Baxter Posts Mixed Q2 Earnings, Stock Falls On Lagging FY23 Outlook
Portfolio Pulse from Vandana Singh
Baxter International Inc (BAX) reported Q2 revenue of $3.71 billion, missing the consensus of $3.79 billion. Adjusted EPS of $0.66 surpassed the consensus of $0.60. The company's BioPharma Solutions (BPS) business is expected to be divested by July 2024. Baxter has projected its adjusted EPS for Q3 FY23, including discontinued operations, of $0.78-$0.80. If BPS is divested in September, Baxter expects FY23 adjusted EPS of $2.87-$2.95. BAX shares are down 3.78% at $47.10.

July 27, 2023 | 3:07 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Baxter's Q2 revenue missed expectations, but EPS surpassed consensus. The company's BioPharma Solutions business is expected to be divested by 2024, which could impact future earnings.
Baxter's Q2 revenue missed the consensus, which could negatively impact investor sentiment and the stock price. However, the EPS surpassed expectations, which could offset some of the negative impact. The planned divestiture of the BPS business could lead to uncertainty about future earnings, potentially affecting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100