March 17, 2020 / 11:47 AM / 19 days ago

BRIEF-Baxter Reports Q4 Loss Per Share $0.05 From Continuing Operations

March 17 (Reuters) - Baxter International Inc:

* BAXTER REPORTS FOURTH-QUARTER AND FULL-YEAR 2019 RESULTS, COMPLETES FINANCIAL RESTATEMENT PROCESS

* Q4 SALES $3.0 BILLION VERSUS REFINITIV IBES ESTIMATE OF $2.98 BILLION

* SEES Q1 2020 ADJUSTED EARNINGS PER SHARE $0.72 TO $0.74 EXCLUDING ITEMS

* Q4 GAAP LOSS PER SHARE $0.05 FROM CONTINUING OPERATIONS

* Q4 EARNINGS PER SHARE ESTIMATE $0.88 — REFINITIV IBES DATA

* WITH SUBMISSION OF RESTATED FINANCIALS, COMPANY IS NOW CURRENT IN ITS SEC REPORTING OBLIGATIONS

* HAS NOW COMPLETED ITS INTERNAL INVESTIGATION INTO CERTAIN INTRA-COMPANY TRANSACTIONS

* BAXTER INTERNATIONAL - WORLDWIDE SALES IN FOURTH QUARTER TOTALED $3.0 BILLION, AN INCREASE OF 7% ON REPORTED BASIS

* IS NOW CURRENT IN ITS SEC REPORTING OBLIGATIONS

* BAXTER INTERNATIONAL - IS NOT PROVIDING GUIDANCE FOR FULL-YEAR 2020

* NET LOSS FROM CONTINUING OPERATIONS REPRESENTED A DECLINE OF 109% AND INCLUDED SPECIAL ITEMS TOTALING $524 MILLION AFTER-TAX

* BAXTER INTERNATIONAL - SEES Q1 2020 SALES GROWTH OF 4% TO 5% ON REPORTED BASIS AND 5% TO 6% ON BOTH CONSTANT CURRENCY AND OPERATIONAL BASIS

* BAXTER INTERNATIONAL - SPECIAL ITEMS OF $524 MILLION AFTER-TAX, PRIMARILY RELATED TO NONCASH PENSION SETTLEMENT CHARGE. BUSINESS OPTIMIZATION EXPENSES

* BAXTER INTERNATIONAL - SEES Q1 2020 EXPECTS ADJUSTED NET INCOME, BEFORE SPECIAL ITEMS, OF $0.72 TO $0.74 PER DILUTED SHARE

* QTRLY ADJUSTED INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO BAXTER TOTALED $501 MILLION, OR $0.97 PER DILUTED SHARE

* TO DATE BAXTER HAS EXPERIENCED LIMITED FINANCIAL IMPACT FROM COVID-19

* BAXTER INTERNATIONAL - IS NOT IN A POSITION TO PROVIDE AN ESTIMATE OF ANY POTENTIAL NEGATIVE IMPACT ON ITS FULL-YEAR FINANCIAL RESULTS

* BAXTER - CORRECTED CERTAIN ADDITIONAL MISSTATEMENTS THAT WERE IMMATERIAL, INDIVIDUALLY & IN AGGREGATE, TO PREVIOUSLY ISSUED FINANCIAL STATEMENTS

* BAXTER INTERNATIONAL - WILL CONTINUE TO ACTIVELY MONITOR SITUATION & WILL PROVIDE FURTHER UPDATES AS APPROPRIATE Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below