Start 30 days free, no card. Full Pro access for a month, then decide. Start free
Loading
Start 30 days free, no card. Full Pro access for a month, then decide. Start free
Baxter's FY2026-Q1 was the expected trough quarter, with organic sales declining 1% and adjusted EPS dropping 35% to $0.36, though results met management expectations and guidance was reiterated. The most notable positive was that Novum LVP returns were not material, though the risk remains in guidance with the ship hold assumed for all of 2026. CFO Joel Grade departed with Anita Zielinski stepping in as interim, while Advanced Surgery continued its bright spot trajectory at 10% growth. HST was pressured by FLC timing and CCS flat, though the U.S. capital order book remains strong. The second half ramp depends on 500bp of operating margin expansion from volume seasonality, cost structure actions, and higher-cost inventory rolling through, making H2 execution critical to the full-year guidance.
Revenue Growth | Competitive Dynamics | Margin | Guidance Reliability | Product Launch | Demand | Cost Pressure | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 4 | 2 | 2 | 3 | 2 | 1 | 3 |
| 2025Q1 | 3 | 3 | 4 | 1 | 4 | 3 | 1 | |
| 2025Q2 | 5 | 1 | 4 | 3 | 3 | 4 | 1 | |
| 2025Q3 | 4 | 6 | 2 | 2 | 2 | 2 | 3 | |
| 2025Q4 | 3 | 4 | 6 | 5 | 2 | 1 | 2 | |
| 2026Q1 | 4 | 3 | 2 | 4 | 4 | 1 | 3 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 3 | 3 | 5 | 4 | 3 | 4 |
| Competitive Dynamics | 4 | 3 | 1 | 6 | 4 | 3 |
| Margin | 2 | 4 | 4 | 2 | 6 | 2 |
| Guidance Reliability | 2 | 3 | 2 | 5 | 4 | |
| Product Launch | 3 | 1 | 3 | 2 | 2 | 4 |
| Demand | 2 | 4 | 4 | 2 | 1 | |
| Cost Pressure | 1 | 3 | 1 | 1 | 3 | |
| Capital Allocation | 3 | 1 | 3 | 2 | 1 |
Calendar quarter Q1 2026Earnings call Apr 30, 2026
FY2026 Q1 in brief
Baxter's FY2026-Q1 was the expected trough quarter, with organic sales declining 1% and adjusted EPS dropping 35% to $0.36, though results met management expectations and guidance was reiterated.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Baxter International (BAX), FY2026 Q1: 3/10. Scores: Baxter International’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: BAX daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Robbie Marcus | JPMorgan | 13 questions · 23% challenging |
| Larry Biegelsen | Wells Fargo | 13 questions · 15% challenging |
| Vijay Kumar | Evercore ISI | 13 questions · 23% challenging |
| David Roman | Goldman Sachs | 12 questions · 8% challenging |
| Travis Steed | Bank of America | 11 questions · 18% challenging |
| Joanne Wuensch | Citigroup | 8 questions · 13% challenging |
| Matt Miksic | Barclays | 7 questions · 0% challenging |
| Matt Taylor | Jefferies | 5 questions · 20% challenging |
| Pito Chickering | Deutsche Bank | 4 questions · 50% challenging |
| Danielle Antalffy | UBS | 3 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Evercore ISI | 1 analyst | 13 questions · 23% challenging |
| Wells Fargo | 1 analyst | 13 questions · 15% challenging |
| JPMorgan | 1 analyst | 13 questions · 23% challenging |
| Goldman Sachs | 1 analyst | 12 questions · 8% challenging |
| Bank of America | 1 analyst | 11 questions · 18% challenging |
| Citigroup | 1 analyst | 8 questions · 13% challenging |
| Barclays | 1 analyst | 7 questions · 0% challenging |
| Jefferies | 1 analyst | 5 questions · 20% challenging |
No 8-K events recorded for this window.
The table scrolls sideways. Swipe it, or select it and use the arrow keys.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.75B | +1.0% | $-1.00 | -308.3% | 34.8% | -15.8% | -18.6% | $351M |
| FY2025 Q1 | $2.63B | +5.4% | $0.25 | +244.4% | 32.8% | 2.2% | 4.8% | $-315M |
| FY2025 Q2 | $2.81B | +4.3% | $0.18 | +129.5% | 35.3% | 6.8% | 3.2% | $68M |
| FY2025 Q3 | $2.83B | +5.0% | $-0.09 | -133.1% | 33.5% | 6.1% | -1.6% | $126M |
| FY2025 Q4 | $2.97B | +8.0% | $-2.16 | -116.0% | 19.4% | -24.5% | -37.9% | $444M |
| FY2026 Q1Selected | $2.70B | +2.9% | $-0.03 | -112.0% | 33.0% | 2.4% | -0.6% | $76M |
| FY2026 Q2 | $2.96B | +5.3% | $0.24 | +33.3% | 34.9% | 7.3% | 4.3% | $-329M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
GAAP revenue YoY +2.90% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
BAX Baxter International | 3 | +2.9% | |
| BDX Becton Dickinson | 6 | -10.6% | |
| COO Cooper Companies (The) | 8 | +6.2% | |
| HOLX Hologic | · | n/a | |
| ISRG Intuitive Surgical | 9 | +23.0% | |
| RMD ResMed | 8 | +10.8% | |
| WST West Pharmaceutical Services | 9 | +21.0% |