WASHINGTON (dpa-AFX) - Medical technology company Becton, Dickinson and Co. (BDX), while reporting higher third-quarter results, on Thursday maintaind fiscal 2023 earnings view, and raised base organic revenue growth guidance.
For the year, the company continues to expect adjusted earnings per share of $12.10 to $12.32.
On average, 16 analysts polled by Thomson Reuters expect earnings of $12.22 per share for the year. Analysts' estimates typically exclude special items.
The guidance now includes an estimated headwind from foreign currency of around 320 basis points based on current rates, compared to 270 basis points expected previously.
On a currency-neutral basis, the guidance now represents growth of around 10 percent to 11.5 percent, an increase of 50 basis points from the company's prior expectation.
Further, the company now expects fiscal year 2023 revenues to be approximately $19.3 billion, higher than previous estimate of $19.2 billion to $19.3 billion.
The Street is looking for revenues of $19.29 billion for the year.
Revenue guidance now assumes base business currency-neutral revenue growth of 6.8 percent to 7.1 percent before the impact of the Surgical Instrumentation platform divestiture. This reflects an increase of 25 basis points at the mid-point to 7.0 percent, driven by strong third quarter performance.
Base organic revenue growth is now expected to be 5.5 percent to 5.8 percent, compared to 5.25 percent to 5.75 percent expected earlier, and continues to reflect fourth quarter organic revenue growth of about 6 percent.
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