Becton, Dickinson and Company
BDX - NYSE - $144.17 ▼ -%1.46
-
Earnings Thu 7 May
Note: this preview was published before the 2026-05-07 earnings report. Results have since been released — verify against the latest filings.

Becton opens the
books on Thursday evening.

6 analysts' median target is $168[FMP target], stock is $144, +16.5% upside potential. After Q1 +31.7% EPS beat[FMP earnings], the stock moved +5.3%.

↓ summary below
Quick Take - in 40 seconds
B+
BUY Council 1/6 - Moonshot 40

B+ = MoonshotScore 40[9-pillar formula] + Council 1/6[6-lens rule]. Form 4: 0 transactions[FMP Form 4].

Q4 consensus: revenue $4.7B[FMP est], EPS $2.77[FMP est]. 8 consecutive quarters of beat[FMP earnings].

Detailed analysis below ↓
$2.77 EPS Estimate Last year $3.96 - -17% YoY YoY
8 Beat Streak Expectations beaten consecutively for the last 8 quarters

Q1 EPS +31.7% beat[FMP] but the stock +5.3% D+1[FMP D+1]. Vitor Roach promised $108.0M CapEx + a sequential decline in Q4 during the Q1 earnings call[Vitor Roach capex transcript].

Watchlist

4 metrics stand out this quarter.

$12.35 Expectation / Guide

Fy26 Eps Guidance

fy26_eps_guidance

Becton, Dickinson and Company is establishing an adjusted EPS guidance for fiscal year 2026 in a range of $12.35 to $12.65, reflecting growth of approximately 6% at the midpoint, including an impact of 370 basis points from tariffs.

"Given these considerations, we are establishing an adjusted EPS guidance for new Becton, Dickinson and Company in a range of $12.35 to $12.65. This reflects growth of approximately 6% at the midpoint, including an impact of 370 basis points from tariffs."

- Vitor Roach, Senior Vice President and Interim Chief Financial Officer - Q1 FY26 Earnings Call - February 9, 2026
21.2% Risk Indicator

Operating Margin Decline

operating_margin_decline

Becton, Dickinson and Company's adjusted operating margin decreased to 21.2%, down 240 basis points due to the impact of tariffs and increased commercial investments in key growth areas.

"Adjusted operating margin of 21.2% was down 240 basis points versus the prior year due to the impact of tariffs and increased commercial investments in key growth areas."

- Vitor Roach, Senior Vice President and Interim Chief Financial Officer - Q1 FY26 Earnings Call - February 9, 2026
2.5% Investor Focus

New Bdx Growth

new_bdx_growth

New Becton, Dickinson and Company grew 2.5%, with broad-based growth across the markets where investments have been increased.

"New Becton, Dickinson and Company grew 2.5%, with broad-based growth across the markets where we have been doubling down on investments."

- Thomas E. Polen, Chairman, Chief Executive Officer, and President - Q1 FY26 Earnings Call - February 9, 2026
$2.91 Investor Focus

Eps Decline

eps_decline

Becton, Dickinson and Company's adjusted EPS decreased by 15.2% to $2.91, driven primarily by the impact of tariffs.

"Adjusted EPS of $2.91 was down 15.2% driven primarily by the impact of tariffs."

- Vitor Roach, Senior Vice President and Interim Chief Financial Officer - Q1 FY26 Earnings Call - February 9, 2026

Stock Expert AI - Methodology

Do our 9 pillars, 7 perspectives, and Munger lens point in the same direction?

MoonshotScore 40 / 100

9-pillar methodology. Cash Runway strong. Revenue Growth weak.

How is it calculated? ->
Revenue Growth0.0Q1 vs Q2: growth negative (-0.4%, contraction)
Gross Margin4.0Q1: average margin (44.6%)
Operating Leverage1.0op margin average (11.3%)
Cash Runway10.0FCF very strong ($0.5B, 5.1x CapEx)
R&D Intensity5.0average R&D (5.7%)
Price Momentum4.0RSI 30.5 weak momentum, 50d below
News Sentiment4.0mixed (40% buy)
Council Score 1 / 6 Bullish

6 investor frameworks. 1 bullish (Ray Dalio), 1 bearish (Ken Griffin), 4 neutral (Jim Simons, Klarman, Buffett, Munger).

How is it calculated? ->
Ray Dalio macro - target upside +16.5%
Ken Griffin flow - 50d MA below
Jim Simons quant - RSI 31
Klarman value - target upside +16.5%
Buffett quality - ROE score 3/5
Munger valuation - target upside +16.5%
Munger's Mindset character & balance sheet lens
Fairly Valued

Quality business, trading at fair value.

