Baxter International’s Q3 Profit Matches View; Revenue Misses; Forecast In-Line (BAX)

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Medical products maker Baxter International Inc. ( BAX ) on Thursday posted mixed third quarter earnings results and provided an in-line fourth quarter outlook.

The Deerfield, IL-based company reported third quarter net income of $583 million, or $1.06 per share, compared with $576 million, or $1.01 per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.14 per share.

Revenue edged slightly lower from last year to $3.48 billion.

On average, Wall Street analysts expected a matching profit of $1.14 per share, on slightly higher revenue of $3.52 billion.

Looking ahead, BAX forecast Q4 earnings of $1.24 to $1.27 per share, while analysts are looking for $1.26. For the full year, Baxter now expects earnings of $4.51 to $4.54 per share, narrowed from a prior outlook of $4.50 to $4.56.

Baxter International shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Baxter International ( BAX ) have a 2.91% dividend yield, based on last night's closing stock price of $61.92. The stock has technical support in the $56-$58 price area. The stock is trading near all-time highs of $65-$69 a share.

Baxter International Inc. ( BAX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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