Becton Dickinson's Fiscal 2024 Outlook Falls Short of Wall Street View
By Will Feuer
Becton Dickinson's sales and adjusted earnings outlook for fiscal 2024 are below Wall Street analysts' expectations, dragged down by currency fluctuations and softening demand for Covid-19 testing.
The medical-device maker is targeting fiscal-year revenue of $20.1 billion to $20.3 billion, below the $20.35 billion that analysts surveyed by FactSet expected.
The company said it is targeting organic sales growth of 5.25% to 6.25%, including a more than 25-basis-points hit from the expected decline in Covid-19-only testing demand. Foreign-exchange rates are expected to reduce sales growth by about 75 basis points.
Becton Dickinson is targeting adjusted earnings for the year of $12.70 a share to $13.00 a share, below the $13.48 a share that analysts expected, according to FactSet.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
November 09, 2023 07:08 ET (12:08 GMT)
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