Shares of Becton, Dickinson, and Co. (BDX) are trading sliding more than 8 percent on Thursday morning trade after the company reported 62.5 percent decline in third-quarter profit, compared to the prior year.
Quarterly profit was $108 million, or $0.37 per share compared with $265 million or $0.93 per share in the prior year.
Wall Street analysts were looking for profit of $3.43 per share.
Looking ahead to the full year 2024, the company expects adjusted earnings in a range of $12.70 to $13 per share, up 4-6.5 percent.
The company further noted that, on a currency-neutral basis, adjusted earnings guidance represents growth of approximately 8.25 to 10.25 percent.
Revenue for the full year is projected to be in the range of approximately $20.1 billion to $20.3 billion, with organic revenue growth of 5.25 to 6.25 percent.
Street estimates were looking for $12.22 per share, on revenue of $19.3 billion.
Currently, shares are at $234.71, down 8.32 percent from the previous close of $255.92 on a volume of 1,624,415.
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