Baxter Reports Second-Quarter 2020 Results

Second-quarter revenue of $2.7 billion decreased 4% on a reported basis, 1% on a constant currency basis and 2% on an operational basis

Second-quarter U.S. GAAP earnings per share (EPS) of $0.48 declined 20%; adjusted EPS of $0.64 declined 24%

Baxter expects full-year 2020 reported sales growth between -1% to +1%; constant currency and operational sales growth of flat to up low single digits

Baxter expects full-year U.S. GAAP EPS of $2.40 to $2.50; adjusted EPS of $3.00 to $3.10

DEERFIELD, IL (STL.News) Baxter International Inc. (NYSE:BAX), a leading global medical products company, today reported results for the second quarter of 2020 and provided its outlook for full-year 2020.

“Baxter colleagues worldwide continue to address the urgent needs of patients, clinicians and first responders in the ongoing battle against COVID-19, while bringing our life-sustaining products to all those who depend on us for chronic and acute care,” said José (Joe) E. Almeida, chairman and chief executive officer.  “Our medically essential portfolio, geographic reach, and the power of our business transformation strengthen our underlying resilience as we navigate today’s unprecedented landscape, position for tomorrow’s challenges, and embrace our strategic opportunities.  I am proud of our 50,000 employees, who are motivated by our Mission to Save and Sustain Lives and dedicated to enhancing value for all of our stakeholders.”

NOTE: this is NOT the complete release.