Baxter International reported strong first quarter results, surpassing guidance with significant growth in all segments and improved earnings per share. However, the company is facing challenges due to tariffs and foreign exchange impacts, which could affect future performance. Despite these challenges, the company maintains a positive outlook based on strong operational performance and strategic initiatives.

Company Guidance

During Baxter International's first quarter 2025 earnings conference call, the company exceeded its previously issued guidance with a 5% growth in sales from continuing operations, totaling $2.3 billion. The adjusted earnings per share from continuing operations were reported at $0.55, surpassing expectations. The Medical Products & Therapies (MPT) segment saw a 6% sales increase, with notable contributions from the Infusion Therapies & Technologies division. Healthcare Systems and Technologies (HST) sales rose 6%, led by a 7% growth in the Care and Connectivity Solutions division. Pharmaceuticals segment sales grew by 3%, with a 4% increase in injectables and anesthesia sales. The company is addressing challenges such as newly enacted global tariffs, estimating a $60 million to $70 million impact for the year, and is implementing mitigation strategies. Baxter expects full-year 2025 sales growth of 7% to 8% on a reported basis, maintaining its operational growth forecast of 4% to 5%. The company is focused on accelerating sales growth, expanding margins, and optimizing its supply chain amid the global macroeconomic environment.

Exceeded Guidance in Q1 2025

First quarter performance for continuing operations exceeded previously issued guidance on both the top and bottom lines, with sales growing 5% on a reported and operational basis.

Positive Segment Growth

Sales rose in all three of Baxter's continuing segments, with Medical Products & Therapies and Healthcare Systems and Technologies performing ahead of expectations.

Strong Performance in Healthcare Systems and Technologies

HST segment sales totaled $704 million, increasing 6%, with a strong order backlog and competitive account wins, particularly in Care and Connectivity Solutions.

Improved Earnings Per Share

Adjusted earnings per share from continuing operations were $0.55, driven by top-line performance and operational efficiency.

Successful Recovery from Hurricane Impact

Production at the North Cove IV solutions facility returned to pre-hurricane levels, and the company expects to be off virtually all product allocations soon.

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Baxter International (BAX) Earnings, Revenues Date & History

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BAX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 24, 2025	2025 (Q2)	0.61 / -	0.68	―	―	―
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)
Apr 27, 2023	2023 (Q1)	0.49 / 0.59	0.93	-36.56% (-0.34)

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

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BAX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 01, 2025	$31.17	$30.67	-1.60%
Feb 20, 2025	$30.67	$33.28	+8.51%
Nov 08, 2024	$35.68	$34.30	-3.87%
Aug 06, 2024	$34.04	$36.28	+6.58%

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.

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