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Mar 31, 2024
Baxter Q1 2024 Earnings Report
Baxter's Q1 2024 results reflected solid operational performance, driven by strategic transformation initiatives and strong execution across the integrated supply chain network.
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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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