Abbott Q1 revenue $9.7B, adj EPS $1.03; base business organic growth 10.0%

ABBOTT LABORATORIES

2023-Q1 EPS reported $0.75 revenue$9,747,000,000

Q1 GAAP EPS $0.75; adjusted EPS $1.03; revenue $9.747B, down 18.1% reported, but organic base business up 10.0%.
Full-year 2023 adjusted EPS guidance unchanged at $4.30-$4.50; COVID testing-related sales forecast ~$1.5B.
Medical Devices organic sales grew 12.4%; FreeStyle Libre sales $1.2B with ~50% U.S. growth.
Nutrition organic sales up 10.3% (Pediatric +18.4% organic); Diagnostics ex-COVID tests organic +4.4%.
Dividend of $0.51/share declared, payable May 15; 51 consecutive years of dividend increases.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ABBOTT LABORATORIES reported first quarter ended March 31, 2023 results: revenue $9.7 billion, EPS First-quarter GAAP diluted EPS of $0.75 and adjusted diluted EPS of $1.03. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $9.7 billion
EPS: First-quarter GAAP diluted EPS of $0.75 and adjusted diluted EPS of $1.03
Guidance: reaffirmed
Result: reported results

Exact text from the filing

in accordance with GAAP. --- EX-99.1 (EX-99.1) --- 9.1 News Release Abbott Reports First-Quarter 2023 Results; Increases Outlook For Underlying Base Business – Sales of $9.7 billion driven by strong underlying base business performance – Reported sales decreased 18.1 percent due to anticipated decline in COVID-19 testing-related sales versus prior year –

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Source: SEC EDGAR

accession 0001628280-23-012020

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