Baxter Q1 2024 Earnings Report
Key Takeaways
Baxter's first-quarter sales from continuing operations reached $3.59 billion, a 2% increase on a reported basis and a 3% increase on a constant currency basis, exceeding expectations. U.S. GAAP diluted EPS from continuing operations was $0.07, while adjusted diluted EPS from continuing operations was $0.65, also exceeding guidance.
Worldwide sales from continuing operations increased by 2% to $3.59 billion.
U.S. sales were flat year-over-year at $1.66 billion, while international sales increased by 5% to $1.93 billion.
U.S. GAAP diluted EPS from continuing operations was $0.07, and adjusted diluted EPS from continuing operations was $0.65.
Baxter is exploring a potential sale of the Kidney Care business in lieu of a proposed spinoff.
Baxter
Baxter
Baxter Revenue by Geographic Location
Forward Guidance
Baxter now expects full-year 2024 sales growth of approximately 2% on a reported basis and 2% to 3% on a constant currency basis. The company expects adjusted earnings, before special items, of $2.88 to $2.98 per diluted share. For second-quarter 2024, the company expects sales growth of approximately 1% on a reported basis and 2% to 3% on a constant currency basis and adjusted earnings, before special items, of $0.65 to $0.67 per diluted share.
Positive Outlook
- Full-year 2024 sales growth of approximately 2% on a reported basis is expected.
- Full-year 2024 sales growth of 2% to 3% on a constant currency basis is anticipated.
- Full-year adjusted diluted EPS is projected to be $2.88 to $2.98.
- Second-quarter 2024 sales growth of approximately 1% on a reported basis is expected.
- Second-quarter 2024 sales growth of 2% to 3% on a constant currency basis is anticipated.
Revenue & Expenses
Visualization of income flow from segment revenue to net income