AbbVie lowers 2023 adjusted EPS guidance to $10.57-$10.97 on $280M Q2 IPR&D charge

AbbVie Inc.

2023-Q2 EPS reported $1.26 revenue$26,090,000,000

Q2 2023 includes $280M pre-tax acquired IPR&D and milestones expense, reducing EPS by $0.15.
Full-year 2023 adjusted diluted EPS guidance reduced to $10.57-$10.97 from $10.72-$11.12.
Q2 2023 adjusted diluted EPS guidance now $2.75-$2.85, down from $2.90-$3.00 prior.
Company does not forecast further IPR&D expense beyond Q2 due to uncertainty of timing.
Charge stems from collaborations, licensing agreements, and other asset acquisitions.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AbbVie Inc. updated its second quarter of 2023 guidance (reaffirmed).

Period: second quarter of 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Reported GAAP earnings and adjusted non-GAAP earnings for the second quarter of 2023 are expected to include acquired IPR&D and milestones expense of $280 million on a pre-tax basis, representing an unfavorable impact of $0.15 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. Results for the quarter ended June 30, 2023 have not been finalized and are subject to our financial statement closing procedures.

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Source: SEC EDGAR

accession 0001551152-23-000026

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