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Baxter
🇺🇸 NYSE:BAX
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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.

Total Revenue
$3.89B
Previous year: $3.89B
-0.1%
EPS
$0.88
Previous year: $0.88
+0.0%
Gross Profit
$1.47B
Previous year: $1.46B
+0.6%
Cash and Equivalents
$3.08B
Previous year: $1.72B
+79.2%
Total Assets
$28.3B
Previous year: $28.3B
+-0.0%

Baxter

Baxter

Baxter Revenue by Geographic Location

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

Company Overview

Full financial data and analysis

View Baxter