And clearly, the pandemic is not ending today. And we also did not share quarterly guidance, because given how things emerge, given hotspots, movements in these in different pieces that take place, there is an inherent amount of volatility on sales in a given month. Our PrisMax has launched well, and it was a great product for the right time. So anybody who has a really good line of sight to that, I would be very thoughtful about those expectations. Maybe, Joe, and then I’ll shift back to Jay. Thanks for fitting me in. So we really are looking at a broad spectrum of things that could occur. And I think the press release, Joe's comments about this spirit of innovation at the company is evident of that philosophy in action. Pharmaceutical sales were $539 million, increasing 4% constant currency and 7% operationally. Finally, as we announced last quarter, we’re postponing our investor conference until 2021. Sales in our Acute Therapies business were $186 million representing growth of 45% on a constant currency basis. moving to nutrition. So we're going to position ourselves as a strong pump competitor in the future with a platform that is expansible and will allow our customers' future expansion in digital health. So for us, having inventory on the shelf is incredibly important because as we saw during the peak of the pandemic in the Northeast, we were having volumes that were reaching 500% of our ability to produce and having that inventory independent of government stockpiles is important for us to have it. You see a pause because I think the administration is quite busy right now with other matters. And for that, there's two areas of focus. And as we prepare toward the end of the year to convert some of our production lines into THERANOVA, OK? And we've been advancing in the U.S., our current SIGMA SPECTRUM. But I want to give you some color on Baxter's business being slightly different in China, primarily in parts of Asia than it is in Europe and Americas. In addition, on today's call, non-GAAP financial measures will be used to help investors understand Baxter's ongoing business performance. Was that 100% related to what's going on with COVID? other non-operating expense totaled $6 million in the quarter compared to $4 million in the prior-year period. Pharmaceutical sales were $485 million, down 7% on a constant currency basis, reflecting the expected declines from reduced demand for our inhaled anesthesia products as a result of lower elective procedures related to COVID-19. But can you break out what percent of pre-COVID hospital possible visits you were assuming at the high end and at the low end of your revised guidance? So we’re excited about that. So I think the market is ready for something new, something that is designed for the future. So and not only that, Baxter has a global platform now because the new pump platform for us is going to be a global business, despite the fact that now we went back to the outside markets with an interim product, which is EVO IQ, which is doing very well. I'm kind of curious in your guidance, what assumption you made, most of your peers are saying sort of the surgically oriented businesses will grow in the fourth quarter. I’m not going to be sitting here today affirming that procedure growth is going to be positive in the fourth quarter. Jay? This is a company that has a solid, solid financial position and that afford us to continue to look for opportunities. Your line is open. How much room for upside or downside is in the guidance range? The implementation of various shelter-in-place initiatives globally as well as patient concerns regarding potential COVID-19 infection risk in the healthcare setting contributed to these trends. But we have about 15% of our sales between our Advanced Surgery business, along with a few other areas like some of our inhaled anesthetics, which are very much dependent on elective procedures taking place in hospitals. So we're starting to see that or and also in the U.K. with NHS. And the reason for that is that we have business like acute renal care and peritoneal dialysis, which are doing extremely well for different reasons. And our next question comes from Lawrence Biegelsen of Wells Fargo. Baxter International Inc (BAX) Q3 2018 Earnings Conference Call Transcript BAX earnings call for the period ending September 30, 2018. The strength of our balance sheet positions us for sustained durability in an uncertain market environment. We also going to the AAKHI, it proves the point that home therapist is ideally positioned for a crisis where there's so much transmission of virus by aerosolization and close contact. Thank you. We are also taking steps to bring clinicians, the widest possible array of options in this battle. performance in the quarter was also impacted by increased competition for Transderm Scop. Yes, Catherine, we have time for one more question here. Thank you. On the call this morning, we will be discussing Baxter's first quarter 2020 financial results. We continue to anticipate a full year diluted average share count of approximately 520 million shares. On the call this morning, we will be discussing Baxter’s second quarter 2020 financial results and full-year 2020 financial outlook. Global sales for Renal Care were $919 million, advancing 5% on