Baxter International (BAX) reported Q3 adjusted earnings Friday of $0.80 per diluted share, down from $0.82 a year earlier.
Analysts polled by Capital IQ expected $0.78.
Total worldwide sales, including discontinued operations sales, were $3.85 billion. Analysts surveyed by Capital IQ expected $3.85 billion. Net sales rose to $2.7 billion from $2.6 billion a year earlier.
For Q4, the biopharmaceutical company expects adjusted EPS of $0.77 to $0.81 on revenue declining by the low single digits. Analysts polled by Capital IQ expect normalized EPS of $0.85.
For 2024, the company lowered its adjusted EPS guidance to $2.90 to $2.94 per diluted share on total sales growth of 1% to 2%, down from its previous projection of adjusted EPS $2.93 to $3.01 per diluted share on sales growth of 3%. Analysts polled by Capital IQ expect normalized EPS of $2.95.
Baxter said it adjusted its full-year guidance to reflect the impact of Hurricane Helene on its Q4 results.
Shares of the company were down more than 1% in recent premarket activity.
Price: 35.30, Change: -0.74, Percent Change: -2.05
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