DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported fourth-quarter earnings of $181 million.
The Deerfield, Illinois-based company said it had net income of 36 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were 88 cents per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
The drug and medical device maker posted revenue of $3.89 billion in the period, surpassing Street forecasts. Eight analysts surveyed by Zacks expected $3.77 billion.
For the year, the company reported a loss of $2.43 billion, or $4.83 per share, swinging to a loss in the period. Revenue was reported as $15.11 billion.
For the current quarter ending in March, Baxter expects its per-share earnings to range from 46 cents to 50 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.01.
The company expects full-year earnings in the range of $2.75 to $2.95 per share.
Baxter shares have decreased 10% since the beginning of the year, while the S&P’s 500 index has climbed 7%.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAX at https://www.zacks.com/ap/BAX
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
