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Baxter International (BAX)
NYSE:BAX
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.32Last Year’s EPS
0.55Same Quarter Last Year
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a mixed picture: solid top-line growth in Q4 (+8% reported; +3% operational) and notable strength in Advanced Surgery, CCS capital orders (nearly +30%), Drug Compounding (+18%), and improved cash generation. However, material margin deterioration (gross margin down ~900 bps), an adjusted EPS miss, ongoing Novum pump disruptions and IV Solutions demand rebaselining, tariff headwinds ($130–$140M), and Pharmaceutical weakness are significant challenges. Management outlined concrete organizational and operational actions (new operating model, Baxter GPS, cost structure work) and provided a cautious, back-half-weighted 2026 outlook (flat organic growth, 13%–14% operating margin, $1.85–$2.05 EPS) while emphasizing deleveraging and continuous improvement. Overall, the positives are meaningful but are offset by substantial margin and execution risks, with improvement expected to be gradual into the back half of 2026.Company Guidance
Top-line Growth in Q4
Fourth quarter 2025 global sales from continuing operations were $3,000,000,000, up 8% reported and up 3% on an operational basis versus prior year.
Strong Advanced Surgery Performance
Advanced Surgery sales were $328,000,000 in Q4, growing 11%, driven by hemostats and sealants and steady procedure volumes.
HealthCare Systems & Connectivity Momentum
HST sales totaled $827,000,000 (up 4%); Care & Connectivity Solutions sales were $537,000,000 (up 4%), and total U.S. capital orders for CCS increased nearly 30% year-over-year with a robust order book and no observed slowdown in U.S. hospital capital spending.
Drug Compounding Growth
Within Pharmaceuticals, Drug Compounding grew 18% in Q4, reflecting strong demand for services outside the U.S.
Improved Cash Generation
Fourth quarter free cash flow was $456,000,000, bringing full-year free cash flow to $438,000,000 and management plans to deploy cash to reduce leverage; free cash flow is expected to improve in 2026 versus 2025 and remain back-half weighted.
Operational & Organizational Initiatives Launched
Management announced a new operating model (delayering and embedding functions into businesses), launched Baxter GPS (Growth & Performance System) and held a President’s Kaizen to drive continuous improvement, accountability, and faster innovation/commercialization.
Product Launches and Innovation Pipeline
Recent/forthcoming launches highlighted include the Connect 360 Monitor (Front Line Care), Dynamo series stretcher (smart beds/stretcher platform), and PureVu on the IQx platform (early Q2), and management committed to R&D investment at or above historical levels.
Reduced Interest Expense vs Prior Year
Net interest expense from continuing operations in the quarter totaled $58,000,000, a decrease of $32,000,000 versus the prior year period following debt paydown with proceeds from the Vantiv sale.
BAX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BAX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $22.27 | $18.71 | -15.99% |
Oct 30, 2025 | $22.41 | $19.15 | -14.54% |
Jul 31, 2025 | $27.84 | $21.60 | -22.43% |
May 01, 2025 | $30.77 | $30.27 | -1.61% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Baxter International (BAX) report earnings?
Baxter International (BAX) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Baxter International (BAX) earnings time?
Baxter International (BAX) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BAX EPS forecast?
BAX EPS forecast for the fiscal quarter 2026 (Q1) is 0.32.
