Abbott Laboratories (ABT) Tops Q2 EPS by 3c; Boosts FY14 EPS Outlook

Abbott Laboratories (NYSE: ABT) reported Q2 EPS of $0.54, $0.03 better than the analyst estimate of $0.51. Revenue for the quarter came in at $5.55 billion versus the consensus estimate of $5.53 billion.

Sales increased 1.9 percent on a reported basis, including an unfavorable 1.1 percent effect of foreign exchange.

International sales, which comprise more than 70 percent of total Abbott sales, increased 4.2 percent on an operational basis and 2.7 percent on a reported basis in the second quarter.

Sales in emerging markets, which comprise more than 40 percent of total Abbott sales, increased 7.7 percent on an operational basis and 4.1 percent on a reported basis in the second quarter. The August 2013 sales disruption in International Nutrition is estimated to have reduced Abbott's sales growth in emerging markets by approximately 1.8 percentage points.

Abbott launched several new products in the second quarter. Highlights include the TECNIS® Symfony extended range of vision intraocular lens (IOL) in Europe and a new diabetes test on the ARCHITECT platform in the U.S. In addition, in its Nutrition business, Abbott opened two new manufacturing facilities and launched several new products to meet increasing global demand for pediatric and adult nutrition.

Abbott Laboratories sees FY2014 EPS of $2.19 - $2.29, versus prior guidance of $2.16 - $2.26 and the consensus of $2.19.

For earnings history and earnings-related data on Abbott Laboratories (ABT) click here.

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