Companies /Healthcare
Baxter International Inc
NYSE: BAX Medical Instruments & Supplies
$23.50
▼ $1.96 (−7.70%) today
Markets closed · 9:31am ET

Baxter International (BAX) Q3 2026 Earnings

Reported Oct 29, 2026, 7:18am ET · SEC source
$0.58
Beat +11.93%
EPS · est. $0.52 Adjusted

Adjusted figure excludes a $253 million pre-tax gain on debt extinguishment ($0.38 per share), intangible amortization of $145 million pre-tax ($0.21), business optimization charges of $61 million ($0.09), business transformation costs of $20 million ($0.03), a $27 million net legal benefit ($0.04), and $41 million of tax matters ($0.08); GAAP diluted EPS was $0.57.

$3.0B
Beat +2.33%
Revenue · est. $2.9B
3 quarters
Consecutive EPS beats

How Did BAX Stock React to Q3 2026 Earnings?

% change · around the report
−15%−10%−5%0Oct 29Oct 30report 7:18am ETearnings−1.3%−14.3%
−15%−10%−5%0Oct 29Oct 30earnings−1.3%−14.3%
BAX −14.3%S&P 500 −1.3%
−15%−10%−5%0Oct 29Oct 30report 7:18am ETearnings−3.1%−14.3%
−15%−10%−5%0Oct 29Oct 30earnings−3.1%−14.3%
BAX −14.3%NASDAQ −3.1%
−8%−4%0+4%Oct 28Oct 30report 7:18am ETearnings−1.0%−9.5%
−8%−4%0+4%Oct 28Oct 30earnings−1.0%−9.5%
BAX −9.5%S&P 500 −1.0%
−8%−4%0+4%Oct 28Oct 30report 7:18am ETearnings−2.7%−9.5%
−8%−4%0+4%Oct 28Oct 30earnings−2.7%−9.5%
BAX −9.5%NASDAQ −2.7%
−7.70%
Day of report

Did BAX Beat Earnings? Q3 2026 Results

Yes. Baxter International reported Q3 2026 earnings of $0.58 a share on Oct 29, 2026, beating the $0.52 consensus estimate by 11.9%. Revenue was $3.0B against a $2.9B estimate.

Baxter International posted a stronger-than-expected third quarter of 2026, with adjusted diluted EPS of $0.58 beating the $0.52 consensus by nearly 12% and revenue of $2.98 billion clearing estimates by 2.33% on 5% year-over-year growth. The results spanned every segment, with Medical Products and Therapies rising 6%, led by a 12% surge in Advanced Surgery, and Healthcare Systems and Technologies advancing 4%. The headline narrative was shaped by a $253 million pre-tax gain on debt extinguishment, the result of a $600 million cash tender that retired $864 million in debt, a deliberate move to accelerate deleveraging and defend investment-grade credit standing. Adjusted operating income climbed to $432 million, though adjusted EPS fell 16% from a year ago as the adjusted tax rate jumped to 18.3% from 5.1%. Free cash flow reached $448 million in the quarter alone, bringing the year-to-date total to $705 million. Management raised its full-year adjusted EPS guidance floor to $2.05, with the range now $2.05 to $2.15, while lifting the organic sales growth outlook to 3% to 4%.

Key Takeaways
  • Infusion Systems, Drug Compounding and IV Solutions drove Infusion Therapies & Platforms growth
  • Continued strong global demand for Advanced Surgery products (+12%)
  • Global Surgical Solutions and Patient Support Systems drove Care & Connectivity Solutions growth
  • Growth in Front Line Care
  • Reduced Injectables sales partially offset growth
  • Higher effective tax rate reduced adjusted EPS 16% year over year
  • $253 million pre-tax gain on debt extinguishment boosted GAAP results

“We delivered a strong third quarter, with growth across all segments and divisions globally.”

Baxter International CEO, on the earnings call

What Is Baxter International's Outlook?

Baxter raised its full-year 2026 outlook: - Reported sales growth from continuing operations: 4% to 5% (previously 3% to 4%). - Organic sales growth: 3% to 4% (previously 2% to 3%). - Adjusted EPS from continuing operations: $2.05 to $2.15 (previously $1.95 to $2.15). The guidance assumes roughly a 30 bps impact from the Kidney Care MSA and about a 100 bps foreign exchange impact.

BAX YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$900.0M$1.8B$2.7B$2.8B$3.0BRevenue$950.0M$994.0MGross Profit$172.0M$225.0MOperating Income$35.0M$294.0MNet Income
$0$900.0M$1.8B$2.7BRevenueGross ProfitOperating IncomeNet Income
BAX income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $3.0B $2.8B +5.0%
Gross Profit $994.0M $950.0M +4.6%
Operating Income $225.0M $172.0M +30.8%
Net Income $294.0M $35.0M +739.1%

BAX Revenue by Segment

Medical Products & Therapies
Infusion Therapies & Technologies$1.8B+5.0%
Healthcare Systems & Technologies
Pharmaceuticals
Care & Connectivity Solutions$498.0M+5.0%
Injectables & Anesthesia
Advanced Surgery$342.0M+12.0%
Drug Compounding

BAX Revenue by Geography

United States$1.6B+3.0%
Rest of World$1.4B+7.0%

Figures from SEC filings and company reports. Not investment advice.