Baxter Earnings Cheat Sheet: Beats Estimates, Shareholders Smiling

S&P 500 (NYSE:SPY) component Baxter International Inc (NYSE:BAX) swung to a profit in the first quarter and beat Wall Street’s expectations in the process. Baxter International Inc is a company which develops and manufactures healthcare products that save and sustain the lives of people with chronic, acute illnesses.

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Baxter International Inc Earnings Cheat Sheet for the First Quarter

Results: Swung to a profit of $577 million (98 cents/diluted share) in the quarter. The medical instruments and supplies company had a net loss of $63 million or a loss of 11 cents per share in the year earlier quarter.

Revenue: Rose 12.7% to $3.3 billion YoY.

Actual vs. Wall St. Expectations: BAX beat the mean analyst estimate of 93 cents/share. Estimates ranged from 90 cents per share to 94 cents per share.

Quoting Management: “We continue to implement measures to improve our commercial, operational, and scientific effectiveness in response to an evolving and challenging environment,” said Robert L. Parkinson, Jr., chairman and chief executive officer. “Baxter’s strong financial position provides us the flexibility to invest in and pursue opportunities that expand our diverse product portfolio with innovative products that save and sustain patient lives and position our company for enhanced growth.”

Key Stats: Over the last five quarters, revenue has increased 4.4% on average year over year. The biggest increase came in the most recent quarter, when revenue rose 12.7% from the year earlier quarter.

Competitors to Watch: C.R. Baird (NYSE:BCR), ICU Medical (NASDAQ:ICUI), Teleflex (NYSE:TFX), Hospira (NYSE:HSP), CryoLife (NYSE:CRY), Covidien (NYSE:COV), Becton, Dickinson (NYSE:BDX), CareFusion (NYSE:CFN), Haemonetics (NYSE:HAE), NxStage (NASDAQ:NXTM) and Talecris Biotherapeutics Holdings Corp. (NASDAQ:TLCR).

Today’s Performance: Shares of BAX are trading at $55.18 as of April 21, 2011 at 10:38 AM ET, up 1% from the previous close.


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