Baxter Q2 revenue beats; GAAP loss; adjusted EPS down 24%; KidneyCare spinoff named Vantive

BAXTER INTERNATIONAL INC

2023-Q2 EPS reported -$0.19 revenue$7,220,000,000

Q2 continuing ops revenue $3.71B, +3% reported (+4% constant currency), above guidance.
GAAP EPS from continuing ops ($0.39); total GAAP EPS ($0.28); adjusted total EPS $0.66, -24% YoY.
FY23 adjusted EPS from continuing ops guidance: $2.49-$2.57 (BPS not sold) or $2.54-$2.62 (BPS sold Sept 30).
Kidney Care spinoff to be named Vantive; Chris Toth named CEO; expected by July 2024.
Definitive agreement to divest BioPharma Solutions to Advent/Warburg Pincus; closing expected H2 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BAXTER INTERNATIONAL INC reported the second quarter of 2023 results: revenue $3.71 billion, net income ($141 million), EPS ($0.28) per diluted share.

Period: the second quarter of 2023
Revenue: $3.71 billion
Net income: ($141 million)
EPS: ($0.28) per diluted share
Result: reported results

Exact text from the filing

an effort to drive greater value for our stakeholders.” Second-Quarter Financial Results Worldwide sales from continuing operations in the second quarter totaled approximately $3.71 billion and sales from discontinued operations totaled $142 million in the quarter. This performance represented an increase of 3% on a reported basis and 4% on a constant currency

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Source: SEC EDGAR

accession 0001628280-23-025823

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