Filing Flows › Baxter International (BAX) › Q2 2026
Baxter International (BAX) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
Baxter International (BAX) reported revenue of $3.0B for the second quarter 2026 (Q2 2026), +5% from a year earlier and +10% from the quarter before. Operating margin was 7.3%, net earnings $126M (4.3% of revenue).
Baxter International, Q2 2026: revenue $3.0B (+5% year over year), operating margin 7.3%, net earnings $126M, operating cash flow $285M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | +10% | +5% |
| Gross profit | $1.0B | +16% | +4% |
| Operating profit | $217M | +229% | +14% |
| Net earnings | $126M | — | +38% |
| Operating cash flow | $285M | +34% | +31% |
| Free cash flow | $169M | +122% | +119% |
What changed
Revenue was $3.0B in Q2 2026, up 5% year over year and up 10% from the previous quarter.
Gross margin was 34.9%, down 0.4 points from Q2 2025. Operating profit was $0.22B, a 7.3% margin (up 0.5 points year over year). Of the extra revenue versus Q2 2025, 17% reached operating profit, above the 7% margin then. Operating expenses grew 2% against revenue growth of 5%. Net earnings were $0.13B, up 38% year over year. The effective tax rate was 15.4%.
Operating cash flow was $0.28B (up 31% year over year), 226% of net earnings. Non-cash charges added back $0.24B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.11B. Capital expenditures of $0.12B left free cash flow of $0.17B.
Questions
What was Baxter International's revenue in the second quarter 2026?
Baxter International (BAX) reported revenue of $3.0B for the second quarter 2026 (Q2 2026), +5% from a year earlier and +10% from the quarter before.
Was Baxter International profitable in the second quarter 2026?
Operating profit was $217M (7.3% of revenue) and net earnings $126M.