Baxter International Again Slashes FY22 Outlook - Update

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

For fiscal 2022, the company now projects earnings in a range of $1.82 to $1.92 per share and adjusted earnings in a range of $3.60 to $3.70 per share on sales growth in the high-teens on a reported basis, in the mid-20s on a constant currency basis and 2 to 3 percent on an operational basis.

Previously, the company expected 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.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.13 per share on sales growth of 23.2 percent to $15.75 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company anticipates earnings in a range of $0.46 to $0.50 per share and adjusted earnings in a range of $0.79 to $0.83 per share on sales growth in the high-teens on a reported basis, in the mid-20s on a constant currency basis and in the low single-digit on an operational basis.

The Street is looking for earnings of 1.10 per share on revenue growth of 24.6 percent to $4.02 billion for the quarter.