The earnings call presented a mixed performance for Baxter International with growth in sales and earnings and strategic partnerships being positive aspects. However, challenges in the Infusion Therapies & Technologies segment, issues with the Novum LVP platform, and a decline in gross margins presented significant concerns.

Company Guidance -

Q3 2025

During Baxter International's second quarter 2025 earnings call, the company provided updated guidance for the third quarter and the full year. For 2025, Baxter expects total sales growth of 6% to 7% on a reported basis, with foreign exchange anticipated to contribute about 50 basis points to this growth. MSA revenues from Vantive are projected to contribute around $320 million. Operational sales growth is now estimated at 3% to 4%, a reduction from the previous 4% to 5% guidance, reflecting potential downside risks including the temporary pause of Novum IQ Large Volume pump shipments and ongoing fluid conservation efforts by hospitals. Adjusted operating margin from continuing operations is expected to be between 15% to 16%, with a full-year adjusted earnings per share on a continuing operations basis revised to $2.42 to $2.52. Guidance for the third quarter includes sales growth of 6% to 7% on a reported basis and 3% to 4% on an operational basis, with adjusted earnings per share expected to be between $0.58 to $0.62.

Sales and Earnings Growth

Second quarter sales from continuing operations grew 4% on a reported basis and 1% on an operational basis. Adjusted earnings per share from continuing operations increased 28% over the prior year, reaching $0.59.

Advanced Surgery and Care & Connectivity Solutions Performance

Advanced Surgery sales grew 5% globally, driven by strong demand for hemostats and sealants. Care & Connectivity Solutions (CCS) sales increased 4%, with notable improvement internationally at 7% growth.

Debt Reduction and Tax Rate Improvement

Net interest expense decreased by $28 million versus the prior year due to debt repayment. The adjusted tax rate was 16.7%, a decrease of 400 basis points over the prior year, driven by strategic use of tax attributes.

Strategic Partnership with Vizient

Baxter announced a strategic partnership with Vizient to expand its reserve program, including Baxter IV fluids, to ensure reliable access during supply disruptions.

Baxter International (BAX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BAX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	0.60 / -	0.49	―	―	―
Jul 31, 2025	2025 (Q2)	0.61 / 0.59	0.68	-13.24% (-0.09)
May 01, 2025	2025 (Q1)	0.48 / 0.55	0.65	-15.38% (-0.10)
Feb 20, 2025	2024 (Q4)	0.53 / 0.58	0.88	-34.09% (-0.30)
Nov 08, 2024	2024 (Q3)	0.78 / 0.49	0.82	-40.24% (-0.33)
Aug 06, 2024	2024 (Q2)	0.66 / 0.68	0.66	3.03% (+0.02)
May 02, 2024	2024 (Q1)	0.61 / 0.65	0.59	10.17% (+0.06)
Feb 08, 2024	2023 (Q4)	0.86 / 0.88	0.88	0.00% (0.00)
Nov 02, 2023	2023 (Q3)	0.67 / 0.82	0.82	0.00% (0.00)
Jul 27, 2023	2023 (Q2)	0.60 / 0.66	0.87	-24.14% (-0.21)

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
Jul 31, 2025	$28.05	$21.76	-22.42%
May 01, 2025	$31.00	$30.50	-1.61%
Feb 20, 2025	$30.50	$33.09	+8.49%
Nov 08, 2024	$35.48	$34.11	-3.86%

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.