Filing Flows › Baxter International (BAX) › Q1 2025
Baxter International (BAX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Baxter International (BAX) reported revenue of $2.6B for the first quarter 2025 (Q1 2025), +5% from a year earlier and -5% from the quarter before. Operating margin was 2.2%, net earnings $126M (4.8% of revenue).
Baxter International, Q1 2025: revenue $2.6B (+5% year over year), operating margin 2.2%, net earnings $126M, operating cash flow −$193M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | -5% | +5% |
| Gross profit | $861M | -10% | -10% |
| Operating profit | $58.0M | — | -50% |
| Net earnings | $126M | — | +223% |
| Operating cash flow | −$193M | — | — |
What changed
Revenue was $2.6B in Q1 2025, up 5% year over year and down 5% from the previous quarter.
Gross margin was 32.8%, down 5.8 points from a year earlier. Operating profit was $0.06B, a 2.2% margin (down 2.4 points year over year). Operating profit fell $0.06B even though revenue rose $0.14B versus a year earlier, so costs grew faster than sales. Operating expenses fell 5% while revenue rose 5%. Net earnings were $0.13B, up 241% year over year. The tax line was a benefit of $0.07B on pre-tax earnings of $0.06B.
Operating cash flow was −$0.19B. Non-cash charges added back $0.25B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.58B. Capital expenditures of $0.12B exceeded it, leaving free cash flow of −$0.32B.
Questions
What was Baxter International's revenue in the first quarter 2025?
Baxter International (BAX) reported revenue of $2.6B for the first quarter 2025 (Q1 2025), +5% from a year earlier and -5% from the quarter before.
Was Baxter International profitable in the first quarter 2025?
Operating profit was $58.0M (2.2% of revenue) and net earnings $126M.