Baxter International's stock plummeted 8.85% in pre-market trading following the release of its fourth-quarter 2025 financial results.

The medical device company reported a significant miss on adjusted earnings per share, posting $0.36 compared to the Ibes estimate of $0.54. More concerning was the reported net loss of $1,128 million for the quarter.

While the company's revenue of $2,974 million exceeded estimates of $2,824 million, the weak bottom-line performance combined with a tepid full-year revenue growth outlook of 0-1% prompted the sharp sell-off.