Baxter International Inc (BAX) stock
BAXNYSESurgical & Medical Instruments & ApparatusFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 11/306% below fair value
$23.00−0.50 (-2.13%)
Close on Oct 30, 2026Market cap $11.89BP/E –Yield 2.26%
Earnings
Baxter International's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.
Next report
Feb 11, 2027
Q4 FY2026 · estimated, before the open
Revenue, Q3 FY2026
$2.98B
+4.9% on a year earlier
adjusted diluted EPS, Q3 FY2026
$0.58
$0.69 a year earlier
Latest guidance
Issued
Oct 29, 2026 · 3 items
Quarterly results
Revenue and earnings per share from each of Baxter International's earnings releases, newest first
| Quarter | Reported | Revenue | YoY | EPS | Adj. EPS | Source |
|---|---|---|---|---|---|---|
| Q4 FY2026ended Dec 31, 2026 | Feb 11, 2027Expected | – | – | – | – | – |
| Q3 FY2026ended Sep 30, 2026 | Oct 29, 2026before the open | $2.98B | +4.9% | $0.57 | $0.58 | Release |
| Q2 FY2026ended Jun 30, 2026 | Jul 30, 2026before the open | $2.96B | +5.3% | $0.26 | $0.56 | Release |
| Q1 FY2026ended Mar 31, 2026 | Apr 30, 2026before the open | $2.70B | +2.7% | -$0.03 | $0.36 | Release |
| Q4 FY2025ended Dec 31, 2025 | Feb 12, 2026before the open | $2.97B | +8.0% | -$2.01 | $0.44 | Release |
| Q3 FY2025ended Sep 30, 2025 | Oct 30, 2025before the open | $2.84B | -26.2% | -$0.10 | $0.69 | Release |
| Q2 FY2025ended Jun 30, 2025 | Jul 31, 2025before the open | $2.81B | -26.2% | $0.24 | $0.59 | Release |
| Q1 FY2025ended Mar 31, 2025 | May 1, 2025before the open | $2.63B | -26.7% | $0.13 | $0.55 | Release |
| Q4 FY2024ended Dec 31, 2024 | Feb 20, 2025before the open | $2.75B | -29.3% | -$0.95 | $0.58 | Release |
| Q3 FY2024ended Sep 30, 2024 | Nov 8, 2024before the open | $3.85B | +3.8% | $0.27 | $0.80 | Release |
| Q2 FY2024ended Jun 30, 2024 | Aug 6, 2024before the open | $3.81B | +2.7% | -$0.62 | $0.68 | Release |
| Q1 FY2024ended Mar 31, 2024 | May 2, 2024before the open | $3.59B | -1.6% | $0.07 | $0.65 | Release |
| Q4 FY2023ended Dec 31, 2023 | Feb 8, 2024before the open | $3.89B | -0.3% | $0.14 | $0.88 | Release |
| Q3 FY2023ended Sep 30, 2023 | Nov 2, 2023before the open | $3.71B | -2.4% | $0.09 | $0.68 | Release |
| Q2 FY2023ended Jun 30, 2023 | Jul 27, 2023before the open | $3.71B | -1.1% | -$0.28 | $0.66 | Release |
| Q1 FY2023ended Mar 31, 2023 | Apr 27, 2023before the open | $3.65B | -1.4% | $0.09 | $0.59 | Release |
| Q4 FY2022ended Dec 31, 2022 | Feb 9, 2023before the open | $3.90B | +11.4% | $0.36 | $0.88 | Release |
| Q3 FY2022ended Sep 30, 2022 | Oct 27, 2022before the open | $3.80B | +18.8% | -$5.83 | $0.82 | Release |
| Q2 FY2022ended Jun 30, 2022 | Jul 28, 2022before the open | $3.75B | – | $0.50 | $0.87 | Release |
| Q1 FY2022ended Mar 31, 2022 | Apr 28, 2022before the open | $3.70B | – | $0.14 | $0.93 | Release |
| Q4 FY2021ended Dec 31, 2021 | Feb 17, 2022before the open | $3.50B | – | $0.47 | $1.04 | Release |
| Q3 FY2021ended Sep 30, 2021 | Oct 28, 2021before the open | $3.20B | – | $0.89 | $1.02 | Release |
| Q2 FY2021ended Jun 30, 2021 | Jul 29, 2021before the open | – | – | – | – | Filing |
| Q1 FY2021ended Mar 31, 2021 | Apr 29, 2021before the open | – | – | – | – | Filing |
| Q4 FY2020ended Dec 31, 2020 | Jan 11, 2021before the open | – | – | – | – | Filing |
| Q3 FY2020ended Sep 30, 2020 | Oct 29, 2020before the open | – | – | – | – | Filing |
Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.
