Baxter International Lowers FY22 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, health care company Baxter International Inc. (BAX) lowered its earnings, adjusted earnings and sales growth for the full-year 2022. The company also provided outlook for the second quarter.

For fiscal 2022, the company now projects earnings in a range of $2.35 to $2.43 per share and adjusted earnings in a range of $4.12 to $4.20 per share on sales growth of 23 to 24 percent on a reported basis and 25 to 26 percent on a constant currency basis and about 3 percent on an operational basis.

Previously, the company expected earnings in a range of $2.91 to $3.01 per share and adjusted earnings in a range of $4.25 to $4.35 per share on sales growth of 24 to 25 percent on a reported basis and 26 to 27 percent on a constant currency basis and about 4 percent on an operational basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.29 per share on sales growth of 24.4 percent to $15.90 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company anticipates earnings in a range of $0.48 to $0.51 per share and adjusted earnings in a range of $0.86 to $0.89 per share on sales growth of about 26 percent on a reported basis and 29 to 30 percent on a constant currency basis and about 4 percent on an operational basis.

The Street is looking for earnings of 0.98 per share on revenue growth of 25.2 percent to $3.88 billion for the quarter.