Travis Steed

Any other color you can give on getting confidence in that business returning to growth in the back half

we think about more Q1 first half being more in line with kind of the Q4 growth and then improve from there over the second half

I wanted to talk about the sustainability of the device business

curious how you're seeing the pipeline shape up in diagnostics and medtech

For the few hundred million half-year impact, just want to make sure that assumes kind of current rates as they are today

I wanted to ask about EP growth, so still strong high single digits in the quarter

just curious if you are assuming share gains or share losses in infusion pumps this year

Is revenue going to be down low single digits, down mid single digits? Are gross margins, op margins flat, down sequentially?

At what stage do you think Baxter is willing to start doing more acquisitions and willingness to take on margin dilution from those acquisitions?

the $100 million guide reduction on revenue this year, how much of that is Spectrum versus IV Solutions versus Pharma? And then on the Spectrum, I guess that's like a $200 million product annualized

There was a little bit of a delta between your gross margin consensus. I assume that's the reclassified certain functional expenses from COGS to SG&A. So I wanted to touch on that

I was just thinking about how you think about the book of saline business kind of before and after the hurricane. Did you see customers add a second source

How should we think about some of these adjustments going forward? When do you think you can kind of get back to kind of 80% free cash flow conversion?

the comps do get tougher. So when I think about how some of the Alaris, China, vaccines headwinds play out

I wanted to ask about the guidance, both the Q2 revenue guide, the step down in Q2, and the EPS guide, as well as kind of the full year

how does that kind of reflect the conservatism you've kind of put in place. You can have confidence that this is a year that you can deliver on the initial guide

how do you kind of see this business growing kind of versus the 5.5% plus longer term?

Chris, on the Q4 EPS, I think there's some investments there. Anything else kind of driving the change in the Q4 EPS?

I wanted to ask about the Life Sciences separation. I know you heard said it was on track

Why now? How you're thinking about the different separation options, spin versus sell? And how you manage the dissynergies?

On the LRP, was the message more were not achieving at 10%? Or was it more we'll kind of wait and see how it all plays out

I know it's a small amount, but it did add -- could add a point of growth to the total company. What businesses did that impact?

if there was any kind of update on how you're thinking about the tax rate going forward

how you kind of see the pluses and minuses shaking up over the next few years versus the last couple of years

It was really strong margin quarter. I don't know if that's the EP growth turning margin accretive

how do you balance that it's gonna take a larger deal to kinda move the needle on such a larger revenue base

When do you expect that to be complete? What's the goal for the outcome?

kind of Q2 revenue, kind of where you want the Street to shake out and kind of the cadence for revenue growth for total company

Gross margin's down in 26. Just trying to understand exactly how you're getting operating margin leverage. Is SG and A not growing on 26?

your willingness to take short term dilution to create longer term value and how you kind of balance this short term for the long term?

is that something where maybe that product helps new starts as it launches? And then also maybe talk about the margin impact. I know you left gross margin guide unchanged, so how much inflation are...

how we should think about the rollout of that, the impact on in margins, and and also kind of the use of that to to open up new markets

there's been a lot of attention on Street '26 estimates and what your growth might look at -- look like in '26. And just curious if there's any color you could share with us today

what you're kind of seeing on new starts in the non-insulin opportunity and kind of the confidence at this stage in the year to be able to raise the full year revenue guidance

the 50 basis points of inflation that you kind of built in with supply chain, if that's kind of directly related to tariffs

the question is really, like, giving you the confidence to still say, you know, second half launch

What are you seeing from a capacity standpoint for structural heart doctors when you're in the field

the TAVR NCD. You called it a potential tailwind later this year. Just wanted to kind of think about how you're seeing that help

anything to kind of call it for cadence over the year? And wasn't clear on an organic basis what Q1 was to me since I didn't have the FX impact in Q1

since we were just at TCT a couple of days ago and you had a 7-year and 10-year data there, maybe just talk about now that you've had a few days to talk to doctors

the TAVR growth in this quarter, the 10.6%. It sounded like just a modest contribution from the Boston exit. So if you can just maybe talk about some of your underlying trends

the international competitor that's exited the market. When you think about the share you're capturing there? Is it kind of in line with your international share above or below

any color you wanna provide on how to model Q2 TAVR in the remainder of the year in the second half

capacity constraints and the potential for the TAVR NCD to loosen some of the requirements or potentially broaden some of the number of centers

get an update on Class II TR, the functional mitral repair and tricuspid repair products. Just kind of curious how those trials are going

I know there's a selling day headwind. If you could just quantify that if it's sort of 150 basis points

Curious what you're seeing there? If you're seeing any green shoots or things changing on the margin?

why it reiterate the full-year revenue guidance and not let more of that flow-through for Q4

just make sure you're on track for the $30 million in this year

how you see the digital and data road map for Intuitive. And there's also some hints on biopsy and the ROSE acquisition

kind of curious kind of what you saw in the macro and what you kind of baked in on that front

curious how you think about incorporating these additional advanced imaging features into the robotic ecosystem?

