good and everyone. Joe, Thanks, morning
As reinforce by for full-year updated financial basis, second further confidence business our solid basis, of constant discussing I’ll on currency our a global results our increased Joe on start across strength sales across second our each before $X.X flat Beginning portfolio. reflecting quarter second currency with were reported results units, in mentioned, XXXX. and both quarter of reflect growth our and the providing operational six X% quarter, billion outlook constant and our a outlook.
rate. earnings increased ongoing to topline $X.XX operational On of per diluted performance, exceeded share. driven our tax the a and to $X.XX adjusted by bottom-line, diluted efficiencies, share, $X.XX guidance This XX% per lower
by our geographic currency global in for Note, equal to for growth growth. constant our segments growth in region to is businesses Americas Now, and sales this constant businesses. currency all business quarter, the addition segments I’ll performance for pharmaceuticals will for growth region walk which you we provide except and sales through operational operational
our X% sales with X% Asia-Pacific in geographic currency in first the basis. Americas currency a on basis, basis a for growth X% on operationally. Starting constant and three EMEA Sales Sales X% advanced on region grew sales currency our constant a grew segments. and constant in
$XX in Care therapies this exited in negatively the Global to on earlier Moving the sales global constant approximately impacted a growth PD Performance businesses. quarter was HD this advancing the by million business in offsetting high-single-digit globally, sales X% by sales partially Bloodline's basis. were for Renal lower in-center $XXX year, by driven quarter currency was million. products of the which select growth including performance
of less impact quarter sales the was million Care constant from systems $XXX to was the balanced Revaclear Renal Spectrum by Sales the X% IQ. strength in The and delivery in with the the infusion basis, constraints associated and dialyzer. in solid following a launch on both a impacted of quarter. million benefited recall representing than growth U.S. also the currency temporary and medication grew return the growth quarter in supply in Performance IQ internationally. $XX Evo and in
large Solutions, International from particularly in America IV Latin continued and Mini-Bag the momentum volume growth Plus. of
We year-over-year the were acceleration increasing our with business. sales and constant Pharmaceutical X% medication currency delivery million and in $XXX X% are operationally. pleased growth sequential
$XX quarter, This the was in U.S. Strong demand offset by [Baxter driven in services, anesthesia including to for business, growth injectables, by increased our declines international contributed generic our MetaBot] and pharmacy hospital which products. sales the compounding partially performance U.S. to lower U.S. sales of the quarter. anesthesia and of sales year care the and the Brevibloc by as Sales are compared period. cyclo, reflected critical of in in prior million products were lower approximately also impacted
internationally. Moving reflect the up basis to million, X% in U.S. nutrition, sales both $XXX on total currency were and sequential constant a improvement and
XXXX sales We new on ramp U.S. to to our product rebuild to launches. throughout as we business expect capitalize and continue worked
U.S. the to address in currency competitive Sales the a advanced basis. in increased XX the quarter. percentage of surgery million $XXX These points ability approximately from Strong supply on our XX% constraints supply to market constant hemostat dynamics contributed global in growth benefited growth in
on constant currency by CRRT $XXX launches Baxter's in Sales new year-over-year after in business therapies demand basis. a globally driven first acute difficult normalized, to growth X% the quarter, million, is therapies. comparison Growth product this and a now our growth business continue we in see were and for representing of
Finally, which reflecting on currency decrease were of prior year $XXX constant a includes a category, sales X% million, contract primarily in a period. comparison basis, our challenging other our the to services manufacturing
than improvements period offset our the our P&L, decline through as and point margin a Brevibloc XXX-basis mix. year compared adjusted and of to prior the by lower initiatives a from U.S. Moving were of cyclo product represents portfolio favorable rest less gross manufacturing more and XX.X% of the sales benefits
SG&A impacted a gross efficiency. a capabilities contributions on targeted at Adjusted basis, facility. reflecting positive our by addition, the decreasing currency incremental from totaled enhancing to basis, our and operational to margin related improve initiatives dialyzer million, X% $XXX was on manufacturing X% In constant reported negatively expenses
initiatives, invest while general effectiveness and our We in and on sales continue increased administrative to in expenses. driving marketing focus strategically maintaining
