Abbott (ABT) Tops Q1 EPS by 2c, Offers Guidance

Abbott (NYSE: ABT) reported Q1 EPS of $0.98, $0.02 better than the analyst estimate of $0.96. Revenue for the quarter came in at $9.96 billion versus the consensus estimate of $9.89 billion.

GUIDANCE:

Abbott sees FY2024 EPS of $4.55-$4.70, versus the consensus of $4.59.

• Abbott projects full-year 2024 diluted earnings per share under GAAP of $3.25 to $3.40. Abbott forecasts specified items for the full-year 2024 of $1.30 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 would be $4.55 to $4.70 for the full-year 2024.

Abbott sees Q2 2024 EPS of $1.08-$1.12, versus the consensus of $1.12.

• Abbott projects second-quarter 2024 diluted earnings per share under GAAP of $0.69 to $0.73. Abbott forecasts specified items for the second-quarter 2024 of $0.39 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 would be $1.08 to $1.12 for the second quarter 2024

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

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