Oct 30 (Reuters) - Baxter International ( BAX ) on

Thursday trimmed its forecasts for adjusted annual profit and

revenue growth, after missing third-quarter revenue estimates

due to persistent impact from hurricane-related disruptions at a

key manufacturing unit.

Shares of the medical products maker plunged to a more than

20-year low following the results.

Despite an uptick in non-essential medical procedures

during the quarter, the company expects adjusted earnings of

$2.35 to $2.40 per share, down from its prior view of $2.42 and

$2.52 per share.

It lowered its annual sales growth forecast to a range

of 4% to 5% from the previous projection of 6% to 7% on a

reported basis.

Baxter has been pressured by lingering hurricane-related

disruptions at the North Cove facility, which was temporarily

shut last year after flooding from Hurricane Helene.

The facility supplies a large share of U.S. IV fluids

and peritoneal dialysis solutions.

"Within IV solutions, U.S. demand remains below

pre-Hurricane Helene levels...some level of fluid conservation is

likely to remain in 2026," CFO Joel Grade said in a conference

call.

"We expect sales across our infusion pump portfolio to

remain under pressure as we work with our customers to...lift the

shipment and installation hold on Novum."

Baxter had previously halted shipments for the Novum IQ

Large Volume Pump after reports of two deaths and multiple

injuries.

"Investors are left with the question or not just whether

2026 needs to move lower, but how low is low enough," said J.P.

Morgan analyst Robbie Marcus, citing Baxter's fourth-quarter

forecast for adjusted profit.

Adjusted earnings for the third quarter came in at 69 cents

per share, surpassing analysts' average estimate of 60 cents,

according to data compiled by LSEG.

Its quarterly revenue came in at $2.84 billion, missing

expectations of $2.88 billion.