Current guidance
Baxter International's latest outlook for periods it has not reported yet, compared with what it said before
| Metric | Period | Guidance | Before | Change | Given |
|---|---|---|---|---|---|
| Organic sales growth from continuing operationsnon-GAAP | FY2026 | +3% – +4% | – | New | Oct 29, 2026 |
| Organic sales growth from continuing operationsnon-GAAP | FY2026 | +2% – +3% | – | New | Jul 30, 2026 |
| Reported sales growth from continuing operationsGAAP | FY2026 | +4% – +5% | – | New | Oct 29, 2026 |
| Reported sales growth from continuing operationsGAAP | FY2026 | +3% – +4% | – | New | Jul 30, 2026 |
| Adjusted earnings from continuing operations per diluted sharenon-GAAP | FY2026 | $2.05 – $2.15 | – | New | Oct 29, 2026 |
| Adjusted earnings from continuing operations per diluted sharenon-GAAP | FY2026 | $1.95 – $2.15 | $1.85 – $2.05 | Raised | Jul 30, 2026 |
Guidance vs results
The last range Baxter International gave before each report, against the figure it then reported. Full years add up the four quarters.
| Period | Metric | Guidance | Actual | Result |
|---|---|---|---|---|
| FY2025 | adjusted earnings from continuing operations, before special items | $2.35 – $2.40 | $2.27Σ4Q | Below range |
| FY2025 | Revenue growth | +4% – +5% | -19.64%Σ4Q | Below range |
| Q4 FY2025 | adjusted earnings from continuing operations, before special items | $0.52 – $0.57 | $0.44 | Below range |
| Q4 FY2025 | Revenue growth | +2% | +8% | Above range |
| Q3 FY2025 | adjusted earnings from continuing operations, before special items, per diluted share | $0.58 – $0.62 | $0.69 | Above range |
| Q3 FY2025 | Revenue growth | +6% – +7% | -26.23% | Below range |
| Q2 FY2025 | adjusted earnings from continuing operations, before special items | $0.59 – $0.63 | $0.59 | Within range |
| Q2 FY2025 | Revenue growth | +4% – +5% | -26.25% | Below range |
| Q1 FY2025 | adjusted earnings from continuing operations, before special items | $0.47 – $0.50 | $0.55 | Above range |
| Q1 FY2025 | Revenue growth | +3% – +4% | -26.74% | Below range |
| Q4 FY2024 | total adjusted earnings, before special items | $0.77 – $0.81 | $0.58 | Below range |
| Q3 FY2024 | adjusted earnings, before special items | $0.77 – $0.79 | $0.80 | Above range |
| Q3 FY2024 | Revenue growth | +3% – +4% | +3.77% | Within range |
| Q2 FY2024 | adjusted earnings, before special items | $0.65 – $0.67 | $0.68 | Above range |
| Q2 FY2024 | Revenue growth | +1% | +2.7% | Above range |
| Q1 FY2024 | adjusted earnings, before special items | $0.59 – $0.62 | $0.65 | Above range |
| Q1 FY2024 | Revenue growth | +1% | -1.64% | Below range |
| Q4 FY2023 | adjusted earnings from continuing operations, before special items | $0.85 – $0.88 | $0.88 | Within range |
| Q4 FY2023 | Revenue growth | +1% – +2% | -0.26% | Below range |
| Q3 FY2023 | adjusted earnings in aggregate (including discontinued operations) | $0.78 – $0.80 | $0.68 | Below range |
| Q3 FY2023 | Revenue growth | +2% | -2.37% | Below range |
