Record Revenue and EPS Growth
Q4 revenue reached $5.9 billion, an increase of 7%, with full-year revenue at a record $21.8 billion, up 7.7%. Adjusted diluted EPS for Q4 was $3.96 and $14.40 for the full year, representing 9.6% earnings growth.
Strong Growth in Key Segments
BD Interventional experienced high single-digit growth, driven by double-digit growth in PureWick and advanced tissue regeneration. Advanced Patient Monitoring grew double digits, performing well ahead of expectations.
Operational Efficiency and Margin Expansion
BD Excellence operating model drove strong P&L leverage, with adjusted gross margin up 140 basis points and adjusted operating margin expansion of 80 basis points. The company achieved a record 25% adjusted operating margin.
Strategic Initiatives to Drive Growth
BD announced initiatives including a $200 million cost-out program and expanded commercial focus with a newly appointed Chief Revenue Officer. Investments are being made in high-growth areas such as tissue regeneration and connected care.
Waters Transaction Progress
The combination of Biosciences and Diagnostic Systems with Waters is on track, with FTC clearance received and expected to close by the end of Q1 2026, unlocking significant shareholder value.