AbbVie (ABBV) Tops Q3 EPS by 1c; Boosts FY16 EPS Outlook

AbbVie (NYSE: ABBV) reported Q3 EPS of $1.21, $0.01 better than the analyst estimate of $1.20. Revenue for the quarter came in at $6.43 billion versus the consensus estimate of $6.56 billion.

• Global HUMIRA sales increased 11.3 percent on a reported basis. Operational HUMIRA sales increased 12.1 percent, excluding a 0.8 percent impact from foreign exchange. Strong global growth was driven by continued momentum across all three major market categories – rheumatology, dermatology and gastroenterology.
• Third-quarter global IMBRUVICA net revenue was $501 million, with U.S. sales of $437 million and international profit sharing of $64 million for the quarter. Total company sales growth was also driven by strong operational growth from Creon and Duodopa.

DIVIDEND HIKE:

AbbVie declared a quarterly dividend of $0.64 per share, or $2.56 annualized. This is a 12.3% increase from the prior dividend of $0.57 per share.

The dividend will be payable on February 15, 2017, to stockholders of record on January 13, 2017, with an ex-dividend date of January 11, 2017.

The annual yield on the dividend is 4.2 percent.

GUIDANCE:

AbbVie sees FY2016 EPS of $4.00-$4.82, versus the consensus of $4.82.

For earnings history and earnings-related data on AbbVie (ABBV) click here.

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