Wall Street sat unimpressed today after Becton Dickinson (BD) released its Q423 financial results — which missed consensus forecasting — plummeting shares 9.2% in early morning trading. Analysts noted that the company’s profitability forecast for 2024 in research notes to investors was lower than anticipated.
The forecast for fiscal year 2024 reflected modest growth over 2023, with a projected range from $20.1 billion to $20.3 billion. Additionally, the company said that they expect earnings per share to range from $12.70 to $13.
This, according to J.P. Morgan analysts, came in “well below expectations” and was “disappointing to investors.”
“While we’ve been saying since the F3Q call that FY24 numbers need to move lower, we don’t think investors were expecting a sub-$13.00 guide,” J.P. Morgan analysts wrote, according to Investing.com. “The initial FY24 EPS…
