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Jun 30, 2022
Baxter Q2 2022 Earnings Report
Reported a 21% increase in worldwide sales and an adjusted EPS of $0.87, driven by a diverse portfolio and the Hillrom acquisition.
Key Takeaways
Baxter International Inc. reported a 21% increase in worldwide sales, reaching $3.75 billion for the second quarter of 2022. U.S. GAAP earnings per share (EPS) totaled $0.50, while adjusted EPS reached $0.87. The company's performance was driven by its diverse portfolio and the recent acquisition of Hillrom.
Second-quarter revenue increased 21% on a reported basis, 26% on a constant currency basis, and 3% on an operational basis.
U.S. sales increased 47% on a reported basis and 4% operationally, while international sales increased 4% on a reported basis, 13% at constant currency, and 2% operationally.
Net income attributable to Baxter was $252 million, or $0.50 per diluted share, a decline of 15% on a U.S. GAAP basis.
Adjusted net income attributable to Baxter totaled $443 million, or $0.87 per diluted share, a 9% increase for the quarter.
Baxter
Baxter
Baxter Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Baxter expects high-teens sales growth on a reported basis, mid-20s sales growth on a constant currency basis and low single-digit sales growth on an operational basis for Q3 2022. The company expects U.S. GAAP earnings of $0.46 to $0.50 per diluted share and adjusted earnings of $0.79 to $0.83 per diluted share.
Positive Outlook
- High-teens sales growth on a reported basis
- Mid-20s sales growth on a constant currency basis
- Low single-digit sales growth on an operational basis
- U.S. GAAP earnings of $0.46 to $0.50 per diluted share
- Adjusted earnings of $0.79 to $0.83 per diluted share
Challenges Ahead
- Ongoing supply chain challenges
- Increased inflationary pressures
- Difficulty in accessing critical components
- Impact of increased prices of diesel fuel impacting freight expenses
- Unspecified potential impact of future business or asset acquisitions or dispositions
Revenue & Expenses
Visualization of income flow from segment revenue to net income