| Q2 FY2023 | adjusted earnings, before special items, per diluted share | $0.59 – $0.61 | $0.66 | Above range |
| Q2 FY2023 | EPS (GAAP) | $0.18 – $0.20 | -$0.28 | Below range |
| Q2 FY2023 | Revenue growth | +1% – +2% | -1.07% | Below range |
| Q1 FY2023 | adjusted earnings, before special items | $0.46 – $0.50 | $0.59 | Above range |
| Q1 FY2023 | EPS (GAAP) | $0.14 – $0.18 | $0.09 | Below range |
| Q1 FY2023 | Revenue growth | -3% | -1.35% | Above range |
| Q4 FY2022 | adjusted earnings, before special items | $0.92 – $0.99 | $0.88 | Below range |
| Q4 FY2022 | EPS (GAAP) | $0.60 – $0.67 | $0.36 | Below range |
| Q3 FY2022 | adjusted earnings, before special items | $0.79 – $0.83 | $0.82 | Within range |
| Q3 FY2022 | EPS (GAAP) | $0.46 – $0.50 | -$5.83 | Below range |
| Q2 FY2022 | adjusted earnings, before special items, per diluted share | $0.86 – $0.89 | $0.87 | Within range |
| Q2 FY2022 | EPS (GAAP) | $0.48 – $0.51 | $0.50 | Within range |
| Q1 FY2022 | adjusted earnings, before special items | $0.79 – $0.82 | $0.93 | Above range |
| Q1 FY2022 | EPS (GAAP) | $0.46 – $0.49 | $0.14 | Below range |
| Q4 FY2021 | adjusted earnings, before special items, per diluted share | $1.00 – $1.04 | $1.04 | Within range |
| Q4 FY2021 | EPS (GAAP) | $0.75 – $0.79 | $0.47 | Below range |
Guidance history
Every forecast Baxter International put in an earnings release, newest first
| Given | Metric | Period | Guidance | Change |
|---|---|---|---|---|
| Oct 29, 2026 | Adjusted earnings from continuing operations per diluted share | FY2026 | $2.05 – $2.15 | New |
| Oct 29, 2026 | Reported sales growth from continuing operations | FY2026 | +4% – +5% | New |
| Oct 29, 2026 | Organic sales growth from continuing operations | FY2026 | +3% – +4% | New |
| Jul 30, 2026 | Adjusted earnings from continuing operations per diluted share | FY2026 | $1.95 – $2.15 | Raised |
| Jul 30, 2026 | Reported sales growth from continuing operations | FY2026 | +3% – +4% | New |
| Jul 30, 2026 | Organic sales growth from continuing operations | FY2026 | +2% – +3% | New |
| Apr 30, 2026 | Adjusted earnings from continuing operations per diluted share | FY2026 | $1.85 – $2.05 | Reaffirmed |
| Feb 12, 2026 | Adjusted earnings from continuing operations per diluted share | FY2026 | $1.85 – $2.05 | New |
| Oct 30, 2025 | adjusted earnings from continuing operations, before special items | FY2025 | $2.35 – $2.40 | Lowered |
| Oct 30, 2025 | adjusted earnings from continuing operations, before special items | Q4 FY2025 | $0.52 – $0.57 | New |
| Oct 30, 2025 | sales growth from continuing operations | FY2025 | +4% – +5% | Lowered |
| Oct 30, 2025 | sales growth | FY2025 | +1% – +2% | Lowered |
| Oct 30, 2025 | sales growth from continuing operations | Q4 FY2025 | +2% | New |
| Oct 30, 2025 | sales growth from continuing operations | Q4 FY2025 | -2% | New |
| Jul 31, 2025 | adjusted earnings from continuing operations, before special items, per diluted share | FY2025 | $2.42 – $2.52 | New |
