Jun 2026 (Q3 FY26) — Aug 6, 2026
Becton, Dickinson and Company Q3 FY26 — Strong Growth Platforms Drive Beat and Raise
Read the full callBecton, Dickinson and Company (BDX) earnings
- Jun 2026
- Jun 2026 (Q3 FY26)
- Sep 2025
Becton, Dickinson and Company earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 4,983 | +5.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.3 | −2.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 377 | −34.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
16 of 24 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted diluted EPS | $14.75 to $15.05 | Sep 2025 | Given our Q3 performance and continued productivity to BD excellence, we are increasing the midpoint of our adjusted EPS guidance and updating our range to $12.62 to $12.72. | Revised Up |
| Adjusted effective tax rate | 14% to 15% | Sep 2025 | Our adjusted effective tax rate is expected to remain between 16% and 17%. | On Track |
| Adjusted EPS | $2.72 to $2.82 | Dec 2025 | We delivered adjusted operating margin of 24.2% and adjusted EPS of $2.90, reflecting strong operational execution through BD Excellence and the high quality of our revenue performance. | Achieved |
8 of BECTON DICKINSON & CO's 52 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 49 more targets are in the full ledger.
Claimed
- Revenue of $5 billion, up 4.4% FX-neutral, exceeding expectations.
- Adjusted EPS of $3.23, up 4.9%, ahead of expectations.
- Over 90% of portfolio delivered high single-digit growth, with several growth platforms achieving double-digit growth.
- Free cash flow increased 45% year-to-date to $1.7 billion.
- Approximately 100 agreements signed across novel and biosimilar GLP-1 programs, driving double-digit growth in biologics.
Qualified
- Adjusted operating margin down 130 basis points year-over-year to 24.9%, impacted by 110 basis points of tariff costs.
- Alaris capital comparison created a 100 basis point headwind to revenue growth in Q3 FY26, expected to be 200 basis points in Q4 FY26 and FY27.
- Continued pressure from vaccines and China market dynamics partially offset growth.
Price
$190.74 −0.53% · −$1.01
Performance +28.3% 1Y
1Y: $148.66 on 17 Oct 2025 → $190.74. High $193.76 (15 Oct 2026), low $138.67 (5 Nov 2025).
- Previous close
- $191.75
- 52-week range
- $138.67 – $193.76
- One year
- +27.02%
Overview
- Symbol
- BDX
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
16 of 24 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted diluted EPS | $14.75 to $15.05 | Sep 2025 | Given our Q3 performance and continued productivity to BD excellence, we are increasing the midpoint of our adjusted EPS guidance and updating our range to $12.62 to $12.72. | Revised Up |
| Adjusted effective tax rate | 14% to 15% | Sep 2025 | Our adjusted effective tax rate is expected to remain between 16% and 17%. | On Track |
| Adjusted EPS | $2.72 to $2.82 | Dec 2025 | We delivered adjusted operating margin of 24.2% and adjusted EPS of $2.90, reflecting strong operational execution through BD Excellence and the high quality of our revenue performance. | Achieved |
Claimed
- Revenue of $5 billion, up 4.4% FX-neutral, exceeding expectations.
- Adjusted EPS of $3.23, up 4.9%, ahead of expectations.
- Over 90% of portfolio delivered high single-digit growth, with several growth platforms achieving double-digit growth.
- Free cash flow increased 45% year-to-date to $1.7 billion.
- Approximately 100 agreements signed across novel and biosimilar GLP-1 programs, driving double-digit growth in biologics.
Qualified
- Adjusted operating margin down 130 basis points year-over-year to 24.9%, impacted by 110 basis points of tariff costs.
- Alaris capital comparison created a 100 basis point headwind to revenue growth in Q3 FY26, expected to be 200 basis points in Q4 FY26 and FY27.
- Continued pressure from vaccines and China market dynamics partially offset growth.
