Baxter International Inc. (NYSE: BAX) on Thursday announced financial results for the fourth quarter of 2024. The medical device maker’s sales increased modestly during the quarter.
- Fourth-quarter sales from continuing operations were $2.75 billion, up 1% on a reported basis and 2% on a constant currency basis
- US sales from continuing operations in Q4 totaled $1.51 billion, remaining flat on a reported basis
- International sales from continuing operations edged up 1% annually $1.24 billion during the three months
- Medical Products & Therapies sales were flat at reported rates and grew low single digits at constant currency rates
- Pharmaceutical sales grew high single digits at both reported and constant rates
- The company reported a net loss of $512 million or $1.00 per share for Q4, compared to net income of $245 million or $0.48 per share in the year-ago quarter
- Gross margin decreased 13% year-over-year to $959 million in Q4 from $1.1 billion a year earlier
- On an adjusted basis, the company reported earnings of $0.77 per share for the December quarter, down 9% YoY