Earnings summary

Baxter International Inc Q3 2025 results

Reported 2025-10-30Full transcript →

Snapshot

Baxter International Inc reported $2.83B of revenue in Q3 2025, up 5.0% year over year, with diluted EPS of $-0.09 and an operating margin of 6.1%.

Revenue
$2.83B
YoY growth
+5.0%
Diluted EPS
$-0.09
Operating margin
6.1%
$2.83B
Revenue
+5.0%
YoY growth
$-0.09
Diluted EPS
6.1%
Operating margin
01 Key takeaways

What management said

  • Today we'll discuss Baxter's third quarter 2025 results along with an update to our full year 2025 outlook and newly issued fourth quarter 2025 guidance.
  • This morning, a press release was issued with our preliminary earnings results and updated outlook.
  • I am pleased to be here for my first earnings call as CEO and look forward to getting to know everyone here better as the quarters progress.
  • This is a business whose portfolio has proven resilient over its almost 100 year history, one that has delivered significant revenues and attractive operating margins and generated solid cash flow over the years.
  • These results reflect challenges in two divisions, the Infusion Therapies and Technologies division within the Medical Products & Therapies segment and the Injectables and Anesthesia division within the Pharmaceuticals segment.
  • Of course, there have been challenges in certain areas that have hampered growth and consistent execution, and we expect our growth algorithm to continue to be pressured in the near-term.
  • The Spectrum IQ LVP now operates on a shared gateway with Novum IQ Syringe, creating a cohesive user experience and is built for the future with EMR interoperability, enhanced software, and innovative analytical capabilities.
  • It is from the basis of a strong balance sheet that we will be better able to invest in the business, support innovation, and deliver and return increased value to our shareholders.
  • This means focusing on improved cash flow and taking a consistent approach to our capital allocation objective.
  • It is in this context that we and the Board intend to reduce the quarterly dividend to $0.01 per share, beginning with the dividend to be paid in January 2026.
  • Earlier this month we rolled out Baxter GPS, our new growth and performance system aimed at driving continuous improvement and a growth and performance mindset.
  • On the bottom line, total company adjusted earnings from continuing operations were $0.69 per share.
Read the full Q3 2025 transcript
SourcesCompany financials · earnings call Last updated

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