I wanted to ask about the FDA approval for the cardiac non-Force Feedback instruments. Just trying to get a little more color on what that is and what it opens up

Curious if you could elaborate on that. Cardio is an area that you guys are clearly investing in, and curious what you see as the problems with the current standard of care and places you could kin...

You talked also about some of the XIs are being redeployed within the same hospitals to be used in alternative sites. And curious, like, when you see the hospital buy the da Vinci V and keep the ol...

It was kind of one of the highest margins you've had in a long time even with the tariff headwind. I don't know how much of this is the new facility coming on

could you also potentially extend useful life on your own instrumentation as well? Just kind of thinking about like longer term, how you're going to protect the business?

Just the 170 basis point impact in 2025. Just curious how to think about that on an annualized basis, any way to kind of break out how much of that is China versus Mexico

it sounds like you kind of called out at the risk, but you're not seeing it yet. Just trying to think about how this compares to like 2022

kind of the high and low end, how much of that's R&D versus SG&A? And any color there on how that can shape up

You're kind of crossing over $1 billion a year in R&D now and even after launching DV5. So maybe help us understand the R&D investment opportunity

I just wanted to ask about the accelerating revenue growth for next year and also the commitment to grow earnings in high single digits. I guess when you think about the overall portfolio, obviousl...

Is the growth acceleration, excluding the selling day -- yes. There's an extra selling week next year. Is that -- is the growth acceleration excluding the extra selling day?

the implied second half guide around 6%. And I kind of think about it two buckets, the pipeline and then kind of the base business.

is the 7% operating profit, including or excluding tariffs, is there an extra week this year? And then why is there a diabetes EPS headwind this year

I wanted to ask on the guidance philosophy with the new CFO. It is confident enough to put out the 5% no range. What's being assumed on the pipeline on the revenue side?

why do you think the distributors destocked in the quarter? And why didn't you have kind of visibility in that ahead of time?

I wanted to ask about the type 2 retention comps. Just kind of curious what you're seeing there, why kind of call it out slowing

And what about the retention piece?

what percent of the new starts were type 2 this quarter? I think I missed that. And then when you think about the seasonality comments, is there any impact on the seasonality from the type 1, type ...

I just wanted to make sure we had understanding of how you kind of set this year's guidance versus prior years and kind of what's been baked in into 2026 versus what's left for upside

some kind of puts and takes on '26 and how we should think about the year with Libre integration possibly and Type 2 accelerating

type 2 and the new starts that accelerated this quarter. what do you think kind of drove that acceleration? Can the acceleration kind of continue in the back half of the year

what excited you about the role of Insulet, what you've learned in the first couple of weeks in the role

do you have any signs that someone else might be willing to pay a higher value than public investors are valuing parts of the business at

since there's been more focus on the health care IT business and some of the AI stuff that's going on

I don't know if there's anything onetime in Q4. It was a little light versus the [ Street ] in the quarter

It looks like already excluding SKUs, you're only 100 basis points away from market growth this year. How should we think about kind of that going forward

wanting to kind of dial into that a little bit and kind of what that means and how that could happen and the ability to kind of improve the free cash flow

there was a lot of moving parts in the quarter, order timing, patient recall, ERP, SKU rationalization

is there any kind of reason why we shouldn't think about this growth rate getting better? Or does decel for certain reasons or accelerate

if you could help us characterize how much of the tariff impact is tied up with the P&F business

I wanted to ask a little more on the tariffs in a way that you could help us kind of think about the mitigation efforts, how you're offsetting $0.40 of earnings here

is the P&F divestiture kind of the one big one? Or is this going to be other things coming potentially over the course of the next few years

does this still kind of signal that maybe you're willing to take on more risk to grow revenue now that your base is over $20-plus billion

your med surg business actually is probably one of the fastest growing medtech markets. At the moment. And just curious, like what's driving that growth

how do you think about tuck-ins in 2026 or maybe chunkier tuck-ins? And then Preston, how do you think about protecting margins with potential deals in 2026

question on the Siemens partnership that happened over the quarter in Neurovascular and if there's any more you can kind of say on kind of the goals and timing

is this quarter, you think kind of a low point in the growth and so we should kind of be sustaining this kind of double-digit growth going forward

There's some stuff in D.C. and Medicaid exchange cuts. I don't know how you're thinking about if there's any potential impact on that on the elective procedures?

I don't know if you could maybe help with how the business grew this quarter with the destock and Tele transitions and what gives confidence in double-digit growth

how much of that's being offset by currency? Any details on kind of how much of that exposure is by country? What the impact would be if the 90-day pause doesn't stick

the sustainability of this kind of higher revenue. You've gotten LIFEPAK going and several of the pipeline products

some of your new prioritized list of like focus areas for M&A. And is this going to be a period of kind of digestion? Or is this going to be a period of continued M&A?

how you're thinking about the cost of the Salesforce transition? Is there what you kind of baked in on margins from from that

the 120 basis points this quarter, does that come back at some point? Is it a continued headwind in '26?

the scratching the 6% growth in Q3, just to clarify, that's organic, so excluding the F&A acquisition, I just wanted to clarify that

The slightly higher comment was that higher than the 2.3% constant currency, or are days adjusted