Overview
Baxter Q3 revenue increases 5% but misses analyst expectations
Adjusted EPS for Q3 beats analyst estimates, rising 41% year-over-year
Andrew Hider appointed as new CEO to drive growth and improvement
Outlook
Baxter expects full-year sales growth of 4% to 5% on a reported basis
Company forecasts full-year adjusted EPS of $2.35 to $2.40
Baxter anticipates Q4 sales growth of 2% on a reported basis
Result Drivers
MEDICAL PRODUCTS DECLINE - Lower infusion pump sales and reduced IV solutions demand due to post-Hurricane Helene fluid conservation efforts
HEALTHCARE SYSTEMS GROWTH - Increased demand for Care & Connectivity Solutions products and Front Line Care division improvements
PHARMACEUTICALS STRENGTH - Increased volumes in select international markets and steady contributions from Injectables portfolio
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$2.83 bln
$2.87 bln (11 Analysts)
Q3 Adjusted EPS
Beat
$0.69
$0.59 (12 Analysts)
Q3 EPS
-$0.10
Q3 Net Income
-$46 mln
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 13 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."
Wall Street's median 12-month price target for Baxter International Inc is $25.00, about 10.3% above its October 29 closing price of $22.42
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nBw17SmwXa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)