Becton Dickinson & Co. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Becton Dickinson & Co. has filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>

AI Summary

BECTON DICKINSON & CO (BDX) filed a Quarterly Report (10-Q) with the SEC on February 1, 2024. Becton Dickinson & Co. filed its 10-Q report for the period ending December 31, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on September 30th. Becton Dickinson & Co. is incorporated in New Jersey. The company's SIC code is 3841 for Surgical & Medical Instruments & Apparatus.

Why It Matters

For investors and stakeholders tracking BECTON DICKINSON & CO, this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial data, including revenue, net income, and balance sheet information, crucial for assessing the company's current financial health and performance trends. Understanding the details within this filing allows stakeholders to evaluate Becton Dickinson's strategic positioning, operational efficiency, and potential risks and opportunities in the medical device and diagnostics market.

Risk Assessment

Risk Level: medium — BECTON DICKINSON & CO shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a snapshot of financial health but does not contain significant forward-looking statements or major strategic shifts that would indicate immediate high risk or reward.

Analyst Insight

Monitor future filings for updates on revenue growth, profitability, and any new product developments or regulatory changes impacting Becton Dickinson's market segments.

Key Numbers

• 2023-12-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-02-01 — Filing Date (FILED AS OF DATE)
• 0930 — Fiscal Year End (FISCAL YEAR END)
• 3841 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• BECTON DICKINSON & CO (company) — COMPANY CONFORMED NAME
• 0000010795 (company) — CENTRAL INDEX KEY
• 3841 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• NJ (company) — STATE OF INCORPORATION
• FRANKLIN LAKES (company) — CITY
• 2018476800 (company) — BUSINESS PHONE
• XNYS (company) — EXCHANGE
• 20231231 (date) — CONFORMED PERIOD OF REPORT

FAQ

Industry Context

Becton Dickinson & Co. operates in the medical technology industry, focusing on medical supplies, devices, laboratory equipment, and diagnostic products.

Regulatory Implications

As a publicly traded company, Becton Dickinson & Co. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Compare the reported Q1 2024 results against previous quarters and analyst expectations.
3. Analyze any disclosed risk factors or legal proceedings for potential impacts on future performance.

Key Dates

• 2023-12-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-02-01: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report (10-Q) for fiscal year 2024, following the company's fiscal year-end report (10-K) for 2023.

Key Financial Figures

• $1.00 B — ich Registered Common stock, par value $1.00 BDX New York Stock Exchange 1.900% Notes
• $1.00 — ere 288,902,232 shares of Common Stock, $1.00 par value, outstanding at December 31,

Filing Documents

• bdx-20231231.htm (10-Q) — 1024KB
• ex2212312023.htm (EX-22) — 3KB
• ex3112312023.htm (EX-31) — 19KB
• ex3212312023.htm (EX-32) — 8KB
• 0000010795-24-000019.txt (&nbsp;) — 5743KB
• bdx-20231231.xsd (EX-101.SCH) — 36KB
• bdx-20231231_cal.xml (EX-101.CAL) — 55KB
• bdx-20231231_def.xml (EX-101.DEF) — 164KB
• bdx-20231231_lab.xml (EX-101.LAB) — 525KB
• bdx-20231231_pre.xml (EX-101.PRE) — 314KB
• bdx-20231231_htm.xml (XML) — 922KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 34

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS BECTON, DICKINSON AND COMPANY CONDENSED CONSOLIDATED STATEMENTS OF INCOME Millions of dollars, except per share data (Unaudited) Three Months Ended December 31, 2023 2022 Revenues $ 4,706 $ 4,586 Cost of products sold 2,679 2,453 Selling and administrative expense 1,213 1,187 Research and development expense 290 313 Integration and restructuring expense 75 44 Other operating expense, net 11 3 Total Operating Costs and Expenses 4,267 4,001 Operating Income 439 585 Interest expense ( 111 ) ( 102 ) Interest income 34 6 Other expense, net ( 4 ) ( 8 ) Income Before Income Taxes 359 481 Income tax provision (benefit) 77 ( 28 ) Net Income 281 509 Preferred stock dividends — ( 23 ) Net income applicable to common shareholders $ 281 $ 486 Basic Earnings per Share $ 0.97 $ 1.71 Diluted Earnings per Share $ 0.96 $ 1.70 Dividends per Common Share $ 0.95 $ 0.91 Amounts may not add due to rounding. See notes to condensed consolidated financial statements 3 BECTON, DICKINSON AND COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Millions of dollars (Unaudited) Three Months Ended December 31, 2023 2022 Net Income $ 281 $ 509 Other Comprehensive Income (Loss), Net of Tax Foreign currency translation adjustments 40 ( 80 ) Defined benefit pension and postretirement plans 12 11 Cash flow hedges ( 18 ) ( 3 ) Other Comprehensive Income (Loss), Net of Tax 33 ( 72 ) Comprehensive Income $ 314 $ 437 Amounts may not add due to rounding. See notes to condensed consolidated financial statements 4 BECTON, DICKINSON AND COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS Millions of dollars, except per share amounts and numbers of shares December 31, 2023 September 30, 2023 Assets (Unaudited) Current Assets: Cash and equivalents $ 1,180 $ 1,416 Restricted cash 54 65 Short-term investments 2 8 Trade receivables, net 2,267 2,534 Inventories: Materials 776 714 Work in process 368 381 Finished

View Full Filing

View this 10-Q filing on SEC EDGAR