FRANKLIN LAKES, N.J., Oct. 15, 2025 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE:BDX), a leading global medical technology company, announced today a transition plan under which Chris DelOrefice, executive vice president and chief financial officer (CFO), will depart the company effective Dec. 5, 2025, to pursue a new professional opportunity. The company is conducting a search to identify a permanent successor. Vitor Roque, senior vice president of finance, business units and corporate financial planning and analysis, has been named interim CFO and will assume the role effective upon DelOrefice's departure. Roque will work with DelOrefice and the company's leadership teams to facilitate a smooth transition.
"Chris has been an important part of our Executive Leadership Team over the past four years as we delivered on our BD 2025 strategy and transformed our portfolio to lead in the evolving healthcare landscape," said Tom Polen, chairman, CEO and president of BD. "As we transition, Vitor brings extensive knowledge of the company having served in a broad range of finance leadership roles over his two decades at BD across our regions, business units and segments while also supporting key acquisitions. His strong finance and leadership capabilities position him well to serve as interim CFO as we continue to deliver on our strategic goals."
Preliminary Revenue Results for Fourth Quarter and Full Year Fiscal 2025In conjunction with the transition announcement, the company is providing the following selected unaudited preliminary results for the fourth quarter and full year fiscal 2025 which ended Sept. 30, 2025:
Fourth quarter preliminary unaudited revenue of approximately $5.9 billion, which represents an estimated increase of approximately 8.3% on a reported basis, 7.0% on a currency-neutral basis and 3.9% on an organic basis.
Full year preliminary unaudited revenue of approximately $21.8 billion, which represents an estimated increase of approximately 8.2% on a reported basis, 7.7% on an adjusted currency-neutral basis and 2.9% on an organic basis.
Polen continued, "While we continue to navigate a dynamic macro environment that had a greater than anticipated impact this quarter in areas we have been closely monitoring, specifically Pharmaceutical Systems vaccines and Biosciences academic and government research, we delivered strong growth across multiple areas including the BD Interventional segment, Advanced Patient Monitoring and Medication Delivery Solutions. Looking ahead, we continue to execute on our strategy and are taking further action to unlock value, including investments in areas of opportunity to drive growth and continued margin momentum. I look forward to sharing more on our New BD strategy and expectations for fiscal 2026 on our upcoming earnings call."
Full Year Fiscal 2025 Adjusted Diluted Earnings Per Share OutlookThe company expects to deliver full year fiscal 2025 adjusted diluted earnings per share (EPS) at or above the midpoint of its previously issued guidance.
BD's adjusted diluted EPS for fiscal 2025 reflects numerous assumptions about many factors that could affect its business, based on the information management has reviewed as of this date. The company's expected adjusted diluted EPS for fiscal 2025 excludes potential charges or gains that may be recorded during the fiscal year, such as, among other things, the non-cash amortization of intangible assets, acquisition-related charges, separation-related costs, and certain tax matters. BD does not attempt to provide reconciliations of forward-looking adjusted diluted non-GAAP EPS guidance to the comparable GAAP measure because the impact and timing of these potential charges or gains are inherently uncertain and difficult to predict and are unavailable without unreasonable efforts. In addition, the company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a material impact on GAAP measures of BD's financial performance. BD believes that this adjustment allows investors to better evaluate BD's anticipated underlying earnings performance for our 2025 fiscal year in relation to our underlying 2024 fiscal year performance.
Conference Call and Presentation MaterialsAs previously announced, the company will host an audio webcast at 8 a.m. (ET) on Thursday, Nov. 6, 2025 to discuss its financial results for its fourth quarter and full year fiscal 2025, which ended on Sept. 30, 2025. The audio webcast can be accessed at BD's investor relations website at www.bd.com/investors. Prior to the call, the company will issue a news release and related presentation materials that will include summary financial information for the quarter and year. The news release and related presentation materials will be made available at www.bd.com/investors.
Non-GAAP Financial Measures/Financial TablesThis news release contains certain non-GAAP financial measures. These include preliminary revenue growth rates on a currency-neutral, adjusted and organic basis. These non-GAAP financial measures are not in accordance with generally accepted accounting principles in the United States. BD management believes that the use of non-GAAP measures to adjust for items that are considered by management to be outside of BD's underlying operational results or that affect period-to-period comparability helps investors to gain a better understanding of our performance year-over-year, to analyze underlying trends in our businesses, to analyze our operating results, and to understand future prospects. Management uses these non-GAAP financial measures to measure and forecast the company's performance, especially when comparing such results to previous periods or forecasts. We believe presenting such adjusted metrics provides investors with greater transparency to the information used by BD management for its operational decision-making and for comparison to other companies within the medical technology industry. Although BD's management believes non-GAAP results are useful in evaluating the performance of its business, its reliance on these measures is limited since items excluded from such measures may have a material impact on BD's net income, earnings per share or cash flows calculated in accordance with GAAP. Therefore, management typically uses non-GAAP results in conjunction with GAAP results to address these limitations. BD strongly encourages investors to review its consolidated financial statements and publicly filed reports in their entirety and cautions investors that the non-GAAP measures used by BD may differ from similar measures used by other companies, even when similar terms are used to identify such measures. Non-GAAP measures should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures.
We present adjusted revenues for the full year fiscal 2024 which excludes the recognition of accruals relating to the Italian government medical device pay back legislation, as well as another legal matter, and which substantially relate to years prior to fiscal year 2024, because we believe these items affect the comparability of the periods presented.
We also present preliminary revenue growth rates for the fourth quarter and full year fiscal 2025 over the corresponding prior periods on a currency-neutral basis after eliminating the effect of foreign currency translation, where applicable. We calculate foreign currency-neutral percentages by converting our current-period local currency financial results using the prior period foreign currency exchange rates and comparing these adjusted amounts to our current-period results. As exchange rates are an important factor in understanding period-to-period comparisons, we believe the presentation of results on a foreign currency-neutral basis in addition to reported results helps improve investors' ability to understand our operating results and evaluate our performance in comparison to the prior periods.
Organic Revenue growth denotes foreign currency-neutral revenues further adjusted for the impact to revenues from acquisitions and divestitures during the first 12 months post-acquisition/divestiture.
Reconciliations of these and other non-GAAP measures to the comparable GAAP measures are included in the attached financial tables. Within the attached financial tables presented, certain columns and rows may not add due to rounding. Percentages presented are calculated from the underlying amounts.
Preliminary Financial InformationThis news release also includes financial information that is presented as of Sept. 30, 2025, which is preliminary and has been prepared internally by management, and has not been audited, reviewed or compiled by our independent registered public accounting firm and is subject to change. BD's actual results remain subject to the completion of management's final review and other closing and audit procedures and may differ materially from such financial information included in this news release due to the completion of our ...
