Abbott (ABT) Tops Q1 EPS by 4c, Offers Guidance

Abbott (NYSE: ABT) reported Q1 EPS of $1.03, $0.04 better than the analyst estimate of $0.99. Revenue for the quarter came in at $9.75 billion versus the consensus estimate of $9.66 billion.

GUIDANCE:

Abbott sees FY2023 EPS of $4.30-$4.50, versus the consensus of $4.39.

• Abbott projects full-year 2023 diluted earnings per share from continuing operations under GAAP of $3.05 to $3.25. Abbott forecasts specified items for the full-year 2023 of $1.25 per share primarily related to intangible amortization, restructuring and cost reduction initiatives and other net expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be $4.30 to $4.50 for the full-year 2023.

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