The full ledger
Open BECTON DICKINSON & CO’s full ledger
A free account opens 5 company ledgers a month. All 52 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q2 FY26) — May 7, 2026
Becton Dickinson Q2 FY26 — broad-based platform growth funds an EPS raise despite tariffs and a warning-letter ship hold
Read the full callDec 2025 (Q1 FY26) — Feb 9, 2026
Becton, Dickinson and Company Q1 FY26 — Strong Start to New BD Era with Waters Transaction Close
Read the full callEvery analysed call
Becton, Dickinson and Company earnings calls (BDX)
Financials
What the filings say
Net profit, year on year: −34% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 5,437 | 5,168 | 4,480 | 4,726 | 5,891 | 5,252 | 4,714 | 4,983 |
| Expenses | 4,814 | 4,715 | 4,097 | 3,986 | 5,194 | 4,700 | 4,620 | 4,320 |
| Operating profit | 622 | 453 | 383 | 739 | 698 | 552 | 93 | 663 |
| Operating margin | 11.4% | 8.8% | 8.6% | 15.6% | 11.8% | 10.5% | 2.0% | 13.3% |
| Interest | 155 | 155 | 150 | 152 | 155 | 153 | 149 | 132 |
| Profit before tax | 513 | 306 | 201 | 569 | 509 | 393 | 39 | 554 |
| Tax rate | 22.2% | 1.0% | 21.4% | 20.7% | 3.1% | 2.8% | 194.9% | 18.4% |
| Net profit | 400 | 303 | 308 | 574 | 493 | 382 | -311 | 377 |
| EPS ($ per share) | — | 1.05 | 1.07 | 2 | — | 1.34 | -1.11 | 1.37 |
| Line item | Sep 2018 | Sep 2019 | Sep 2020 | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 347 | 347 | 365 | 365 | 365 | 371 | 371 | 371 |
| Reserves | 12,596 | 12,913 | 12,791 | 13,826 | 15,157 | 15,535 | 16,139 | 16,622 |
| Total liabilities | 32,910 | 30,684 | 30,247 | 30,189 | 27,652 | 26,984 | 31,396 | 29,935 |
| Fixed assets | 5,375 | 5,659 | 5,923 | 6,003 | 6,012 | 6,557 | 6,821 | 6,383 |
| Total assets | 53,904 | 51,765 | 54,012 | 53,866 | 52,934 | 52,780 | 57,286 | 55,325 |
| Line item | Sep 2018 | Sep 2019 | Sep 2020 | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,865 | 3,330 | 3,539 | 4,647 | 2,471 | 2,990 | 3,844 | 3,430 |
| Cash from investing | -15,733 | -741 | -1,232 | -1,880 | — | -716 | -5,514 | -818 |
| Cash from financing | -58 | -3,223 | 22 | -3,306 | — | -1,956 | 2,087 | -3,617 |
| Net cash flow | -12,943 | -646 | 2,326 | -525 | -1,233 | 322 | 375 | -1,005 |
| Capital expenditure | -895 | -957 | -769 | -1,194 | -973 | -874 | -725 | -760 |
| Free cash flow | 1,970 | 2,373 | 2,770 | 3,453 | 1,498 | 2,116 | 3,119 | 2,670 |
BDX revenue by segment
Interventional grew from 24% to 28% of revenue over the last two years.
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Medical Essentials | — | — | — | — | — | 30% | 35% | 34% | — |
| Interventional | 25% | 24% | 24% | 24% | 23% | 25% | 29% | 28% | +6.5% |
| Connected Care | — | — | — | — | — | 22% | 24% | 25% | — |
| Bio Pharma Systems | — | — | — | — | — | 8% | 13% | 13% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q3 FY2026 · share of revenue
- US 62% ↑ 4 pt
- Non Us 38% ↓ 4 pt
As BDX cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
78 filings between Oct 27, 2025 and Sep 28, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$2.78M
22 sales by 5 insiders
86% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 36
- Award — granted as compensation
- 3
- Option exercise — converted options into shares
- 14
- Tax withheld — shares kept back by the company to cover tax
Also filed: 3 dispositions to the issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Polen Thomas E Jr | — | $1.17M | Aug 13, 2026 |
| Garrison Michael David | — | $784.2K | Jun 24, 2026 |
| Goette Roland | — | $440.9K | Aug 11, 2026 |
| SCOTT BERTRAM L | — | $212.3K | Feb 18, 2026 |
| Feld Michael | — | $170.8K | Sep 28, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 28, 2026 | Feld Michael EVP, Chief Revenue Officer | Sale 10b5-1 plan | 76 | $14.0K |
| Sep 2, 2026 | Roque Vitor EVP & Chief Financial Officer | Tax withheld | 190 | $0 |
| Aug 26, 2026 | Feld Michael EVP, Chief Revenue Officer | Sale 10b5-1 plan | 165 | $31.1K |
| Aug 20, 2026 | Feld Michael EVP, Chief Revenue Officer | Tax withheld | 1,049 | $0 |
| Aug 13, 2026 | Polen Thomas E Jr Chairman, CEO and President | Disposition to issuer 10b5-1 plan | 39,126 | $7.24M |
