Abbott Laboratories Non-GAAP EPS of $1.21 beats by $0.01, revenue of $10.64B beats by $90M
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Contributor since / Followers
1 month ago
- Abbott Laboratories press release (NYSE:ABT): Q3 Non-GAAP EPS of $1.21 beats by $0.01.
- Revenue of $10.64B (+4.9% Y/Y) beats by $90M.
- Reported sales growth of 4.9 percent; organic sales growth for underlying base business of 8.2 percent, led by double-digit growth in Medical Devices
- Abbott maintains its full-year 2024 organic sales growth guidance range of 9.5% to 10.0%, excluding COVID-19 testing-related sales.
- Abbott now projects full-year diluted EPS on a GAAP basis of $3.34 to $3.40 and projects adjusted diluted EPS of $4.64 to $4.70 ($4.66 consensus), which represents an increase at the midpoint of the guidance range.
- Abbott projects fourth-quarter 2024 diluted earnings per share under GAAP of $0.96 to $1.02. Abbott forecasts specified items for the fourth-quarter 2024 of $0.35 per share primarily related to intangible amortization, restructuring and cost reduction initiatives and other net expenses. Excluding specified items, projected adjusted diluted earnings per share would be $1.31 to $1.37 ($1.34 consensus) for the fourth quarter 2024.
- In October, Abbott’s board of directors authorized a new share repurchase program of up to $7 billion of the company’s common shares.