Abbott Labs Earns $1.73 per Share

Abbott Labs (ABT) kicked off our earnings season this morning by reporting Q1 earnings of $1.73 per share. That beat Wall Street’s estimates of $1.46 per share. That’s an increase of 31% over last year.

Abbott had Q1 organic sales growth of 17.5%. Covid testing made up $3.3 billion in sales.

“Our diversified business continues to perform well in a challenging environment,” said Robert B. Ford, chairman and chief executive officer, Abbott. “We’re particularly pleased with the strong performance we’re achieving in Medical Devices and Established Pharmaceuticals.”

Abott reiterated its guidance for 2022 earnings of $4.70 per share. That assumes $4.5 billion on Covid testing sales.

Posted by on April 20th, 2022 at 7:53 am


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