Baxter International : Lowers Full-Year EPS Guidance

By Stephen Nakrosis

Medical specialties company Baxter International Inc. on Friday said it was lowering its full-year earnings per share guidance, in connection with the redemption of a series of 2025 Notes.

The company said, as a result of the redemption, it expects to recognize a pre-tax debt extinguishment loss of about $110 million, or about $85 million, or 16 cents per diluted share, on an after-tax basis.

As a result, Baxter said, it now expects full-year EPS in a range between $2.25 and $2.28 per share, below the earlier estimate of a range between $2.41 and $2.44.

--Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

11-06-20 1756ET