AbbVie lowers 2024 earnings forecast by $0.04 per share
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AbbVie (NYSE:ABBV) has lowered its 2024 earnings forecast due to the impact of certain R&D and acquisition-related expenses it expects to record in the third quarter.
The drugmaker said its Q3 GAAP and non-GAAP earnings will be reduced by $0.04 per share due to acquired IPR&D and milestone expenses amounting to $82M on a pre-tax basis.
AbbVie (ABBV) now expects to report Q3 adjusted EPS of $2.88 to $2.92 and 2024 adjusted EPS of $10.67 to $10.87, according to an SEC filing Thursday evening.
Following its acquisition of Cerevel on Aug. 1, AbbVie (ABBV) said that it expected to report Q3 adjusted EPS of $2.92 to $2.96 and 2024 adjusted EPS of $10.71 to $10.91.
Analysts, on average, had forecasted AbbVie (ABBV) would report Q3 adjusted EPS of $2.95 and 2024 adjusted EPS of $10.87. AbbVie (ABBV) is expected to release its Q3 earnings report on before market open on Oct. 30.