- Abbott has adjusted its forecast for FY adjusted EPS to $4.55 – $4.70 from the previous estimate of $4.50 – $4.70, with an estimate of $4.62.
- In the first quarter, adjusted EPS was 0.98c, lower than last year’s $1.03, but above the estimated 0.95c.
- Net sales for the first quarter were at $9.96 billion, a 2.2% increase y/y, which was more than the estimated $9.89 billion.
- Nutrition sales stood at $2.07 billion and registered a 5.1% increase y/y, slightly below the estimated $2.09 billion.
- Diagnostics sales went down by 18% y/y to $2.21 billion, missing the estimated $2.23 billion.
- COVID-19 testing-related sales dropped by 29% q/q to $204 million, but surpassed the estimated $144.6 million.
- Established pharmaceuticals sales were $1.23 billion, a 3.1% increase y/y, coming slightly below an estimate of $1.24 billion.
- Medical devices sales rose by 14% y/y to $4.45 billion, exceeding the estimated $4.33 billion.
- Diabetes care sales saw a 19% increase y/y to $1.57 billion, higher than the predicted $1.54 billion.
- Abbott’s full-year 2024 organic sales growth guidance, excluding COVID-19 testing-related sales, has been narrowed to a range of 8.5%-10.0%. This signals an increase at the range’s midpoint.
- Projected adjusted diluted EPS for Q2 2024, excluding specified items, is expected to be $1.08 – $1.12.
- Robert B. Ford, Chairman and CEO of Abbot, commented that they had a strong start to the year and indicate they’ll raise their full-year sales and EPS guidance.
- Abbott has delivered double-digit organic sales growth in its base business for the 5th consecutive quarter, notably in Medical Devices and Established Pharmaceuticals.
- The current recommendations for Abbott stands at 17 buys, 7 holds with no sell ratings.
Abbott Laboratories on Smartkarma
Independent analysts on Smartkarma, namely Baptista Research, have provided insightful coverage on Abbott Laboratories, a key player in the healthcare industry. In a report titled “Abbott Laboratories: Focus On Organic Growth Through Robust Product Portfolio! – Key Drivers,” the analysts highlighted Abbott’s strong performance during the Q4 2023 earnings call. With a remarkable 11% growth in 2023 and a 14% increase in organic sales, Abbott showcased resilience and strategic positioning amidst global challenges. Chairman and CEO, Robert Ford, emphasized the company’s robust operating margin and potential for further expansion, particularly in gross margin.
In another report, “Abbott Laboratories: Strong Momentum In Core Business & The China Impact! – Major Drivers,” Baptista Research commended Abbott for surpassing analyst expectations in revenue and earnings. Abbott’s achievement of double-digit organic sales growth across major businesses, excluding COVID testing, demonstrates its strong market position in high-growth sectors. Analysts attributed the acceleration in sales growth to strategic investments in attractive markets, further solidifying Abbott’s competitive stance in the industry.
A look at Abbott Laboratories Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have evaluated Abbott Laboratories, a company that focuses on health care products and services, providing a comprehensive range of pharmaceuticals, nutritional, diagnostics, and vascular products. According to Smart Scores, Abbott Laboratories has received a positive overall outlook, with strong momentum at 4, indicating good short-term performance.
Looking towards the long-term future, Abbott Laboratories shows promising scores in Dividend, Growth, and Resilience, all at 3. This suggests that the company is positioned well for sustainable growth and stability. Although the Value score is at 2, indicating some room for improvement, the solid ratings across other factors point to a positive outlook for Abbott Laboratories in the coming years.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
