Key Highlights

  • Fourth-quarter Revenue reached $5.3 billion, up 5.4% as reported and 5.6% on a constant currency basis.
  • Fourth-quarter GAAP diluted EPS was $2.52, and adjusted diluted EPS was $4.15.
  • Full-year fiscal 2026 revenue reached $19.5 billion, up 4.9% as reported.
  • Full-year adjusted diluted EPS was $12.70, and GAAP diluted EPS was $5.06.

Becton, Dickinson and Company (NYSE:BDX), a global medical technology company, reported fiscal 2026 fourth-quarter and full-year results for the period ended September 30, 2026. Fourth-quarter revenue reached $5.3 billion, up 5.4% as reported. Chairman, chief executive and president Tom Polen said fiscal 2026 completed the company's transformation into a more focused medical technology Business with the separation of its Life Sciences unit.

Sector Context

Medical technology companies Supply devices, diagnostics and infusion and specimen-collection products to hospitals, laboratories and clinics. Demand is shaped by hospital budgets, procedure volumes, reimbursement rules and regulatory approvals. Because products are sold to health systems with long purchasing cycles, growth tends to be continuing rather than abrupt.

Companies in the sector frequently reshape their portfolios through divestitures and separations to focus on core areas. Those transactions can complicate year-over-year comparisons because reported figures reflect a changing set of businesses.

Quarterly Revenue and Earnings

Fourth-quarter revenue increased 5.4% as reported and 5.6% on a constant currency basis. The gap between the two measures indicates that currency movements reduced the reported growth rate slightly. Polen described broad-based performance led by the company's key growth platforms.

Fourth-quarter GAAP diluted EPS was $2.52, and adjusted diluted EPS was $4.15. The difference reflects items the company excludes from its adjusted measure, including costs related to portfolio changes made during the year.

Full-Year Results and Portfolio Change

Full-year fiscal 2026 revenue reached $19.5 billion, up 4.9% as reported and 3.9% on a constant currency basis. Full-year GAAP diluted EPS was $5.06, while adjusted diluted EPS was $12.70. The wide gap across the year shows how much the separation and related charges affected reported results.

The completed separation of Life Sciences changes the company's reported figures. Readers comparing fiscal 2026 with earlier years should note that the results describe a narrower, medical technology-focused business.

The full-year and quarterly figures show how much of the year's profit came from the final quarter. Fourth-quarter adjusted EPS of $4.15 equals about 33% of the full-year adjusted total of $12.70. The $7.64 per-share gap between full-year adjusted and GAAP EPS shows how much the separation and related items weighed on reported results.

Key Risks

Hospital spending pressures, reimbursement changes and supply chain disruptions could affect demand and costs. Currency movements can shift reported growth, as the gap between reported and constant currency results shows. Transition costs from the separation and the execution of a narrower strategy add uncertainty.

What to Watch Ahead

Investors will look to the fiscal 2027 outlook to judge how the company's growth platforms perform as a standalone medical technology business. Updates on the adjusted EPS trend, currency effects and the cost of portfolio changes will also help readers compare future quarters.