Baxter International Inc. (BAX) Q4 2022 Earnings Call Transcript

Baxter International Inc. (NYSE:BAX) Q4 2022 Earnings Conference Call February 9, 2023 8:30 AM ET

Company Participants

Clare Trachtman - Vice President of Investor Relations

José Almeida - Chairman, President & Chief Executive Officer

James Saccaro - Executive Vice President & Chief Financial Officer

Conference Call Participants

Pito Chickering - Deutsche Bank

Robbie Marcus - JPMorgan

Vijay Kumar - Evercore ISI

Matthew Mishan - KeyBanc

Matt Miksic - Barclays

Lawrence Biegelsen - Wells Fargo

Operator

Good morning ladies and gentlemen and welcome to Baxter International's Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded by Baxter and is copyrighted material. It cannot be recorded or rebroadcast without Baxter's permission. If you have any objections, please disconnect at this time.

I would now like to turn the call over to Ms. Clare Trachtman, Vice President, Investor Relations at Baxter International. Ms. Trachtman, you may begin.

Clare Trachtman

Good morning. and welcome to our fourth quarter 2022 earnings conference call. Joining me today are Joe Almedia, Baxter's Chairman and Chief Executive Officer; and Jay Saccaro, Baxter's Chief Financial Officer. On the call this morning, we will be discussing Baxter's fourth quarter and full year 2022 financial results, along with our financial outlook for 2023.

With that, let me start our prepared remarks by reminding everyone that this presentation, including comments regarding our financial outlook for the first quarter and full year 2023, new product development, the potential impact of recently announced strategic actions, proposed pricing actions, business development and regulatory matters contain forward-looking statements that involve risks and uncertainties. And of course, our actual results could differ materially from our current expectations. Please refer to today's press release and our SEC filings for more detail concerning factors that could cause actual results to differ materially. In addition, on today's call, non-GAAP financial measures will be used to help investors understand Baxter's ongoing business performance. A reconciliation of the non-GAAP financial measures being discussed today to the comparable GAAP financial measures is included in our earnings release issued this morning and available on our website.

On the call this morning, we will be discussing operational sales growth which for the fourth quarter and full year 2022, adjust for the impact of foreign exchange and the acquisition of Hillrom.

Now, I'd like to turn the call over to Joe. Joe?