| Jul 31, 2025 | adjusted earnings from continuing operations, before special items, per diluted share | Q3 FY2025 | $0.58 – $0.62 | New |
| Jul 31, 2025 | sales growth from continuing operations on a reported basis | FY2025 | +6% – +7% | New |
| Jul 31, 2025 | sales growth on an operational basis | FY2025 | +3% – +4% | New |
| Jul 31, 2025 | sales growth from continuing operations on a reported basis | Q3 FY2025 | +6% – +7% | New |
| Jul 31, 2025 | sales growth from continuing operations on an operational basis | Q3 FY2025 | +3% – +4% | New |
| May 1, 2025 | adjusted earnings from continuing operations, before special items | Q2 FY2025 | $0.59 – $0.63 | New |
| May 1, 2025 | adjusted earnings from continuing operations, before special items | FY2025 | $2.47 – $2.55 | New |
| May 1, 2025 | sales growth from continuing operations | Q2 FY2025 | +4% – +5% | New |
| May 1, 2025 | sales growth from continuing operations | Q2 FY2025 | +1% – +2% | New |
| May 1, 2025 | sales growth from continuing operations | FY2025 | +7% – +8% | Raised |
| May 1, 2025 | sales growth | FY2025 | +4% – +5% | Reaffirmed |
| Feb 20, 2025 | adjusted earnings from continuing operations, before special items | Q1 FY2025 | $0.47 – $0.50 | New |
| Feb 20, 2025 | sales growth from continuing operations | Q1 FY2025 | +3% – +4% | New |
| Feb 20, 2025 | sales growth | Q1 FY2025 | +4% | New |
| Feb 20, 2025 | sales growth from continuing operations | FY2025 | +5% – +6% | New |
| Feb 20, 2025 | sales growth | FY2025 | +4% – +5% | New |
| Nov 8, 2024 | total adjusted earnings, before special items | Q4 FY2024 | $0.77 – $0.81 | New |
| Nov 8, 2024 | total company adjusted earnings, before special items | FY2024 | $2.90 – $2.94 | Lowered |
| Nov 8, 2024 | total company sales growth | FY2024 | +1% – +2% | Lowered |
| Nov 8, 2024 | total company sales growth on a constant currency basis | FY2024 | +2% | Lowered |
| Aug 6, 2024 | adjusted earnings, before special items | FY2024 | $2.93 – $3.01 | Raised |
| Aug 6, 2024 | adjusted earnings, before special items | Q3 FY2024 | $0.77 – $0.79 | New |
| Aug 6, 2024 | sales growth | FY2024 | +3% | Raised |
| Aug 6, 2024 | sales growth | FY2024 | +3% | Raised |
| Aug 6, 2024 | sales growth | Q3 FY2024 | +3% – +4% | New |
| Aug 6, 2024 | sales growth | Q3 FY2024 | +4% – +5% | New |
| May 2, 2024 | adjusted earnings, before special items | Q2 FY2024 | $0.65 – $0.67 | New |
| May 2, 2024 | adjusted earnings, before special items | FY2024 | $2.88 – $2.98 | Raised |
| May 2, 2024 | sales growth on a constant currency basis | Q2 FY2024 | +2% – +3% | New |
| May 2, 2024 | sales growth | Q2 FY2024 | +1% | New |
| May 2, 2024 | sales growth | FY2024 | +2% | Reaffirmed |
| May 2, 2024 | sales growth on a constant currency basis | FY2024 | +2% – +3% | Raised |
| Feb 8, 2024 | adjusted earnings, before special items | Q1 FY2024 | $0.59 – $0.62 | New |
| Feb 8, 2024 | adjusted earnings, before special items | FY2024 | $2.85 – $2.95 | New |
| Feb 8, 2024 | sales growth | Q1 FY2024 | +1% | New |
