(Reuters) -Medical products maker Baxter International on Thursday beat Wall Street estimates for first-quarter revenue and profit, helped by the robust demand for its intravenous (IV) solutions and patient-monitoring systems.
Shares of the Deerfield, Illinois-based company rose 4.3% in premarket trading following the results.
Boosted by a surge in non-essential surgical procedures, manufacturers such as Baxter expect the rise in the sale of medical devices to counter the impact of U.S. President Donald Trump’s levies.
“While today’s global macroeconomic factors are creating a greater degree of uncertainty in the market, we remain confident in our overarching trajectory,” interim CEO Brent Shafer said.
First-quarter sales at Baxter’s medical products and therapies unit, which includes IV solutions, rose 3% to $1.26 billion from a year ago.
Sales at its healthcare systems and technologies segment, which sells patient-monitoring systems and respiratory devices, among others, rose 6% to $704 million in the three months ended March 31.
The company incurred $98 million in Hurricane Helene-related costs during the first quarter.
Baxter’s North Cove facility in North Carolina, which supplies 60% of IV fluids and peritoneal dialysis solutions in the U.S., was temporarily shut down last year due to flooding caused by the hurricane.
The company had said in November its first-quarter results will be marginally affected by these disruptions as its one-liter IV bags constitute almost half of the IV production at the North Carolina facility.
The company earned 55 cents per share on an adjusted basis in the first quarter, surpassing analysts’ average estimate of 48 cents, according to data compiled by LSEG.
Its quarterly revenue came in at $2.63 billion, beating expectations of $2.59 billion.
Baxter raised the lower end of its 2025 profit forecast range to $2.47 to $2.55 per share, compared with a prior view of $2.45 to $2.55.
(Reporting by Kamal Choudhury and Christy Santhosh in Bengaluru; Editing by Shreya Biswas)
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