- Baxter International Inc (NYSE: BAX) posted Q3 revenue of $3.77 billion, which missed the consensus of $3.94 billion, up 17% on a reported basis, 23% on a constant currency basis, and rising slightly on an operational basis.
- Adjusted EPS of $0.82 came in line with the consensus and the management guidance of $0.79- $0.83.
- Renal Care, Clinical Nutrition, and Advanced Surgery delivered mid-single-digit growth.
- Medication Delivery performance was comparable to the same period in 2021. Growth was partially offset by a low single-digit decline in Pharmaceuticals, primarily due to generic competition.
- Acute Therapies and BioPharma Solutions declined, reflecting challenging comparisons due to a return to normal sales following increased COVID-19-related sales in Q3 FY21.
- Outlook: Baxter expects FY22 adjusted EPS of $3.53-3.60, lower than prior guidance of $3.60 – $3.70 versus the consensus of $3.62.
- The company forecasts sales growth of 17%-18% on a reported basis, approximately 23% on a constant currency basis, and low single digits on an operational basis.
- For Q4 FY22, Baxter sees sales growth of mid-to-high single digits on a reported basis, mid-teens on a constant currency basis, and approximately flat on an operational basis.
- It sees FY22 Adj. EPS of $0.92-$0.99 vs. the consensus estimate of $1.00.
- Price Action: BAX shares are down 6.35% at $53.97 on the last check Thursday.
Key Marijuana Executive Changes As Year End Approaches: Meet Leadership Team Of New Hemp Organization & More
Federation Of International Hemp Organizations Names Leadership Team
The Federation of International Hemp Organizations has appointed Fredéric Vallier, who served as secretary general of the Council of European Municipalities and Regions for 12 years, as its first-ever director general, reported Hemp Today.
