Healthcare company Baxter International (NYSE:BAX) will be reporting earnings this Thursday before market hours. Here’s what to expect.
Baxter beat analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $2.63 billion, up 5.4% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ constant currency revenue estimates and an impressive beat of analysts’ EPS estimates.
Is Baxter a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Baxter’s revenue to grow 4.7% year on year to $2.82 billion, in line with the 4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.61 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Baxter has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Baxter’s peers in the medical devices & supplies - diversified segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Boston Scientific delivered year-on-year revenue growth of 22.8%, beating analysts’ expectations by 3.4%, and Neogen reported a revenue decline of 4.8%, topping estimates by 1.3%. Boston Scientific traded up 2.9% following the results.
Read our full analysis of Boston Scientific’s results here and Neogen’s results here.
Investors in the medical devices & supplies - diversified segment have had fairly steady hands going into earnings, with share prices down 1.8% on average over the last month. Baxter is down 5.2% during the same time and is heading into earnings with an average analyst price target of $37.09 (compared to the current share price of $28.70).
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