Baxter Intl Inc - BAX STOCK NEWS

Baxter International Inc. (NYSE:BAX) has provided an update on the impact of Hurricane Helene on its North Cove facility in Marion, N.C. The facility is currently closed for production due to flooding, and the company is working closely with various government agencies to assess the damage and resume operations. Key points:

1. Baxter is implementing measures to minimize supply disruptions, including managing inventory and using a protective allocation process.
2. The company will leverage its global manufacturing network to mitigate potential supply impacts.
3. The Baxter International Foundation has committed $1.5 million in donations for recovery efforts and is matching employee donations 2:1.
4. Baxter anticipates a negative impact on its financial results due to the disruption and plans to provide an update in its third quarter earnings announcement.

Baxter International Inc. (NYSE:BAX) has launched The Vest Advanced Pulmonary Experience (APX) System, its next-generation airway clearance system, at the North American Cystic Fibrosis Conference. This system, designed for adults and children with certain chronic lung conditions and retained secretions, features enhanced comfort and patient-centered improvements based on clinician and patient input.

Key features include:

• A streamlined, lightweight garment with wicking fabric and Velcro closure
• New garment colors and designs for adults and children
• User-friendly touch screen navigation
• Smaller and lighter control unit with carrying case
• Optional CARE Connex Program for ongoing support

The Vest APX System uses High Frequency Chest Wall Oscillation (HFCWO) technology to help dislodge and mobilize mucus in the lungs. Baxter received FDA 510(k) clearance for the system earlier this year, and it will be available to order this fall.

Baxter International Inc. (NYSE:BAX), a global medtech leader, has appointed Jeffrey (Jay) A. Craig to its board of directors. Craig, former executive chair and CEO of Meritor , will serve on Baxter's Audit Committee. His appointment is effective immediately, bringing the total number of directors to 12. Baxter's chair, president and CEO, José (Joe) E. Almeida, expressed excitement about Craig's addition, highlighting his broad-based business leadership and operational expertise as a former CEO, CFO, COO, and public company auditor. This appointment is expected to complement the current board's expertise with Craig's deep financial experience and public company board background.

Baxter International (NYSE:BAX), a global medtech leader, is set to participate in the 2024 Wells Fargo Healthcare Conference. The company's Chief Financial Officer, Joel Grade, will deliver a presentation on Thursday, September 5, 2024, at 1:30 p.m. Eastern Time.

Investors and interested parties can access the live webcast of Baxter's presentation through the company's official website, www.baxter.com. For those unable to attend the live event, a replay of the presentation will be available on the same platform until Tuesday, March 4, 2025. This presentation offers an opportunity for stakeholders to gain insights into Baxter's current operations, financial performance, and future strategies.

Baxter International Inc. (NYSE:BAX) has announced a definitive agreement to sell its Kidney Care segment, to be named Vantive, to Carlyle for $3.8 billion. This strategic move is part of Baxter's ongoing business transformation aimed at enhancing performance and creating value for stakeholders. The transaction is expected to close in late 2024 or early 2025, subject to regulatory approvals and other conditions.

Key points:

• Baxter will receive approximately $3.5 billion in cash, with estimated net after-tax proceeds of $3 billion
• Proceeds will be used to reduce Baxter's debt
• Vantive, a leader in global kidney care, had 2023 revenues of $4.5 billion
• Post-divestiture, Baxter targets 4-5% annual operational sales growth and an adjusted operating margin of about 16.5% for 2025

Baxter International Inc. (NYSE:BAX) reported strong second-quarter 2024 results, with sales from continuing operations reaching $3.81 billion, a 3% increase on a reported basis and 4% on a constant currency basis. The company exceeded its previously issued guidance across all segments. While U.S. GAAP diluted EPS from continuing operations was ($0.62), adjusted diluted EPS was $0.68, surpassing expectations. Notably, Baxter has increased its full-year sales guidance, now projecting growth of approximately 3% on both reported and constant currency bases. The company also raised its full-year adjusted diluted EPS guidance to $2.93 to $3.01. Baxter's performance was driven by new product launches, heightened demand for various products, and operational efficiencies.

Baxter International Inc. (NYSE:BAX), a global medtech leader, has announced that it will host a conference call to discuss its second-quarter 2024 financial results on Tuesday, August 6, 2024, at 7:30 a.m. Central Time. Investors and interested parties can participate in the call by pre-registering through the provided link. The call will also be webcast and accessible through Baxter's website. It's important to note that the conference call will be recorded by Baxter and is copyrighted material, which cannot be recorded or rebroadcast without Baxter's permission.

Baxter International (NYSE:BAX), a global medtech leader, has announced a quarterly cash dividend of $0.29 per share of common stock. The dividend will be payable on Oct. 1, 2024, to stockholders of record as of Aug. 30, 2024. This declaration sets the indicated annual dividend rate at $1.16 per share of common stock. This announcement demonstrates Baxter's commitment to providing regular returns to its shareholders, which may be seen as a positive sign of the company's financial stability and confidence in its future performance.

Baxter published its 2023 Corporate Responsibility Report, emphasizing its continued commitment to global healthcare, transparency, and environmental, social, and governance (ESG) topics. The report updates Baxter's progress toward its 2030 Corporate Responsibility Commitment and Goals, highlighting key achievements such as investing over $143 million since 2021 in underserved communities, partnering with UNICEF for climate-smart projects in Egypt, and completing 150 energy conservation projects that will reduce GHG emissions by 21,100 metric tons annually from 2024. Baxter also continues to excel in workplace safety and has enhanced its reporting by adopting the TCFD framework. The company plans to conduct a double materiality assessment to align its goals with evolving corporate responsibility standards, especially in light of the proposed separation of its Kidney Care business.