Baxter cuts FY24 adjusted EPS view to $2.90-$2.94 from $2.93-$3.01

Consensus $2.95. Cuts FY24 revenue view to up 1%-2% from up 3%. The company said, “Given the unprecedented impact of Hurricane Helene on the company’s North Cove operations and related production, Baxter (BAX) is adjusting its full-year 2024 financial outlook to reflect the estimated impact of the hurricane on its fourth-quarter results. As a result of the hurricane, Baxter expects total company fourth-quarter sales to be negatively impacted by approximately $200 million, including an estimated $40 to $50 million impact on Kidney Care sales and approximately $150 to $160 million impact on Medical Products & Therapies sales. Total company adjusted diluted EPS (including discontinued operations) are expected to be negatively impacted by $0.15 to $0.20 per share.”