AbbVie Q2 2024 Earnings Preview: Post Gonzalez Era Can Begin On Positive Note

Summary:

  • AbbVie Inc. will announce its Q2 2024 earnings next Thursday, 25th July.
  • The company has a new CEO, with insider Rob Michael taking the reins after long-term CEO Rick Gonzalez’s retirement.
  • Wall Street watches Humira’s revenue post patent expiry in the US closely, and sold stock after Q1 showed a >30% YOY decline.
  • Expectations for Q2 include revenue of $14 billion, and adjusted earnings of $3.05 — $3.09 — slightly ahead of analysts estimates.
  • With AbbVie’s long-term Humira replacements delivering strong growth and winning head-to-head battles against rivals, I am hopeful attention will switch focus from Humira in Q2, and market reaction to be positive.

Baby girl role playing as the CEO of a big company.

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Investment Overview

AbbVie Inc. (NYSE:ABBV), the North Chicago, Illinois-based Pharma giant formed via a spin out of Abbott Laboratories’ (ABT) pharmaceuticals division in 2012, will announce its Q2 2024 earnings next Thursday, 25th July.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of ABBV either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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