Baxter International's stock surged 19.64% during intraday trading on Thursday, fueled by a strong second-quarter earnings report that significantly exceeded analyst expectations and an upward revision to its full-year guidance.

The company reported adjusted earnings of $0.56 per share, crushing the consensus estimate of $0.37. Quarterly revenue rose 5% to $2.96 billion, also beating the $2.80 billion forecast. Key growth was driven by its Medical Products and Therapies segment, which includes IV solutions, where sales climbed 7% to $2.08 billion, aided by strong demand in drug compounding and IV solutions.

Looking ahead, Baxter raised its full-year 2026 adjusted profit outlook to a range of $1.95 to $2.15 per share, up from its previous forecast of $1.85 to $2.05, and well above the analyst consensus of $1.91. The company also lifted its reported sales growth forecast to 3%-4%, signaling confidence in its ongoing turnaround efforts and demand for its medical products.