Filing Flows › Baxter International (BAX) › Q2 2026 › vs Q1 2026
Baxter International (BAX) Q2 2026 vs Q1 2026 (quarter over quarter)
Baxter International's revenue rose $259M (+10%) from $2.7B in Q1 2026 to $3.0B in Q2 2026. Gross margin 34.9% against 33.0% (+1.9 pts).
Baxter International, Q2 2026: revenue $3.0B (+5% year over year), operating margin 7.3%, net earnings $126M, operating cash flow $285M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 34.9% | 33.0% | +1.9 pts |
| Operating margin | 7.3% | 2.4% | +4.9 pts |
| Net margin | 4.3% | -0.6% | +4.8 pts |
| Free cash flow margin | 5.7% | 2.8% | +2.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $3.0B | $2.7B | $259M | +10% |
| Gross profit | $1.0B | $891M | $141M | +16% |
| Cost of revenue | $1.9B | $1.8B | $118M | +7% |
| Operating profit | $217M | $66.0M | $151M | +229% |
| Operating expenses | $815M | $825M | −$10.0M | -1% |
| Pre-tax earnings | $149M | −$4.0M | $153M | — |
| Other expense, net | $68.0M | $70.0M | −$2.0M | -3% |
| Net earnings | $126M | −$15.0M | $141M | — |
| Income tax | $23.0M | $11.0M | $12.0M | +109% |
| Depreciation & amortization | $239M | $237M | $2.0M | +0.8% |
| Share-based compensation | $33.0M | $10.0M | $23.0M | +230% |
| Working capital & other | $113M | $19.0M | $94.0M | +495% |
| Operating cash flow | $285M | $213M | $72.0M | +34% |
| Free cash flow (OCF − capex) | $169M | $76.0M | $93.0M | +122% |
| Capital expenditures | $116M | $137M | −$21.0M | -15% |
Questions
How much did Baxter International's revenue grow quarter over quarter in Q2 2026?
Baxter International's revenue rose $259M (+10%) from $2.7B in Q1 2026 to $3.0B in Q2 2026. Gross margin 34.9% against 33.0% (+1.9 pts).