Abbott (ABT) Tops Q2 EPS by 3c, Updates Guidance

Abbott (NYSE: ABT) reported Q2 EPS of $1.14, $0.03 better than the analyst estimate of $1.11. Revenue for the quarter came in at $10.38 billion versus the consensus estimate of $10.37 billion.

GUIDANCE:

Abbott sees FY2024 EPS of $4.61-$4.71, versus the consensus of $4.63.

ABBOTT'S EARNINGS-PER-SHARE GUIDANCE

• Abbott projects full-year 2024 diluted earnings per share under GAAP of $3.30 to $3.40. Abbott forecasts specified items for the full-year 2024 of $1.31 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 $4.61 to $4.71 for the full-year 2024.
• Abbott projects third-quarter 2024 diluted earnings per share under GAAP of $0.85 to $0.89. Abbott forecasts specified items for the third-quarter 2024 of $0.33 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 $1.18 to $1.22 for the third quarter 2024.

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

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