| Feb 8, 2024 | sales growth | Q1 FY2024 | +1% – +2% | New |
| Feb 8, 2024 | sales growth | FY2024 | +2% | New |
| Feb 8, 2024 | sales growth | FY2024 | +2% | New |
| Nov 2, 2023 | adjusted earnings from continuing operations, before special items | Q4 FY2023 | $0.85 – $0.88 | New |
| Nov 2, 2023 | adjusted earnings from continuing operations, before special items | FY2023 | $2.57 – $2.60 | Lowered |
| Nov 2, 2023 | sales growth from continuing operations | Q4 FY2023 | +1% – +2% | New |
| Nov 2, 2023 | sales growth from continuing operations | Q4 FY2023 | +1% | New |
| Nov 2, 2023 | sales growth from continuing operations | FY2023 | +1% – +2% | Reaffirmed |
| Nov 2, 2023 | sales growth from continuing operations | FY2023 | +2% | Reaffirmed |
| Jul 27, 2023 | adjusted earnings in aggregate (including discontinued operations) | Q3 FY2023 | $0.78 – $0.80 | New |
| Jul 27, 2023 | adjusted earnings on an aggregate basis (including discontinued operations) | FY2023 | $2.92 – $3.00 | Raised |
| Jul 27, 2023 | sales growth from continuing operations | Q3 FY2023 | +2% | New |
| Jul 27, 2023 | sales growth from continuing operations on a constant currency basis | Q3 FY2023 | +1% | New |
| Jul 27, 2023 | sales growth from continuing operations | FY2023 | +1% – +2% | Reaffirmed |
| Jul 27, 2023 | sales growth from continuing operations on a constant currency basis | FY2023 | +2% | New |
| Apr 27, 2023 | adjusted earnings, before special items, per diluted share | Q2 FY2023 | $0.59 – $0.61 | New |
| Apr 27, 2023 | adjusted earnings, before special items, per diluted share | FY2023 | $2.85 – $3.00 | Raised |
| Apr 27, 2023 | U.S. GAAP earnings per diluted share | Q2 FY2023 | $0.18 – $0.20 | New |
| Apr 27, 2023 | U.S. GAAP earnings per diluted share | FY2023 | $1.16 – $1.31 | Lowered |
| Apr 27, 2023 | sales growth | Q2 FY2023 | +1% – +2% | New |
| Apr 27, 2023 | sales growth on a constant currency basis | Q2 FY2023 | +2% – +3% | New |
| Feb 9, 2023 | adjusted earnings, before special items | Q1 FY2023 | $0.46 – $0.50 | New |
| Feb 9, 2023 | adjusted earnings, before special items | FY2023 | $2.75 – $2.95 | New |
| Feb 9, 2023 | U.S. GAAP earnings | Q1 FY2023 | $0.14 – $0.18 | New |
| Feb 9, 2023 | U.S. GAAP earnings | FY2023 | $1.43 – $1.63 | New |
| Feb 9, 2023 | sales | Q1 FY2023 | -3% | New |
| Feb 9, 2023 | sales on a constant currency basis | Q1 FY2023 | -1% | New |
| Feb 9, 2023 | sales growth | FY2023 | +1% – +2% | New |
| Oct 27, 2022 | adjusted earnings, before special items | Q4 FY2022 | $0.92 – $0.99 | New |
| Oct 27, 2022 | adjusted earnings, before special items | FY2022 | $3.53 – $3.60 | Lowered |
| Oct 27, 2022 | U.S. GAAP earnings | Q4 FY2022 | $0.60 – $0.67 | New |
| Oct 27, 2022 | U.S. GAAP earnings (loss) | FY2022 | -$4.52 – -$4.45 | Lowered |
| Oct 27, 2022 | sales growth on a constant currency basis | FY2022 | +23% | Raised |
| Oct 27, 2022 | sales growth | FY2022 | +17% – +18% | Lowered |
| Jul 28, 2022 | adjusted EPS | FY2022 | $3.60 – $3.70 | Lowered |
