Baxter Sees Q2 Profit Below View

(RTTNews) - Baxter International Inc. (BAX) said it expects U.S. GAAP earnings of $0.54 to $0.57 per share and adjusted earnings, before special items, of $0.72 to $0.75 per share for second-quarter 2021. Analysts polled by Thomson Reuters expect the company to report earnings of $0.78 per share for the second-quarter. Analysts' estimates typically exclude special items.

The company expects sales growth of 14% to 15% on a reported basis, 8% to 9% on a constant currency basis and 7% to 8% on an operational basis for second-quarter 2021.

For full-year 2021, Baxter now expects U.S. GAAP earnings of $2.85 to $2.93 per share and adjusted earnings, before special items, of $3.47 to $3.55 per share. Previously, the company expected adjusted earnings, before special items, of $3.35 to $3.43 per share. Analysts expect annual earnings of $3.40 per share.

The company expects annual sales growth of 8% to 9% on a reported basis, 5% to 6% on a constant currency basis and 4% to 5% on an operational basis. Previously, the company projected sales growth of 7% to 8% on a reported basis and 4% to 5% on a constant currency basis.