How is it calculated? ->
Financial HealthModerate
Margin of SafetyModerate
Interest CoverageAdequate
ROIC vs WACCTight
Technical Levels - Pre-earnings positioning

What levels is the stock being tested at?

RSI(14)
30.5 RSI 30.5 weak momentum, 50d below
MACD
-9.40 price below 50d - resistance dominant
50d MA
$159 stock 9.4% below - short-term resistance
200d MA
$141 stock 2.1% above - long-term support
Volume (10d)
+17% increase - pre-earnings positioning
Resistance
$168
Analyst median target - upgrade trigger if broken
Current
$144
Pre-earnings position
Support
$120
Invalidation - close below this is a technical breakdown
Pattern
Range
$120-$168 band - earnings breakout/breakdown trigger

Past Performance

Becton, beat expectations in the last 8 quarters.

BEAT
Q2 FY25
$3.35 vs $3.28 est - -0.4%
BEAT
Q3 FY25
$3.68 vs $3.40 est - +3.1%
BEAT
Q4 FY25
$3.96 vs $3.92 est - +0.3%
BEAT
Q1 FY26
$2.91 vs $2.21 est - +5.3%

Q1 (February 9, 2026): EPS $2.91 vs $2.21 est[FMP], +31.7% beat. D+1 movement: +5.3%[FMP D+1]. Decline despite beat - market reacted to guidance, not numbers.

Three scenarios: what could happen?

EPS < $2.69 (no guidance)

Q1: EPS $2.91 vs $2.21 beat[FMP], stock +5.3% D+1[FMP].

Backlog concentration

No RPO/backlog concentration disclosed in Q1 earnings call.

CapEx shock

Q1 CapEx $108.0M[FMP cashflow]. Q1 op margin 11.3%[FMP op margin] - this level in Q4 is sensitive to CapEx revision risk.

Framework - Position discipline

After the data arrives: 3 scenarios, 3 windows

Not advice - a structural framework for earnings night. Decision discipline is yours.

Scenario A - Beat
Q4 EPS > $2.77 + CapEx discipline
Threshold: EPS > $2.77[FMP est].
Target: Break above median target $168[FMP target]; high target $202[FMP] upper bound.
Scenario B - In-Line
EPS approx $2.77 + CapEx < $108.0M
Threshold: EPS approx $2.77[FMP est], Q4 CapEx < $108.0M[FMP].
Target: Consolidation in the band between current $144[FMP] and median $168[FMP].
Scenario C - Miss
EPS < $2.69 or CapEx >= $108.0M
Threshold: EPS < $2.69[FMP estx0.97].
Target: Current $144 below SMA200 $141[FMP], if rejection continues, $120[derived] support activates.
Sizing
Earnings volatility -> max portfolio 1-2%. Waiting for earnings is not a gamble, it's a position entrustment.
Timing
IV crush within 24 hours post-earnings. Waiting for premium decay makes options preferable to spot.
Staging
Don't go all-in at once, divide into 3: initial reaction, 24 hours later, after Friday's close.

Market Outlook

What do 6 analysts say?

Wall Street Consensus
$168
12-month median target price (+16.5% upside potential)
6
BUY
9
HOLD
0
SELL
Risk Management
$120
Invalidation level - critical support threshold
$159 - 50-day MA (below, -9.4%)
$141 - 200-day MA (above, +2.1%)
IV Crush risk (sudden drop in inflated option premiums before earnings): Option premiums are inflated before earnings.
Verdict - BDX Q4 FY26
B+

You read it in 5 minutes. When the numbers come out on Thursday evening - you know what you're looking at.

Data arrives at night. The framework is ready now.

Data arrives on Thursday evening. The framework is ready on this page: Q4 EPS threshold $2.77[FMP], CapEx threshold "below $108.0M"[Vitor Roach]. Two anchors, three scenarios.

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Educational tool, not investment advice. Past performance does not guarantee future results.

Calendar

Catalyst Calendar - 90-day forward look

May 7, 2026EARNINGSQ4 FY26 results (after market close) + earnings call
May 8, 2026PRICEFirst trading day after earnings - 200dMA test + IV crush
Jun 21, 2026FILING10-Q deadline - segment breakdown + RPO detail (SEC rule: quarter-end + 45 days)
~Aug 7, 2026EARNINGSQ1 FY27 (next quarter, date not yet scheduled in FMP)

DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.

Frequently Asked Questions

What does the BDX earnings preview cover?

This BDX (BDX) earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.

What should investors watch for in BDX earnings?

Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.