaffirmed its full-year revenue growth guidance of 'Low single-digit plus' on a GAAP basis. Significantly, the company raised its full-year adjusted diluted EPS guidance to a range of $12.52 to $12.72, up from the previous range of $12.35 to $12.65.

Improving

Management's decision to raise full-year EPS guidance despite the complexity of the recent spin-off indicates strong confidence in the core 'New BD' business and operational efficiency gains.

The company is transitioning to a 'pure-play' medical technology profile, focusing on four segments: Medical Essentials, Connected Care, BioPharma Systems, and Interventional, with a strategic emphasis on high-growth platforms and margin expansion via the BD Excellence program.