BAX Q1 2026 Earnings
Reported Apr 30, 2026 at 7:17 AM ET · SEC Source
Q1 26 EPS
$0.36
BEAT +15.90%
Est. $0.31
Q1 26 Revenue
$2.70B
BEAT +3.27%
Est. $2.62B
vs S&P Since Q1 26
+16.6%
BEATING MARKET
BAX +18.7% vs S&P +2.0%
Market Reaction
Did BAX Beat Earnings? Q1 2026 Results
Baxter International posted better-than-expected first-quarter results but couldn't escape a sharp profit decline, as tariff-related costs and elevated manufacturing expenses weighed heavily on the period. The medical products company reported adjust… Read more Baxter International posted better-than-expected first-quarter results but couldn't escape a sharp profit decline, as tariff-related costs and elevated manufacturing expenses weighed heavily on the period. The medical products company reported adjusted diluted EPS of $0.36 from continuing operations, down 35% year-over-year, while revenue of $2.70 billion slipped 3.9% from a year ago, though management noted the comparison was unfavorable partly because the prior-year quarter benefited from a one-time reclassification of functional costs. Adjusted operating margin compressed to 11.0% from 14.9%, underscoring the margin pressure analysts have flagged as a persistent concern, with at least one price target reduction following the report. Segment results were mixed, with Pharmaceuticals standing out at $621.00 million on 7% reported growth, while Medical Products and Therapies faced headwinds from a shipment hold on its Novum IQ infusion pump. Despite the profit squeeze, Baxter reaffirmed its full-year 2026 outlook for flat to 1% reported sales growth and adjusted diluted EPS of $1.85 to $2.05, signaling confidence in its ongoing portfolio optimization efforts.
Key Takeaways
- • Drug Compounding strength with 30% reported growth driving Pharmaceuticals segment
- • Advanced Surgery continued strong global demand with 13% reported growth
- • International sales up 12% on reported basis, benefiting from favorable currency
- • Unfavorable year-over-year comparison due to prior year cost reclassification benefiting SG&A
- • Higher tariff-related costs and higher manufacturing costs including lower absorption
- • Lower Novum IQ LVP infusion pump sales due to shipment and installation hold
BAX Forward Guidance & Outlook
Baxter reiterated its full-year 2026 financial outlook: reported sales growth from continuing operations of flat to 1%, organic sales growth approximately flat (with approximately 30 bps impact from Kidney Care MSA and approximately negative 100 bps from foreign exchange), and adjusted diluted EPS from continuing operations of $1.85 to $2.05.
BAX YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
BAX Revenue by Segment
With YoY comparisons, source: SEC Filings
BAX Revenue by Geography
With YoY comparisons, source: SEC Filings
“Financial results for the quarter overall were in line with our expectations, and we are making progress to stabilize the business, embed a culture of continuous improvement, and strengthen execution.”
— Andrew Hider, Q1 2026 Earnings Press Release
BAX Earnings Trends
BAX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BAX EPS Trend
Earnings per share: estimate vs actual
BAX Revenue Trend
Quarterly revenue: estimate vs actual
BAX Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.31 | $0.36 | +15.90% | $2.70B | +3.27% |
| Q4 25 MISS FY | $0.54 | $0.44 | -17.80% | $2.97B | +5.28% |
| FY Full Year | — | $2.27 | — | $11.24B | — |
| Q3 25 BEAT | $0.60 | $0.69 | +15.40% | $2.84B | -1.47% |
| Q2 25 MISS | $0.61 | $0.59 | -3.12% | $2.81B | -0.45% |