Baxter Q4 sales rise 8% to $2.97 billion; net loss of $1.1 billion
Baxter reported fourth-quarter 2025 sales from continuing operations of $2.97 billion, up 8% on a reported basis, but posted a GAAP net loss of $1.128 billion after a $485 million goodwill impairment and a $330 million valuation allowance on U.S. deferred tax assets. Adjusted diluted EPS from continuing operations fell 24% to $0.44, and the company issued 2026 adjusted EPS guidance of $1.85 to $2.05. The filing also announces a board change and a quarterly dividend of $0.01 per share.
Key points
- Q4 2025 sales from continuing operations were $2.97 billion, up 8% reported and 3% operational; U.S. sales declined 1% operationally.
- GAAP net loss was $1.128 billion, or $2.19 per diluted share, including a $485 million goodwill impairment and a $330 million valuation allowance.
- Adjusted diluted EPS from continuing operations was $0.44, down from $0.58 a year earlier; full-year 2026 adjusted EPS guidance is $1.85 to $2.05.
- Michael R. McDonnell joins the board effective February 13, 2026; Cathy R. Smith and Stephen H. Rusckowski resign on the same date. The $0.01 dividend is payable April 1, 2026.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:12 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 12, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.