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Dec 31, 2023
Baxter Q4 2023 Earnings Report
Reported a 4% increase in fourth-quarter sales and adjusted diluted EPS of $0.88.
Key Takeaways
Baxter International Inc. reported a 4% increase in worldwide sales from continuing operations, totaling $3.89 billion for the fourth quarter. U.S. GAAP diluted EPS from continuing operations was $0.14, and adjusted diluted EPS from continuing operations was $0.88. The company's performance exceeded previous guidance due to strong sales in Medical Products and Therapies, Kidney Care, and Pharmaceuticals segments.
Fourth-quarter sales from continuing operations increased 4% on a reported basis and 3% on a constant currency basis.
U.S. sales from continuing operations increased 2% on a reported basis.
International sales from continuing operations increased 6% on a reported basis.
Total net income attributable to Baxter on a U.S. GAAP basis was $245 million, or $0.48 per diluted share.
Baxter
Baxter
Baxter Revenue by Segment
Baxter Revenue by Geographic Location
Revenue by Segment
Pharmaceuticals Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Baxter expects full-year 2024 sales growth of approximately 2% on both a reported and constant currency basis, with adjusted earnings of $2.85 to $2.95 per diluted share. For the first quarter of 2024, the company anticipates sales growth of approximately 1% on a reported basis and adjusted earnings of $0.59 to $0.62 per diluted share.
Positive Outlook
- Expects sales growth of approximately 2% on both a reported and constant currency basis for full-year 2024.
- Anticipates adjusted earnings of $2.85 to $2.95 per diluted share for full-year 2024.
- Projects sales growth of approximately 1% on a reported basis for first-quarter 2024.
- Estimates adjusted earnings of $0.59 to $0.62 per diluted share for first-quarter 2024.
- Focus on deleveraging and enhancing cash flow generation in 2024.
Challenges Ahead
- The company is unable to predict with reasonable certainty the impact of legal proceedings.
- The company is unable to predict future business optimization actions.
- The company is unable to predict separation-related costs.
- The company is unable to predict integration-related costs.
- The company is unable to predict asset impairments and unusual gains and losses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income