NYSE$BAX
Baxter International Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Baxter's Q1 2023 performance reflected sustained demand for medically essential products amidst a stabilizing macroeconomic climate and healthcare marketplace.
Baxter's first-quarter 2023 results showed a worldwide sales decrease of 2% on a reported basis, totaling $3.65 billion, but an increase of 2% on a constant currency basis. U.S. GAAP earnings per share (EPS) totaled $0.09, while adjusted EPS totaled $0.59. The company is advancing its strategic transformation initiatives, including a new operating model and the proposed spinoff of its Kidney Care segment.
- Worldwide sales totaled approximately $3.65 billion, a decrease of 2% on a reported basis and an increase of 2% on a constant currency basis.
- U.S. sales totaled $1.73 billion, decreasing 1% on a reported basis.
- Net income attributable to Baxter was $44 million, or $0.09 per diluted share, a decline of 36% on a U.S. GAAP basis.
- Adjusted net income attributable to Baxter totaled $297 million, or $0.59 per diluted share, a 37% decrease.
Headline financials
Revenue & EPS history
Baxter · Revenue · Quarterly
$3.65B
Revenue by segment
Baxter · $597M total across 2 segments · Q3 2023
- Pharmaceuticals$580M—97.2%
- Other$17M—2.8%
Forward guidance
Baxter expects full-year 2023 sales growth of 1% to 2% on a reported basis and approximately 1% on a constant currency basis. The company anticipates U.S. GAAP earnings of $1.16 to $1.31 per diluted share and adjusted earnings of $2.85 to $3.00 per diluted share. For the second quarter of 2023, sales growth is expected to be approximately 1% to 2% on a reported basis and 2% to 3% on a constant currency basis, with U.S. GAAP earnings of $0.18 to $0.20 per diluted share and adjusted earnings of $0.59 to $0.61 per diluted share.
Tailwinds
- Full-year 2023 sales growth of 1% to 2% on a reported basis is expected.
- Constant currency sales growth for full-year 2023 is expected to be approximately 1%.
- Full-year U.S. GAAP earnings are projected to be $1.16 to $1.31 per diluted share.
- Adjusted earnings for full-year 2023 are expected to be $2.85 to $3.00 per diluted share.
- Second-quarter sales growth of approximately 1% to 2% on a reported basis is anticipated.
Headwinds
- Second-quarter U.S. GAAP earnings are expected to be $0.18 to $0.20 per diluted share.
- Adjusted earnings for the second quarter are projected to be $0.59 to $0.61 per diluted share.
- The company's outlook does not reflect the potential impact of future business or asset acquisitions or dispositions.
- The company's outlook does not reflect the potential impact of goodwill or intangible asset impairments
- The company's outlook does not reflect the potential impact of restructuring actions
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.4%
Avg return
Earnings day
-2.0%
Avg return
5 days after
-0.9%
Avg return
30 days after
47%
34 / 72 earnings
Positive
+18.2%
Q4 2019
Best reaction
-16.0%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.1% | -0.9% | +11.2% | |
| Q4 2025 | -16.0% | -6.9% | -21.9% | |
| Q3 2025 | -14.4% | -20.0% | -16.4% | |
| Q1 2025 | -1.6% | -4.0% | -2.1% | |
| Q4 2024 | +8.5% | +16.6% | +7.7% | |
| Q3 2024 | -5.0% | -9.5% | -11.8% | |
| Q2 2024 | +5.6% | +7.2% | +12.1% | |
| Q1 2024 | -8.6% | -10.5% | -15.5% | |
| Q4 2023 | +0.4% | +0.6% | +11.1% | |
| Q3 2023 | +3.6% | +4.3% | +11.5% | |
| Q2 2023 | -4.0% | -8.1% | -15.2% | |
| Q1 2023 | +3.5% | +2.0% | -10.4% | |
| Q4 2022 | -10.4% | -12.6% | -16.8% | |
| Q3 2022 | -4.6% | -6.7% | -2.8% | |
| Q2 2022 | -12.2% | -11.9% | -14.4% | |
| Q1 2022 | -0.0% | +1.4% | +7.2% | |
| Q4 2021 | -3.3% | -0.8% | -7.1% | |
| Q3 2021 | -3.6% | -2.0% | -6.9% | |
| Q2 2021 | -5.6% | -6.9% | -9.7% | |
| Q1 2021 | -1.5% | +0.5% | -5.6% | |
| Q4 2020 | +0.0% | -0.4% | +1.0% | |
| Q3 2020 | -0.7% | -1.1% | -2.8% | |
| Q2 2020 | -4.8% | -10.6% | -5.2% | |
| Q1 2020 | -4.0% | -3.0% | -1.6% | |
| Q4 2019 | +18.2% | +5.8% | +26.5% | |
| Q3 2019 | +18.2% | +5.8% | +26.5% | |
| Q2 2019 | +1.5% | +2.7% | +1.3% | |
| Q1 2019 | -0.1% | +0.0% | -1.5% | |
| Q4 2018 | +0.6% | +0.5% | +5.7% | |
| Q3 2018 | -8.1% | -9.0% | -0.2% | |
| Q2 2018 | -6.3% | -5.3% | -5.4% | |
| Q1 2018 | +5.5% | +5.5% | +9.0% | |
| Q4 2017 | -4.8% | -7.4% | -8.0% | |
| Q3 2017 | +0.9% | +0.3% | -0.4% | |
| Q2 2017 | -2.8% | -2.6% | -0.9% | |
| Q1 2017 | +4.2% | +4.5% | +10.2% | |
| Q4 2016 | +0.5% | +0.9% | +6.3% | |
| Q3 2016 | -2.1% | -2.6% | -3.9% | |
| Q2 2016 | +4.8% | +4.2% | +2.2% | |
| Q1 2016 | +1.3% | — | — | |
| Q4 2015 | +2.6% | — | — | |
| Q3 2015 | +3.7% | — | — | |
| Q2 2015 | +5.0% | — | — | |
| Q1 2015 | +1.1% | — | — | |
| Q4 2014 | +0.2% | — | — | |
| Q3 2014 | -1.6% | — | — | |
| Q2 2014 | -0.1% | — | — | |
| Q1 2014 | -0.4% | — | — | |
| Q4 2013 | -3.0% | — | — | |
| Q3 2013 | -2.3% | — | — | |
| Q2 2013 | +1.3% | — | — | |
| Q1 2013 | -1.6% | — | — | |
| Q4 2012 | +2.1% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +0.1% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2011 | +1.8% | — | — | |
| Q3 2011 | +2.8% | — | — | |
| Q2 2011 | -2.7% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q4 2007 | -1.2% | — | — | |
| Q4 2010 | -1.2% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q2 2010 | +0.3% | — | — | |
| Q1 2009 | +0.9% | — | — | |
| Q1 2010 | -0.8% | — | — | |
| Q4 2009 | -0.3% | — | — | |
| Q3 2008 | -0.8% | — | — | |
| Q3 2009 | -0.8% | — | — | |
| Q2 2008 | +2.2% | — | — | |
| Q2 2009 | +2.2% | — | — | |
| Q4 2008 | +2.2% | — | — |
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