Becton, Dickinson and Company (BDX) CEO Tom Polen on Q2 2022 Results - Earnings Call Transcript

Becton, Dickinson and Company (NYSE:BDX) Q2 2022 Earnings Conference Call May 5, 2022 8:00 AM ET

Company Participants

Francesca DeMartino - SVP, IR

Tom Polen - President, CEO & Chairman

Christopher DelOrefice - EVP & CFO

Simon Campion - EVP & President, Interventional Segment

Conference Call Participants

Vijay Kumar - Evercore ISI

Travis Steed - Bank of America

Robbie Marcus - JPMorgan

Lawrence Biegelsen - Wells Fargo Securities

Rick Wise - Stifel

Operator

Hello, and welcome to BD's Earnings Call for the Second Quarter of Fiscal 2022.

At the request of BD, today's call is being recorded and will be available for replay through May 12, 2022, on BD's Investor Relations website at bd.com or by phone at 866-342-8591 for domestic calls and list the Area Code +1-203-518-9713 for international calls. The replay bridges are now dedicated, so you no longer need a conference ID to hear the replay. For today's call. All parties have been placed on a listen-only mode until the question-and-answer session.

I will now turn the call over to BD.

Francesca DeMartino

Good morning, and welcome to BD's earnings call. I'm Francesca DeMartino, Senior Vice President and Head of Investor Relations. On behalf of the BD team, thank you for joining us. This call is being made available via audio webcast at bd.com.

Earlier this morning, BD released its results for the second quarter of fiscal 2022. We also posted an earnings presentation that provides additional details on our performance. The press release and presentation can be accessed on the IR website at investors.bd.com.

Leading today's call are Tom Polen, BD's Chairman, Chief Executive Officer and President; and Chris DelOrefice, Executive Vice President and Chief Financial Officer. Tom will provide highlights of our performance and the continued execution of our BD2025 strategy. Chris will then provide a financial review and our updated outlook for fiscal 2022. The Q2 results, we'll be discussing today include the results of our former diabetes care business as a spin-off of embecta, that was completed on April 01, subsequent to quarter end. On April 14, an 8-K was filed to provide re-casted historical financial information reflecting the results of operations of our former diabetes care business as discontinued operations for the 2019, 2022 and 2021 fiscal years and the first quarter of fiscal 2022.

On today's call, we'll give an updated outlook for fiscal '22 for both legacy BD, which includes our former diabetes care business and BD RemainCo. We anticipate recasted financial information for the second quarter of FY '22 will be available by the end of May. In the meantime, to assist you with FY '22 RemainCo models, we're providing estimated impacts of excluding our former diabetes care business from our Q2 results. We don’t expect the Q2 recated financial information to differ material from the estimated impact nor affect the updated outlook for FY '22 that we're providing today. We also do not plan to comment on diabetes care after this quarter. In addition to our prepared remarks, you can find this information on our earnings presentation that is posted on our IR website.