| Aug 13, 2026 | Polen Thomas E Jr Chairman, CEO and President | Sale 10b5-1 plan | 4,152 | $768.1K |
| Aug 13, 2026 | Polen Thomas E Jr Chairman, CEO and President | Option exercise 10b5-1 plan | 43,278 | $7.24M |
| Aug 11, 2026 | Goette Roland EVP and President, EMEA | Sale | 2,438 | $440.9K |
| Jul 27, 2026 | Feld Michael EVP, Chief Revenue Officer | Sale 10b5-1 plan | 75 | $11.8K |
| Jul 2, 2026 | Muhsin Bilal EVP & President Connected Care | Tax withheld | 1,935 | $0 |
| Jul 1, 2026 | Muhsin Bilal EVP & President Connected Care | Award | 14,342 | $0 |
| Jun 26, 2026 | Feld Michael EVP, Chief Revenue Officer | Sale 10b5-1 plan | 75 | $11.5K |
| Jun 24, 2026 | Garrison Michael David EVP & Pres Med.Essntl&BioPharm | Sale 10b5-1 plan | 1,100 | $160.2K |
| Jun 10, 2026 | Garrison Michael David EVP & Pres Med.Essntl&BioPharm | Sale 10b5-1 plan | 1,100 | $166.6K |
| Jun 1, 2026 | Polen Thomas E Jr Chairman, CEO and President | Sale 10b5-1 plan | 2,764 | $404.5K |
| Jun 1, 2026 | Polen Thomas E Jr Chairman, CEO and President | Disposition to issuer 10b5-1 plan | 17,445 | $2.55M |
| Jun 1, 2026 | Polen Thomas E Jr Chairman, CEO and President | Option exercise 10b5-1 plan | 20,209 | $2.55M |
| Jun 1, 2026 | Menziuso Peter EVP and President, BDI | Award | 14,258 | $0 |
| May 26, 2026 | Feld Michael EVP, Chief Revenue Officer | Sale 10b5-1 plan | 75 | $11.1K |
| May 7, 2026 | Roque Vitor EVP & Chief Financial Officer | Award | 1,721 | $0 |
| Apr 27, 2026 | Feld Michael EVP, Chief Revenue Officer | Sale 10b5-1 plan | 74 | $11.2K |
| Apr 6, 2026 | Neal Shana Carol EVP and Chief People Officer | Tax withheld | 1,146 | $0 |
| Mar 26, 2026 | Feld Michael EVP, Chief Revenue Officer | Sale 10b5-1 plan | 75 | $11.8K |
| Mar 16, 2026 | Minnix Lanesha EVP and General Counsel | Award | 7,492 | $0 |
| Mar 2, 2026 | Spikner Pamela L. SVP Controller & CAO | Award | 931 | $0 |
| Mar 2, 2026 | Roque Vitor Interim CFO | Award | 931 | $0 |
| Feb 26, 2026 | Feld Michael EVP, Chief Revenue Officer | Sale 10b5-1 plan | 75 | $13.6K |
| Feb 18, 2026 | SCOTT BERTRAM L Director | Sale | 953 | $174.0K |
| Jan 27, 2026 | Huffines Robert Luther Director | Award | 1,098 | $0 |
| Jan 27, 2026 | Jones Christopher Ian Montague Director | Award | 1,098 | $0 |
| Jan 27, 2026 | RING TIMOTHY M Director | Award | 1,098 | $0 |
| Jan 27, 2026 | SCOTT BERTRAM L Director | Award | 1,098 | $0 |
| Jan 27, 2026 | Waldstreicher Joanne Director | Award | 1,098 | $0 |
| Jan 27, 2026 | Brown William M Director | Award | 1,098 | $0 |
| Jan 27, 2026 | Henderson Jeffrey William Director | Award | 1,098 | $0 |
| Jan 27, 2026 | Wright Jacqueline Director | Award | 1,098 | $0 |
| Jan 27, 2026 | ECKERT R ANDREW Director | Award | 1,098 | $0 |
| Jan 27, 2026 | HAYES GREGORY Director | Award | 1,098 | $0 |
| Jan 27, 2026 | Byington Carrie L Director | Award | 1,098 | $0 |
| Jan 26, 2026 | Feld Michael EVP, CRO & Pres. Life Sciences | Sale 10b5-1 plan | 75 | $15.2K |
| Jan 21, 2026 | Spikner Pamela L. SVP Controller & CAO | Tax withheld | 84 | $0 |
| Jan 15, 2026 | Garrison Michael David EVP & Pres Med.Essntl&BioPharm | Option exercise 10b5-1 plan | 3,054 | $512.8K |
| Jan 15, 2026 | Garrison Michael David EVP & Pres Med.Essntl&BioPharm | Disposition to issuer 10b5-1 plan | 2,454 | $512.9K |
| Jan 15, 2026 | Garrison Michael David EVP & Pres Med.Essntl&BioPharm | Sale 10b5-1 plan | 1,010 | $208.6K |
| Jan 15, 2026 | Garrison Michael David EVP & Pres Med.Essntl&BioPharm | Sale 10b5-1 plan | 600 | $125.4K |
| Jan 3, 2026 | Shan David EVP and Chief ISC Officer | Tax withheld | 44 | $0 |
| Dec 26, 2025 | Feld Michael EVP, CRO & Pres. Life Sciences | Sale 10b5-1 plan | 74 | $14.5K |
| Dec 17, 2025 | Garrison Michael David EVP & Pres Med.Essntl&BioPharm | Sale 10b5-1 plan | 629 | $123.3K |
| Dec 1, 2025 | Feld Michael EVP, CRO & Pres. Life Sciences | Sale 10b5-1 plan | 75 | $14.5K |
| Dec 1, 2025 | Huffines Robert Luther Director | Award | 180 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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