Baxter International Inc

Company facts

Industry

Surgical & Medical Instruments & Apparatus

Headquarters

Deerfield, Illinois

Most recent report

8-K, filed Aug 19, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 10456

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 11 sections worth reading, with 0 positive, 4 notable, and 9 negative flags.

• Financial Statements (Item 1)

  Full financials and notes with major company events: dividend cut, litigation, restructuring.
  Notable

  • Segment structure changed from three to two; Pharmaceuticals merged into Medical Products & Therapies.
  Negative

  • Novum LVP pump distribution stopped due to Class I recall; ongoing remediation.
  • Securities class actions filed for alleged false statements about Novum LVP from 2022 to 2025.
  • DOJ requests documents on IV flexible containers and False Claims Act compliance.
  • Dividend cut 94% to $0.01 per share quarterly from $0.17, a clear cash preservation signal.

• Management's Discussion (Item 2)

  Segment reorg, pump halt, H1 profit drop, cash-flow jump, tariff refunds, negative credit outlook.
  Notable

  • New operating model reduced segments from three to two; Pharmaceuticals folded into Medical Products.
  • Recorded $75M in IEEPA tariff refunds to COGS in Q2 2026, a one-time benefit.
  • Revolver headroom shrank to $1.41B from $1.62B at March 31, 2026, tightening liquidity cushion.
  Negative

  • Novum LVP recall halted US/Canada distribution; no meaningful sales are expected while holds last.
  • H1 net income from continuing operations dropped to $118M from $186M; Q2 improved but first quarter loss dragged.
  • Medical Products & Therapies segment operating income fell from $847M to $750M in H1 2026.
  • S&P and Moody's changed outlook to Negative in Q1 2026; first rating-agency downgrade risk.
  • Front Line Care goodwill of $1.51B may require impairment if conditions worsen.

What changed: Jun 2026 vs. Mar 2026

About 11% of BAX's Jun 2026 10-Q is new information. 41 paragraphs were added, 190 changed, and 40 removed. Below are the most important lines SECSift identified.

• Item 2 88
• Item 1 77
• Item 6 6
• Item 3 6
• Item 4 2