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Baxter Lifts Annual Outlook After Strong Q2 Beat, Medical Devices Sales

On Tuesday, Baxter International Inc (NYSE:BAX) reported second-quarter adjusted EPS of $0.68, beating the consensus of $0.66 and the management guidance of $0.65-$0.67. The company reported sales of $3.812 billion, which beat the consensus of $3.755 billion. Sales increased 3% on a reported basis and 4% on a constant currency basis, exceeding the company’s previously issued guidance of approximately 1% and 2% to 3%, respectively. Related: Carlyle’s $4B Purchase Of Baxter’s Kidney Division Backed By Ares And HPS Financing. Baxter achieved better-than-expected sales growth across all segments in the second quarter at constant currency. Pharmaceuticals segment sales increased 11% to $602 million, driven by the ongoing impact of new product ...