The financials
Baxter International by the numbers
Baxter International (BAX) reported revenue of $2.70B in Q1 2026 (quarter ended March 31, 2026), up 2.9% from the same quarter a year earlier. That came with a gross margin of 33% and net loss of $15M. For the full year FY2025, revenue was $11.2B (+5.7% year on year) and net income −$957M. Its largest product in 2026-Q2 was Infusion Therapies And Platforms at $769M, 50% of the disclosed total, just ahead of Care And Connectivity Solutions at 23%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $2.70B | $2.63B | +2.9% |
| Gross profit | $891M | $861M | +3.5% |
| Operating income | $66M | $58M | +14% |
| Net income | −$15M | $126M | to a loss |
| Diluted EPS | −$0.03 | $0.25 | to a loss |
| Product | Revenue | Share |
|---|---|---|
| Infusion Therapies And Platforms | $769M | 50% |
| Care And Connectivity Solutions | $361M | 23% |
| Front Line Care | $226M | 15% |
| Advanced Surgery | $182M | 12% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $1.54B (+11%)
Advanced Surgery grew +15% year on yearInfusion Therapies And Platforms +2.1% year on year
Segment Latestquarter on quarteryear on year
- Infusion Therapies And Platforms$769.0M$769.0MQoQ -year on year +2.1%-+2.1%
- Care And Connectivity Solutions$361.0M$361.0MQoQ +15%year on year +5.9%+15%+5.9%
- Front Line Care$226.0M$226.0MQoQ +14%year on year +2.3%+14%+2.3%
- Advanced Surgery$182.0M$182.0MQoQ +10%year on year +15%+10%+15%
- Infusion Therapies And Technologies--QoQ -year on year ---
- Injectables And Anesthesia--QoQ -year on year ---
- Pharmaceutical Compounding--QoQ -year on year ---
Medical Instruments & Supplies
Ranks #20 of 27 by Smart Score