Baxter (BAX) Beats on Q2 Earnings; Sales Meet Estimates
Headquartered in Deerfield, Illinois, Baxter International Inc. BAX is a global medical products and services company. Baxter reports its operating results based on three reportable geographic segments: Americas (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific). Further, its renal portfolio is for patients with kidney failure/disease and their healthcare providers.
Currently, Baxter International has a Zacks Rank #3 (Hold) but that could change following its second-quarter 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: Baxter’s adjusted earnings of 77 cents per share beat the Zacks Consensus Estimate of 71 cents and increased by 22% from the year-ago quarter.
Revenues: Baxter posted sales of $2.84 billion, which came in line with the Zacks Consensus Estimate of $2.84 billion. Revenues increased 9.1% year over year and 5% at constant currency (cc).
Baxter International Inc. Price and EPS Surprise
Baxter International Inc. Price and EPS Surprise | Baxter International Inc. Quote
Key Stats: The company’s core Renal Care segment recorded sales worth $931 million in the reported quarter, up 9% year over year.
Major Factors: For 2018 Baxter expects adjusted earnings to be within $2.94 to $3. Revenues are expected to grow by 6% on a year-over-year basis and 5% at cc.
For the third quarter of 2018, the company expects sales growth of approximately 3% year over year and 3-4% at cc. Earnings per share is expected between 72-74 cents.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this Baxter International report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Baxter International Inc. (BAX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
