Baxter said its net loss attributable to Baxter stockholders for the 3 months ended June 30, 2024 was $314 million, or $0.62 per diluted share, and that special items adversely impacted net loss by $659 million, or $1.30 per diluted share.

1. 01

   Baxter said its net loss attributable to Baxter stockholders for the 3 months ended June 30, 2024 was $314 million, or $0.62 per diluted share, and that special items adversely impacted net loss by $659 million, or $1.30 per diluted share.

2. 02

   Baxter said it performed an interim goodwill impairment assessment for the Chronic Therapies reporting unit in Q2 2024, following its receipt of bids for the Kidney Care business, and recorded a pre-tax impairment charge of $430 million, the full amount of goodwill for that unit.

3. 03

   Baxter said it expects the separation of Kidney Care to be completed in late 2024 or early 2025, and that separation-related costs were $81 million in Q2 2024 and $173 million for the 6 months.

4. 04

   Baxter said operating cash flow from continuing operations for the 6 months of 2024 was $278 million, compared with $780 million in the same period of 2023, and that on July 17, 2024 it entered into a bridge facility credit agreement for up to $2.05 billion.

Key figures

Quarter ended June 30, 2024

Revenue

$3.8B

Operating income

−$192M

Net income

−$314M

EPS

−$0.62

Gross profit

$1.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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