The Deerfield, Ill., company also said it is investigating misstatements in previously reported non-operating income that occurred due to the way it calculated its foreign-currency sales.
Baxter stock on Thursday fell 6.8% to $82 in premarket trading after the company posted third-quarter adjusted operating income of $555 million, with an increase in sales of 3% to $2.85 billion.
Due to the misstatements, Baxter did not provide per-share-earnings figures. Analysts polled by FactSet had been expecting 84 cents of profit on sales of $2.9 billion.
When given the choice, one study showed that 4 of 10 patients prefer peritoneal dialysis (PD), a type of home dialysis. 9% use PD today. @HHSGov @WhiteHouse Advancing American Kidney Health Initiative will help more patients get dialysis care at home. pic.twitter.com/MHUOUHJRrV— Baxter International (@baxter_intl) September 13, 2019
Baxter previously reported net foreign-exchange gains of $8 million, $113 million, $28 million, $50 million, $73 million, and $22 million for the years 2014, 2015, 2016, 2017, 2018, and the first half of 2019, respectively.
Baxter said it has voluntarily advised SEC staff of its internal investigation, and that it does not expect to file its quarterly report on Form 10-Q for the period ended Sept. 30 on a timely basis.