Baxter said net income attributable to Baxter stockholders for the 3 months ended September 30, 2026 was $294 million, or $0.57 per diluted share, compared with $(46) million, or $(0.09) per diluted share, a year earlier. Special items adversely affected net income in the same quarter by $5 million, compared with $401 million a year earlier.

1. 01

   Baxter said net income attributable to Baxter stockholders for the 3 months ended September 30, 2026 was $294 million, or $0.57 per diluted share, compared with $(46) million, or $(0.09) per diluted share, a year earlier. Special items adversely affected net income in the same quarter by $5 million, compared with $401 million a year earlier.

2. 02

   The company said that in Q3 2026, net sales in its Medical Products & Therapies segment rose 6% from the prior year period, and net sales in its Healthcare Systems & Technologies segment rose 4%. It said that Kidney Care MSA sales weighed on sales growth by 1% in the quarter, while foreign exchange rates favorably impacted net sales growth by 1%.

3. 03

   The company said cash flow from continuing operations from operating activities was $1.07 billion for the 9 months ended September 30, 2026 ($355 million a year earlier). Over the same period it made debt repayments of $600 million. As of September 30, cash and cash equivalents totaled $1.98 billion, and long-term debt and finance lease obligations were approximately $8.60 billion.

4. 04

   The company said the FDA began an inspection of its sterile injectables manufacturing facility in Round Lake, Illinois, in March 2026. It said the facility was classified as Official Action Indicated (OAI) in June, and a Warning Letter was issued in September. The company said it responded to the Warning Letter in October and continues to implement corrective and preventive actions.

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

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