Core Insights - Baxter International Inc. (BAX) is set to release its third-quarter 2025 results on October 30, with expectations of modest growth despite recent mixed performance [1][3] Q3 Estimates - The consensus estimate for revenues is $2.87 billion, reflecting a 6.4% increase from the prior-year quarter [2] - Earnings per share (EPS) is projected at 60 cents, indicating a 25% year-over-year decline [2] Important Factors to Note - The company experienced a 4% growth in sales from continuing operations in the second quarter, supported by Drug Compounding, Advanced Surgery, and Care & Connectivity Solutions, but faced challenges in Infusion Therapies & Technologies and Injectables & Anesthesia [3] - Adjusted EPS for the second quarter was 59 cents, at the low end of guidance, while operating margin improved by 180 basis points to 15.1% [3] Management Expectations - For Q3, management anticipates revenue growth of 6-7% and operational growth of 3-4%, aided by foreign exchange tailwinds and approximately $80 million in MSA revenues from Vantive [4] - Adjusted EPS is expected to range between 58-62 cents, with margin stability anticipated despite volume pressures in IV solutions [4] Segmental Overview - **Medical Products & Therapies (MPT)**: Second-quarter sales rose 1% operationally to $1.3 billion, with Advanced Surgery growth offset by weakness in ITT [6] - **Healthcare Systems & Technologies (HST)**: Revenues increased 2% to $767 million, driven by 4% growth in CCS, with international strength [9] - **Pharmaceuticals**: Sales grew 1% to $612 million, with Drug Compounding growth offsetting declines in Injectables and anesthesia [10] - **Other Sales & Transitional Revenues**: Other sales totaled $13 million, with MSA revenues from Vantive contributing $98 million; projected MSA revenues for Q3 are nearly $80 million [11] Earnings Prediction Insights - The current model does not predict an earnings beat for Baxter, as the Earnings ESP is 0.00% [12] - Baxter holds a Zacks Rank of 3, indicating a hold position [13]