in currency versus the on period. million reported $XXX year XX% quarter a and XX% a constant prior R&D Adjusted the basis spend on decreased of basis
operating organization, from continue processes to and versus efforts our prior our of our was the quarter enhance see R&D XX%, our in an We increase while Adjusted innovation benefit to XX strategic year. prioritizing pipeline. investment in the points margin basis optimize
million XX was and totaled an duration points, Euro commercial Net an an the higher the $X interest average resulting coupon billion the our expense of lower of driven increased second interest denominated borrowings and the expense to from of of average issuance during by X.X average X.X new debt $XX basis at year, quarter, paper increase income debt. quarter, This issued million, compared years. prior interest in and of
by $XX in along quarter, driven with the our benefits totaled positions. for stock from sheet XX.X% primarily ruling driven tax benefit The quarter, income gains to was Further a rate compensation and million favorable foreign a deductions. resulting exchange expectations, the pension by tax balance adjusted favorable on
share. per And as previously exceeded share per mentioned, adjusted earnings guidance $X.XX $X.XX diluted $X.XX of of our to
quarter, X approximately or second within Baxter stock, offset partially which repurchased the $XXX option-related we shares Within was quarter. million by of dilution million the
flow the the respect in with the inventory free half in-line was cash million conversion we expectations. expect on to quarter, in year. we the flow, in half to ramp drove cash second first XXXX, sequential days and continue of With $XXX improvement hand our cash the of In of second
Let XXXX my by and conclude guidance quarter. the third providing full-year morning this the comments me for our
to For X% globally on a of basis. the currency and full-year XXXX, sales both growth X% are we constant now and approximately expect operational growth reported X%
our HD, full-year expect our approximately impacted otherwise noted. Renal due basis PD we in a expected sales which constant where is to be to by in-center $XX for in Moving guidance therapies strategic to now by by X%. million. partially approximately in Care growth Bloodline's Strong Care, XXXX globally except negatively on business exits offset currency sales of Renal U.S. growth lower business, In
dialyzer full-year impact In is of expected addition, $XX to approximately impact the million. sales negatively supply Revaclear disruption the by from
to in expect improvement the with the by expect sales we the half X% the to continue normal to Delivery, We increase In return of second inventory of end year. level approximately Medication to year. sequential
operational versus growth to constant For $XXX on low assumption digits. for mid-single approximately our now our expect now adjusting million currency of are of increase expected now U.S. digits we to is business, $XXX single U.S. total sales expected previous million, basis. an pharmaceuticals increase cyclo, a cyclo
included Brevibloc growth expected sales million operational are approximately decline in are As to $XX in a XXXX. reminder, and
X%. to Moving of we Nutrition, continue expect approximately Clinical to sales growth
business, surgery now sales high-single-digits increase given the to performance year-to-date. advanced our For expect we strong
third begin in quarter. Our competitive ease the constraints supply guidance assumes that to
to Therapies X% For to growth we X%. business, the approximately Acute continue of expect
in continue to decline single Finally, sales digits. to expect we other business, our low-to-mid
plant total anticipate to to operational mitigation to estimate to XXX efforts impact continue expansion manufacturing Moving down dialyzer margin basis to expected P&L, XX The to $XX gross with of we million. points expenses is full these year-end. adjusted our return points expenses offset approximately additional an of full-year by savings operating incremental capacity being the basis of margin in by
of of to million approximately interest expect expense and million to now net $XX continue we approximately income adjusted We $XX XXXX. $XX other expect million, for
the an rate tax approximately year, For now the expect adjusted favorability of average QX. from XX%, we reflecting
We average these on $X.XX continue of approximately special share adjusted earnings, to expect we diluted XXXX $X.XX factors, count anticipate share. now to XXX full-year shares. diluted Based a of million items excluding per
expect on continue approximately of basis. operational the $X.X operating basis, to Finally, a X% quarter flow billion. year, to to flow and of growth a to for expect free of X% on sales of we billion generate and the $X.X in cash and XXXX, we constant cash Specific X% third both reported
earnings, adjusted items expect excluding $X.XX of share. We $X.XX diluted to per special
Q&A. call the open now can we that, to With
