Shares in Becton Dickinson (NYSE: BDX) held steady today after the company beat expectations on Wall Street with its second-quarter results.
The Franklin Lakes, N.J.-based company swung to a net loss of -$50 million, or -19¢ per share, on sales of $4.22 billion for the 3 months ended March 31, up 42% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were $2.65, ahead of consensus on The Street, where analysts were looking for sales of $4.12 billion.
BD cited purchase accounting expenses related to acquisitions as the reason for its net loss in Q2. In April last year, the company inked a $24 billion deal to acquire C. R. Bard (NYSE:BCR).
“Our results this quarter mark a significant milestone in our 120-year history, as we welcomed C. R. Bard to BD,” chairman & CEO Vincent Forlenza said in prepared remarks. “We have strong momentum as we execute on the integration of Bard, and we are on track to deliver on all of our commitments. Together, BD and Bard will create even more impactful healthcare solutions for our customers and their patients around the world.”
BDX shares were trading at $229.30 apiece today in morning activity, down -0.4%.
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