Abbott (ABT) Reports In-Line Q4 Results, Offers Q1 and FY Guidance

Abbott (NYSE: ABT) reported Q4 EPS of $0.95, in-line with the analyst estimate of $0.95. Revenue for the quarter came in at $8.3 billion versus the consensus estimate of $8.26 billion.

GUIDANCE:

Abbott sees Q1 2020 EPS of $0.69-$0.71, versus the consensus of $0.72.

• Abbott is issuing first-quarter 2020 guidance for diluted earnings per share from continuing operations under GAAP of $0.40 to $0.42. Abbott forecasts specified items for the first quarter 2020 of $0.29 per share primarily related to intangible amortization, acquisition-related expenses, cost reduction initiatives and other expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be $0.69 to $0.71 for the first quarter.

Abbott sees FY2020 EPS of $3.55-$3.65, versus the consensus of $3.60.

• Abbott is issuing full-year 2020 guidance for organic sales growth of 7.0 to 8.0 percent2, which excludes the impact of foreign exchange, and diluted earnings per share from continuing operations under Generally Accepted Accounting Principles (GAAP) of $2.35 to $2.45. Abbott forecasts net specified items for the full year 2020 of $1.20 per share. Specified items include intangible amortization expense, acquisition-related expenses, charges associated with cost reduction initiatives and other expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be $3.55 to $3.65 for the full year 2020.

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

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• AXT appoints Tracy Liu to its board of directors
• Accenture downgraded by TD Cowen on AI concerns