BD Becton Dickinson logoBD (NYSE: BDX) today reported fourth-quarter results that beat Wall Street expectations. However, its 2023 guidance is less than expected.

The Franklin Lakes, N.J.–based medtech giant earned $287 million, or 92¢ per share, off $4.76 billion in revenue during the quarter ended Sept. 30, 2022. The results represent a bottom-line gain of 8.6% on a top-line cut of 1.8%.

Adjusted to exclude one-time items, BD had an EPS of $2.75. That’s a penny ahead of The Street, where analysts expected EPS of $2.74 on revenue of $4.72 billion.

BD Life Sciences revenue was down 15.9% year-over-year to $1.29 billion in Q4 amid declines in COVID-19 testing revenue. BD Medical, however, was up 5.8% to $2.38 billion amid strong worldwide growth in catheters and vascular care sales.

BD Interventional was up 2.4% to $1.10 billion.

“Fiscal 2022 was another outstanding year with impactful results that confirm the effectiveness of our BD 2025 strategy,” BD CEO Tom Polen said in a news release.

“We delivered reliable, consistent performance that reflects our team’s unwavering commitment to our purpose and the execution of our growth plan – while navigating the challenging macro environment all companies are facing. Looking forward, our strong performance and momentum increases our confidence to continue to create substantial, sustained value for all stakeholders.”

BD expects fiscal year 2023 revenues in the $18.6–18.8 billion range and adjusted EPS of $11.85–12.10. Wall Street analysts on average had expected revenue of $19.37 billion and adjusted EPS of $12.19 in the new fiscal year.

Investors reacted by sending BDX shares down more than 1% to $215.46 apiece in pre-market trading.