Baxter International Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Tuesday, health care company Baxter International Inc. (BAX) raised its earnings, adjusted earnings and sales growth guidance for the full-year 2024. The company also provided outlook for the third quarter.

For the third quarter, the company anticipates adjusted earnings in a range of $0.77 to $0.79 per share on sales growth of 3 to 4 percent on a reported basis and constant currency basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.74 per share on revenues of $3.79 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects adjusted earnings in a range of $2.93 to $3.01 per share on sales growth of about 3 percent on a reported and constant currency basis.

Previously, the company expected adjusted earnings in the range of $2.88 to $2.98 per share on sales growth of about 2 percent on a reported basis and 2 to 3 percent on a constant currency basis.

The Street is looking for earnings of 2.92 per share on revenue growth of 2.0 percent to $15.12 billion for the quarter.

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