Q4 2024 Baxter International Inc Earnings Call Transcript
Key Points
- Baxter International Inc (BAX) reported fourth-quarter 2024 global sales from continuing operations of $2.75 billion, which increased 1% on a reported basis and 2% on a constant currency basis, exceeding prior guidance.
- The company successfully launched the Novum IQ infusion pump platform in the United States, contributing to a 50% growth in their infusion business in 2024.
- Baxter International Inc (BAX) completed the divestiture of its non-core BioPharma Solutions business, positioning the company to focus on core operations and drive profitable growth.
- The company reported a full-year 2024 adjusted earnings per share from continuing operations of $1.89, an increase of 11% over the prior year.
- Baxter International Inc (BAX) anticipates full-year 2025 sales growth of 5% to 6% on a reported basis, with operational sales expected to grow 4% to 5%.
- Hurricane Helene negatively impacted Baxter International Inc (BAX)'s sales by approximately $110 million in the fourth quarter of 2024.
- The Healthcare Systems & Technologies segment experienced a 1% decline in sales for the quarter, with Front Line Care sales declining 8%.
- The company faces a negative impact from foreign exchange, which is expected to reduce 2025 sales growth by approximately 200 basis points.
- Baxter International Inc (BAX) is dealing with stranded costs following the divestiture of its Kidney Care business, which it aims to offset by 2027.
- The company is undergoing a CEO transition, which may introduce uncertainty in strategic direction and execution.
Good morning, ladies and gentlemen, and welcome to Baxter International fourth-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this call is being recorded by Baxter and its copyrighted material. It cannot be recorded or rebroadcast without Baxter's permission. If you have any objections, please disconnect at this time.
I would now like to turn the call over to Ms. Clare Trachtman, Senior Vice President, Chief Investor Relations Officer at Baxter International. Ms. Trachtman, you may begin.
Good morning and welcome to our fourth-quarter 2024 earnings conference call. Joining me today are Brent Shafer, Baxter's Chair and Interim Chief Executive Officer; Joel Grade, Baxter's Executive Vice President and Chief Financial Officer; and Heather Knight, Baxter's newly appointed Chief Operating Officer.
On the call this morning, we will be discussing Baxter's fourth-quarter and full-year 2024 results, along with our
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