Abbott Q2 EPS $1.14 GAAP, $1.43 adj; raises FY adj EPS view to $4.90+

ABBOTT LABORATORIES

2022-Q2 EPS reported $2.51 revenue$23,152,000,000

Q2 sales $11.3B (+10.1% reported, +14.3% organic); GAAP EPS $1.14, adjusted EPS $1.43 (+22.2%).
COVID-19 testing sales $2.3B in Q2; full-year COVID testing revenue projected at $6.1B.
Raised FY 2022 GAAP EPS guidance to at least $3.50, adjusted EPS to at least $4.90.
Nutrition sales down 7.4% reported due to infant formula recall; Adult Nutrition organic growth +5.2%.
Medical Devices organic growth +7.5% driven by Diabetes Care FreeStyle Libre (+25.6% organic).

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