BD earnings: November 5, 2026
BD's next results are expected on November 5, 2026. Watch Alaris remediation and its effect on sales and cash flow.
What has BD guided for FY2026?
Management’s August outlook calls for low single-digit FX-neutral revenue growth, meaning growth measured without exchange-rate changes. Its adjusted diluted EPS target excludes selected costs such as amortization and legal charges, while adjusted operating margin measures operating profit left from each sales dollar after those adjustments. A currency tailwind can lift reported sales even when underlying demand is unchanged. One basis point is one-hundredth of a percentage point, so basis points give a precise way to describe small margin movements.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| GAAP Revenue Growth | Year to Sep 2026 | Aug 6, 2026 | ||
| Revenue Growth (FXN) | Year to Sep 2026 | Aug 6, 2026 | ||
| Adjusted Diluted EPS | Year to Sep 2026 | 12.62 | 12.72 | Aug 6, 2026 |
| Adjusted Operating Margin | Year to Sep 2026 | 25.0% | 25.0% | Aug 6, 2026 |
| Adjusted ETR | Year to Sep 2026 | 16.0% | 17.0% | May 7, 2026 |
| Weighted shares outstanding (millions) | Year to Sep 2026 | 282 | 282 | Feb 9, 2026 |
What this means. The foreign currency adjustment estimates the effect of exchange rates on growth, so 100 basis points means one percentage point, not 100 percent.
What has BD's revenue and profit done recently?
Revenue rose from June 2025 to June 2026. Gross margin fell over the same comparison, and operating income also declined. Net income was unchanged, while diluted EPS increased. That divergence means financing, tax and share-count effects improved the per-share result even though operating profitability weakened.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,983 | 4,714 | 4,486 | 5,005 | 4,726 | 4,480 | 4,333 | 4,559 |
| Gross margin | 46.4% | 45.7% | 45.7% | 47.3% | 47.3% | 41.5% | 41.5% | |
| Operating income | 663 | 93 | 468 | 536 | 739 | 383 | 282 | |
| Net income | 451 | -37 | 311 | 346 | 451 | 158 | 147 | |
| EPS, diluted | 1.64 | -0.13 | 1.09 | 1.20 | 1.57 | 0.55 | 0.50 | |
| = Free cash flow | 633 | 925 |
What this means. The cash figures appear only for two quarters because the company did not provide enough information to calculate the other quarters.
What should you watch in BD's next results?
Alaris is BD’s infusion-pump system for delivering fluids and medicines in hospitals. Remediation means repairing, replacing or updating devices already in use. BD says U.S. pumps are being remediated or replaced with an updated cleared version, with the work expected to be substantially complete in calendar 2026. Completion should reduce execution risk, but management expects it to create about a 200-basis-point revenue-growth headwind in FY27 because replacement activity will no longer boost comparisons.
BD’s Q4 and FY26 results call on November 5 should put numbers around Alaris, tariffs, China and vaccines. Investors should also watch corrective actions, sterilization rules and related claims.