Baxter (BAX) Tops Q3 EPS by 6c, Revenues Beat; Offers FY18 EPS Outlook

Baxter (NYSE: BAX) reported Q3 EPS of $0.80, $0.06 better than the analyst estimate of $0.74. Revenue for the quarter came in at $2.8 billion versus the consensus estimate of $2.78 billion.

“Baxter’s third-quarter performance reflects the benefit of our ongoing efforts to enhance operational excellence and innovation at the company,” said José (Joe) E. Almeida, chairman and chief executive officer. “While we remain confident in Baxter’s longer-term financial outlook, we have experienced a slower-than-expected return to pre-Hurricane Maria purchasing levels across certain businesses, as well as an impact from distributor destocking for select products that has depressed our top-line performance in 2018.”

Continued Almeida, “Our commercial teams are working diligently to address customer needs and recapture these sales, and we remain focused on relentless expense management across the company. In parallel, we continue to pursue capital deployment opportunities to fuel organic and inorganic growth that will help drive increased value for patients, healthcare providers and investors.”

GUIDANCE:

Baxter sees FY2018 EPS of $2.98-$3.00, versus the consensus of $2.99.

For earnings history and earnings-related data on Baxter (BAX) click here.

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