logo-loader
viewBaxter International

Lower expenses help dialysis firm Baxter International report above-forecast fourth-quarter earnings

The medical products firm saw its earnings rise by 19% to US$243mln, or 44 US cents a share, up from US$205mln, or 37 US cents a share at the same stage a year earlier.

Hospital theatre
Baxter’s net sales rose by 2% to US$2.65bn, also slightly above analyst expectations

Lower expenses helped medical devices group Baxter International Inc. (NYSE:BAX) report an above-forecast rise in fourth-quarter earnings.

The maker of dialysis machines and medical products saw its earnings rise by 19% to US$243mln, or 44 US cents a share, up from US$205mln, or 37 US cents a share at the same stage a year earlier.

On an adjusted basis, Baxter’s earnings rose to 57 US cents a share in the final quarter, above estimates for 52 US cents, and up from 43 US cents a share a year earlier.

The US firm’s net sales rose by 2% to US$2.65bn, also slightly above the $2.64bn analysts had expected.

Baxter said its marketing and administrative expenses for the quarter fell by 10% from a year ago, and research and development expenses decreased by 2%.

For the full-year, the group’s adjusted earnings per share were up 42% to US$1.96.

The company said it expects adjusted earnings per share to be in a range of US$2.10 to US$2.18 in 2017.

José E. Almeida, Baxter’s chairman and chief executive officer said: “We’ll continue to build on this momentum in 2017 and beyond, driven by new product launches, effective portfolio management and further progress on our business transformation initiatives – all in support of delivering sustainable top-quartile results for our shareholders, and advancing our mission to save and sustain lives.”

Quick facts: Baxter International

Price: 87.21 USD

NYSE:BAX
Market: NYSE
Market Cap: $44.38 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

KORE Mining is cashed up and ready for exploration on 4 unique projects

KORE Mining (CVE: KORE) CEO Scott Trebilcock joined Steve Darling from Proactive to discuss the company, that is exploring 4 properties including their Imperial project which they just completed a positive PEA. Trebilcock tells Proactive about that gold project and also about their...

13 hours, 51 minutes ago

2 min read