| Jul 28, 2022 | adjusted earnings, before special items | Q3 FY2022 | $0.79 – $0.83 | New |
| Jul 28, 2022 | U.S. GAAP earnings | Q3 FY2022 | $0.46 – $0.50 | New |
| Jul 28, 2022 | U.S. GAAP EPS | FY2022 | $1.82 – $1.92 | Lowered |
| Jul 28, 2022 | operational sales growth | FY2022 | +2% – +3% | Lowered |
| Apr 28, 2022 | adjusted earnings, before special items, per diluted share | Q2 FY2022 | $0.86 – $0.89 | New |
| Apr 28, 2022 | adjusted earnings, before special items, per diluted share | FY2022 | $4.12 – $4.20 | Lowered |
| Apr 28, 2022 | U.S. GAAP earnings per diluted share | Q2 FY2022 | $0.48 – $0.51 | New |
| Apr 28, 2022 | U.S. GAAP earnings per diluted share | FY2022 | $2.35 – $2.43 | Lowered |
| Apr 28, 2022 | sales growth on a reported basis | Q2 FY2022 | +26% | New |
| Apr 28, 2022 | sales growth on a constant currency basis | Q2 FY2022 | +29% – +30% | New |
| Apr 28, 2022 | sales growth on an operational basis | Q2 FY2022 | +4% | Lowered |
| Apr 28, 2022 | sales growth on a reported basis | FY2022 | +23% – +24% | Lowered |
| Apr 28, 2022 | sales growth on a constant currency basis | FY2022 | +25% – +26% | Lowered |
| Apr 28, 2022 | sales growth on an operational basis | FY2022 | +3% | Lowered |
| Feb 17, 2022 | adjusted earnings, before special items | Q1 FY2022 | $0.79 – $0.82 | New |
| Feb 17, 2022 | adjusted earnings, before special items | FY2022 | $4.25 – $4.35 | New |
| Feb 17, 2022 | U.S. GAAP earnings | Q1 FY2022 | $0.46 – $0.49 | New |
| Feb 17, 2022 | U.S. GAAP earnings | FY2022 | $2.91 – $3.01 | New |
| Feb 17, 2022 | sales growth | Q1 FY2022 | +24% – +25% | New |
| Feb 17, 2022 | sales growth on a constant currency basis | Q1 FY2022 | +27% – +28% | New |
| Feb 17, 2022 | sales growth | FY2022 | +24% – +25% | New |
| Feb 17, 2022 | sales growth on a constant currency basis | FY2022 | +26% – +27% | New |
| Oct 28, 2021 | adjusted earnings, before special items, per diluted share | Q4 FY2021 | $1.00 – $1.04 | New |
| Oct 28, 2021 | adjusted earnings, before special items, per diluted share | FY2021 | $3.58 – $3.62 | New |
| Oct 28, 2021 | U.S. GAAP earnings per diluted share | Q4 FY2021 | $0.75 – $0.79 | New |
| Oct 28, 2021 | U.S. GAAP earnings per diluted share | FY2021 | $2.82 – $2.86 | New |
| Oct 28, 2021 | sales growth on a reported basis | Q4 FY2021 | +3% – +4% | New |
| Oct 28, 2021 | sales growth on a constant currency basis | Q4 FY2021 | +4% – +5% | New |
| Oct 28, 2021 | sales growth on an operational basis | Q4 FY2021 | +3% – +4% | Lowered |
| Oct 28, 2021 | sales growth on a reported basis | FY2021 | +7% – +8% | New |
| Oct 28, 2021 | sales growth on a constant currency basis | FY2021 | +5% – +6% | New |
| Oct 28, 2021 | sales growth on an operational basis | FY2021 | +4% – +5% | Lowered |
Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.
Press releases
Releases Baxter International filed with the SEC as exhibits to Form 8-K or 6-K
- Results
- Update
- News
- News
- News
- Results
- Update
- Results
- Update
- Update
- Results
- News
- News
- News
- News