Why Is Dialysis Device And Kidney Care Provider Baxter Stock Trading Higher Today?

Baxter International Inc (NYSE: BAX) posted Q3 revenue of $3.71 billion, which beat the consensus of $3.69 billion, up 3% Y/Y on a reported basis and 2% on a constant currency.

Adjusted EPS of $0.82 surpassed the consensus of $0.67 and the management guidance of $0.78-$0.80. Adjusted EPS from continuing operations stood at $0.68.

Q3 sales performance from continuing operations and, in the aggregate, exceeded Baxter's previously announced guidance, driven by new product launches in Pharmaceuticals, solid demand for Medical Products & Therapies products, and continued improvement in product availability in Healthcare Systems & Technologies. 

Also Read: What's Going On With Kidney Dialysis Provider Stocks Today?

Sales performance in Kidney Care came in better than the company's expectations.

Guidance: Baxter expects Q4 FY23 sales growth from continuing operations of 1%-2% on a reported basis and approximately 1% on a constant currency basis.

Baxter expects Q4 FY23 adjusted EPS from continuing operations of $0.85-$0.88 versus consensus of $0.84.

For FY23, Baxter expects sales growth from continuing operations of 1%-2% on a reported basis and approximately 2% on a constant currency basis.

Baxter expects FY23 adjusted EPS from continuing operations of $2.57-$2.60 versus consensus of $2.59.

Price Action: BAX shares are up 4.48% at $34.26 on the last check Thursday.