AbbVie Q3 Earnings Preview: Modest guidance raise expected

AbbVie (NYSE:ABBV) is scheduled to announce Q3 earnings results on Wednesday, October 30th, before market open.

Analysts expect profit of $2.92 per share (-1.0% Y/Y) on revenue of $14.28B (+2.5% Y/Y).

Investors are anticipating a modest guidance raise with results.

J. P. Morgan says, “Overall on the qtr, we are anticipating a fairly in-line set of results with continued strength from Skyrizi / Rinvoq, mixed aesthetics results and an in-line Humira number.”

Over the last 2 years, ABBV has beaten EPS estimates 63% of the time and has beaten revenue estimates 63% of the time.

Over the last 3 months, EPS estimates have seen 7 upward revisions and 10 downward. Revenue estimates have seen 12 upward revisions and 2 downward.

J.P Morgan adds that it continues to see ABBV as one of the best-positioned names in their large-cap coverage with a core business that is trending ahead of expectations and Humira becoming less relevant to the story over time.

ABBV is rated as a Hold by SA Quant ratings system, and has risen 33.6% in the last 12 months.