Earnings Summary: Baxter International reports higher Q4 sales and adj. profit

Medical device maker Baxter International Inc. (NYSE: BAX) has announced financial results for the fourth quarter of 2023, reporting higher revenues and adjusted net income.

• Fourth-quarter sales from continuing operations were $3.89 billion, up 4% on a reported basis and 3% on a constant currency basis
• US sales from continuing operations totaled $1.82 billion during the three months, an increase of 2%; International sales rose 6% to $2.07 billion.
• Earnings per share from continuing operations decreased to $0.14 per share in Q4 from $0.28 per share in the same period of 2022
• Q4 net income from continuing operations dropped to $245 million from $181 million in the prior year quarter
• On an adjusted basis, earnings from continuing operations were $0.88 per share in the December quarter, vs. $0.78 per share last year
• In Q4, Baxter announced the launch of digital image capture capability for eye exams using its Welch Allyn PanOptic Plus Ophthalmoscope
• The company launched its next-generation Hillrom Progressa+ ICU bed in the US in the fourth quarter