Baxter reported third-quarter 2026 sales of $2.98 billion, up 5% from a year earlier on both reported and organic bases, with growth across all segments and divisions. The company also raised its full-year outlook, completed a debt tender offer and declared a quarterly dividend.
The results cover continuing operations and exclude Baxter’s former Kidney Care business, which is reported as discontinued operations.
Key details
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Sales grew in the U.S. and internationally. U.S. sales were about $1.6 billion, up 3% as reported and 5% organically. International sales were about $1.4 billion, up 7% as reported and 6% organically. Organic growth adjusts for currency movements and certain acquisition, divestiture and Kidney Care agreement impacts.
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Earnings per share were mixed across measures. U.S. GAAP diluted EPS was $0.57. Adjusted diluted EPS was $0.58, down 16% year over year; Baxter attributed the decline to a higher effective tax rate.
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Baxter raised its full-year 2026 financial outlook. The announcement did not include the revised outlook figures in the material provided here.
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Cash generation totaled $448 million in free cash flow for the quarter and $705 million for the first nine months of the year.
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The company completed a $600 million cash tender offer, retiring $864 million of debt. Baxter said the transaction accelerated deleveraging and supported its investment-grade credit objectives.
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The board declared a quarterly cash dividend of $0.01 per common share. It is payable Jan. 4, 2027, to shareholders of record on Nov. 27, 2026.
Baxter said it is focused on stabilizing the business, strengthening its balance sheet and improving operations. The reported debt retirement and raised outlook are consistent with those stated priorities.