Becton, Dickinson and Company (NYSE:BDX) Q3 2024 Earnings Conference Call August 1, 2024 8:00 AM ET

Company Participants

Greg Rodetis - Senior Vice President, Treasurer & Head of Investor Relations
Tom Polen - Chairman, Chief Executive Officer & President
Chris DelOrefice - Executive Vice President & Chief Financial Officer
Mike Garrison - President of the Medical Segment

Conference Call Participants

Robbie Marcus - JPMorgan
Travis Steed - Bank of America
David Roman - Goldman Sachs
Patrick Wood - Morgan Stanley
Larry Biegelsen - Wells Fargo
Rick Wise - Stifel
Vijay Kumar - Evercore ISI

Operator

Hello and welcome to BD's Third Quarter Fiscal 2024 Earnings Conference Call. At the request of BD, today's call is being recorded and will be available for replay on BD's Investor Relations website at investors.bd.com or by phone at 800-839-2385 for domestic calls and area code +1 402-220-7203 for international calls. For today's call, all parties have been placed in a listen-only mode until the question-and-answer session.

I will now turn the call over to Greg Rodetis, Senior Vice President, Treasurer and Head of Investor Relations. Please go ahead.

Greg Rodetis

Good morning and welcome to BD's earnings call. I'm Greg Rodetis, Senior Vice President, Treasurer and Head of Investor Relations. Thank you for joining us. This call is being made available via audio webcast at bd.com. Earlier this morning, BD releases results for the third quarter of fiscal 2024. 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. Following this morning's prepared remarks, Tom and Chris will be joined for Q&A by our segment presidents: Mike Garrison, President of the Medical segment; and Rick Byrd, President of the Interventional segment.

Before we get started, I want to remind you that we will be making forward-looking statements. You can read the disclaimer in our earnings release and the disclosures in our SEC filings available on the Investor Relations website. Unless otherwise specified, all comparisons will be on a year-over-year basis versus the relevant fiscal period. Revenue percentage changes are on an FX-neutral basis unless otherwise noted. Reconciliations between GAAP and non-GAAP measures are included in the appendices of the earnings release and presentation. Specifically, during the quarter, we recorded accruals resulting from recent developments relating primarily to the Italian government medical device payback legislation which essentially relates to years prior to the current fiscal year. We are presenting adjusted revenues, excluding the impact of these accruals.