Abbott Q1 sales $11.9B (+13.8%), adjusted EPS $1.73; full-year guidance reaffirmed

ABBOTT LABORATORIES

2022-Q1 EPS reported $1.37 revenue$11,895,000,000

Q1 sales $11.9B, +13.8% reported, +17.5% organic; GAAP EPS $1.37, adjusted EPS $1.73.
Global COVID-19 testing sales $3.3B in Q1; full-year testing sales projected ~$4.5B, mostly in H1.
Full-year 2022 adjusted EPS guidance reaffirmed at least $4.70; GAAP EPS at least $3.35.
Nutrition sales -7% reported (-4.4% organic) due to infant formula recall; excluding recall, Nutrition +5%.
Medical Devices +7.4% reported (+11.5% organic); FreeStyle Libre sales ~$1.0B (+20.4% reported).

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