BD completed the divestment of its Surgical Instrumentation platform to STERIS in the third quarter of 2023. Credit: Engin Akyurt from Pixabay.

Becton, Dickinson and Company (BD) has reported a net income of $407m in the third quarter (Q3) of 2023, a rise of 13% compared with $360m in the year-ago period.

For the quarter that ended on 30 June 2023, the company’s revenues were $4.8bn against $4.6bn in the same quarter last year, representing an increase of 5.1%.

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In the quarter, the company’s reported diluted earnings per share (EPS) stood at $1.36, while the adjusted EPS was at $2.96.

For nine months that ended on 30 June 2023, the company reported a net income of $1.37bn, a decline of 7.7% compared with $1.49bn in the prior year’s quarter.

Total revenues from continuing operations during this period were reported to be $14.2bn against $14.1bn in the prior year.

BD chairman, CEO and president Tom Polen said: “Our teams are working unwaveringly to achieve key milestones that set us up for continued growth and consistent performance.

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“We are very pleased to deliver our number one priority since launching BD 2025 – achieving 510(k) clearance for the updated BD Alaris Infusion System – allowing us to bring this updated system to our customers and their patients.”

Recently, BD concluded the divestment of its Surgical Instrumentation platform to Steris for $540m.

The company anticipates that its revenues for fiscal year 2023 will be roughly $19.3bn, in comparison to the previously stated range of $19.2bn to $19.3bn.

The projected adjusted diluted EPS for the company’s fiscal year 2023, ranging from $12.10 to $12.32, remains the same.

However, this outlook accounts for a $0.02 reduction due to the divestiture of the Surgical Instrumentation platform and a $0.05 decrease resulting from recent foreign currency rates.