Baxter (BAX) Tops Q4 EPS by 5c, Offers Outlook

Baxter (NYSE: BAX) reported Q4 EPS of $0.64, $0.05 better than the analyst estimate of $0.59. Revenue for the quarter came in at $2.8 billion versus the consensus estimate of $2.76 billion.

2018 Financial Outlook

Baxter is providing its outlook for the full-year and first quarter of 2018:

• For full-year 2018, Baxter expects sales growth of 6 to 7 percent on a reported basis and approximately 4 percent on both a constant currency and operational basis. Operational sales adjust for the impact of foreign exchange, generic competition for cyclophosphamide and the benefit of the Claris acquisition. The company expects earnings from continuing operations, before special items, of $2.72 to $2.80 per diluted share.
• For the first quarter, the company expects sales growth of approximately 5 to 6 percent on a reported basis, or 1 to 2 percent on a constant currency basis. Operational sales are expected to be flat to up 1 percent as compared to the prior-year period. The company expects earnings from continuing operations, before special items, of $0.60 to $0.62 per diluted share.

The reconciliations between the projected 2018 adjusted diluted earnings per share and projected GAAP diluted earnings per share follows:

(Street sees FY EPS of $2.72 on revenue of $11.12 billion and Q1 EPS of $0.63 on revenue of $2.62 billion)

For earnings history and earnings-related data on Baxter (BAX) click here.

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