Abbott Labs (ABT) Tops Q3 EPS by 3c; Raises FY14 EPS Midpoint

Abbott Labs (NYSE: ABT) reported Q3 EPS of $0.62, $0.03 better than the analyst estimate of $0.59. Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $5.62 billion.

• Worldwide sales of $5.6 billion from both continuing and discontinued operations increased 5.6 percent on an operational basis and 4.7 percent on a reported basis in the third quarter.
• In September, Abbott completed its acquisition of CFR Pharmaceuticals, more than doubling Abbott's branded generics pharmaceuticals presence in Latin America.
• In its Medical Devices business, Abbott received European approval for its revolutionary FreeStyle® Libre Flash Glucose Monitoring System that eliminates routine finger pricks and finger-prick calibration. Abbott also announced positive one-year results from the ABSORB II randomized clinical trial, demonstrating that the Absorb Bioresorbable Vascular Scaffold is comparable to XIENCE, Abbott's leading drug-eluting stent.

Abbott Labs sees FY2014 EPS of $2.25-$2.27, versus prior guidance of $2.19-$2.29 and the consensus of $2.24.

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

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