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Mar 31, 2022
Baxter Q1 2022 Earnings Report
Reported a strong first quarter, driven by the acquisition of Hillrom and growth in key business segments.
Key Takeaways
Baxter's first-quarter 2022 results showed a 26% increase in revenue to $3.7 billion, driven by the Hillrom acquisition and growth in Medication Delivery and BioPharma Solutions. U.S. GAAP EPS was $0.14, while adjusted EPS reached $0.93. The company is navigating challenges including COVID-19 impacts, geopolitical unrest, and inflationary pressures.
First-quarter revenue increased 26% to $3.7 billion, with a 3% operational growth.
U.S. sales increased 49% on a reported basis and 3% operationally, totaling $1.76 billion.
U.S. GAAP EPS was $0.14, and adjusted EPS was $0.93, a 22% increase.
Hillrom businesses contributed approximately $755 million to first-quarter performance.
Revenue by Geographic Location
Forward Guidance
Baxter expects full-year 2022 sales growth of 23% to 24% on a reported basis, and adjusted EPS of $4.12 to $4.20. For the second quarter, the company anticipates sales growth of approximately 26% and adjusted EPS of $0.86 to $0.89.
Positive Outlook
- Full-year sales growth of 23% to 24% on a reported basis is expected.
- Constant currency sales growth for the full year is projected at 25% to 26%.
- Adjusted EPS for the full year is anticipated to be $4.12 to $4.20.
- Second-quarter sales growth is expected to be approximately 26% on a reported basis.
- Second-quarter adjusted EPS is projected to be $0.86 to $0.89.
Challenges Ahead
- U.S. GAAP earnings are expected to be $2.35 to $2.43 per diluted share for the full year.
- The financial outlook reflects the impact from higher oil prices.
- Ongoing supply chain challenges are causing increased inflationary pressures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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