a constant currency basis. We will continue to prioritize our planned R&D investments within the year. Starting with our three regional segments. Just on capital deployment, not surprised that we haven't seen any M&A here with MedTech valuations where they are, but how are you balancing your capital allocation plans here with Baxter share price at highs and MedTech valuations, where they are? Joining me today are Joe Almeida, Baxter’s Chairman and Chief Executive Officer; and Jay Saccaro, Baxter’s Chief Financial Officer. On the bottom line, adjusted earnings decreased 24% to $0.64 per share, reflecting lower sales in higher-margin businesses, incremental COVID-related operations and logistical expenses as well as higher interest expense and a higher tax rate. With the wide range of uncertainty around it, David, I mean, I think for us, one of the things that we are very respectful of is the large range of potential outcomes as it relates to the pandemic. You’re excited about the pipeline there. And our next question comes from Pito Chickering with Deutsche Bank. Vijay, we our long-term perspective for our business as we had outlined in our prepared remarks has changed. Finally, as we announced last quarter, we’re postponing our Investor Conference until 2021. Hi. I mean, so the answer is, it's hard to say at this point. Starting first with sales growth for our three geographic segments. We’ll watch as this evolves. And as those headwinds go away in the back half, I'm just curious why, you know, perhaps Pharma couldn't come in better? So you can model down from there to see what a low-end assumption would be. Now that did not show up in our Q1 results because of the sales surge that occurred in the last couple of weeks in March. And then the addition of some monitoring capabilities will make us strong as you can if you you heard this morning and you read this morning, we had made a couple of investments in algorithm technology and artificial intelligence technology. I also wanted to take a moment to discuss the recent advancing American Kidney Health initiative announced by the White House earlier this month. Sure. Thanks, Joe, and good morning everyone. If the pandemic were to end today, should we be able to recoup the vast majority of those expenses in next year's budget? Sales in Europe, Middle East and Africa advanced 10% on both the constant currency and operational basis. First question is on your guidance related to COVID. Turning to our second quarter 2020 results. The home therapies is the way to go for the right patients. Its operability, it's our drug library, so we have customers who have been our customers for a long time and it's not for them to renew, they like the -- innovation and evolution of the product and they just buy it. We do not expect material changes to our planned R&D investments in the year since driving meaningful innovation remains critical to our long-term business health. So all of these things will kind of impact us, and we’re going to watch carefully. The first part is, you've been sort of huddling a headwind as you've exited the HD businessi -- the in-center HD business, at what stage does that annualize, we don't see that anymore? I know you’ve talked about overtime labor, PPE and shipping. We’re over $4 billion. It sounds like the issue with infusion sets. We have added multiple shifts with all factories that manufacture products used in COVID-19 care, currently operating 24 hours a day, seven days a week. Bob, and we are if you all remember, about two years ago, we had the Hurricane Maria that taught us quite a bit of a lesson, and we had modified our supply chain to a point that our fluids today don't have any constraint with the exception of our Mini-Bag Plus. It's a non-COVID-related question. And then I just also wanted to see if we can get a little more color on Medication Delivery. Okay. We put extra shifts, more people. And then from an admissions rate standpoint, we do expect a sequential recovery, but we're modeling down several kind of low single digits versus the prior year in Q4. And we'll do it as soon as we can. So, I figured this moment that between everything that is happening in the mark, I know in the market and the things are happening in Baxter that we can't sit here and say what we told you last year, we reconfirmed today, OK? Okay. And underlying that assumption or the assumptions that I laid out for Pito in the U.S. and then kind of similar assumptions, although a little bit of a better marketplace in Europe and Asia Pacific. Good morning guys. Cumulative Growth of a $10,000 Investment in Stock Advisor, Baxter International Inc (BAX) Q2 2019 Earnings Call Transcript @themotleyfool #stocks $BAX, Baxter International Inc (BAX) Q2 2020 Earnings Call Transcript, Baxter Beats Q1 Estimates as COVID-19 Boosts Sales, COVID-19 Has U.S. Our next question comes from David Lewis with Morgan Stanley. From this point on when the demand surge is up a little bit, I think hospitals, I don't know if they will have the capacity to stockpile significant volumes of products. We carried after we received the news from CMS. Those are the four areas, three areas with one divided into 2, that I would say are the major drivers for the company future.
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