Becton, Dickinson and Company Reports 10.4% Revenue Growth in Q3 Fiscal Year 2025

Becton, Dickinson and Company (BD) reported a revenue increase of 10.4% for the third quarter of fiscal year 2025, reaching $5.509 billion, compared to $4.990 billion in the same period last year. The growth was driven by a combination of factors, including a 5.5% contribution from the recently acquired Advanced Patient Monitoring unit, alongside a 3.5% increase from volume and other factors. However, pricing pressures negatively impacted revenues by 0.5%, while foreign currency fluctuations contributed positively by 0.5%. Net income for the quarter was $574 million, or $2.00 per diluted share, compared to $487 million, or $1.68 per diluted share, in the prior year.

In comparison to the previous fiscal period, BD's financial performance showed notable changes. For the nine months ended June 30, 2025, total revenues increased to $15.949 billion from $14.741 billion, reflecting a 8.2% year-over-year growth. However, net income for the nine-month period decreased to $1.185 billion from $1.305 billion in the prior year, primarily due to increased operating expenses and integration costs associated with the Advanced Patient Monitoring acquisition. The company also reported a higher effective tax rate of 18.3% for the quarter, up from 2.6% in the same period last year.

Strategically, BD announced a definitive agreement on July 13, 2025, to combine its Biosciences and Diagnostic Solutions business with Waters Corporation. This transaction, structured as a Reverse Morris Trust, is expected to create a leader in life sciences and diagnostics, with BD shareholders retaining approximately 39.2% ownership of the combined entity. The deal is anticipated to close by the end of the first quarter of calendar year 2026, pending regulatory approvals and other customary conditions.

Operationally, BD's workforce remained stable, with 286,627,469 shares of common stock outstanding as of June 30, 2025. The company continues to focus on geographic expansion, particularly in emerging markets, which saw a revenue increase of 7.8% in the third quarter. The Medical segment, which includes the Advanced Patient Monitoring unit, reported a 14.4% revenue growth, driven by strong sales in various product lines. However, the Life Sciences segment experienced a slight decline in revenues, attributed to market dynamics affecting instrument sales.

Looking ahead, BD's management expressed optimism about sustaining growth through ongoing investments in research and development, strategic acquisitions, and operational efficiencies. However, they acknowledged potential challenges, including market dynamics in China, supply chain disruptions, and regulatory pressures. The company remains committed to navigating these uncertainties while executing its growth strategy, which emphasizes simplification and empowerment across its operations.