Loading...
•
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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...