Abbott (ABT) Tops Q2 EPS by 30c, Updates Guidance

Abbott (NYSE: ABT) reported Q2 EPS of $1.43, $0.30 better than the analyst estimate of $1.13. Revenue for the quarter came in at $11.3 billion versus the consensus estimate of $10.31 billion.

GUIDANCE:

Abbott sees FY2022 EPS of at least $4.90, versus the consensus of $4.88.

• Abbott is raising its projected full-year 2022 diluted earnings per share under GAAP to at least $3.50. Abbott forecasts specified items for the full-year 2022 of $1.40 per share primarily related to intangible amortization, costs related to a voluntary recall, expenses associated with acquisitions, restructurings and cost reduction initiatives and other net expenses. Excluding specified items, Abbott is raising its projected adjusted diluted earnings per share to at least $4.90 for the full-year 2022.

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