Abbott Laboratories (NYSE: ABT) on Thursday reported mixed results for the first quarter of fiscal 2026, with sales beating analysts’ consensus estimates and earnings matching the Street view.
First-quarter sales increased 7.8% to $11.16 billion from $10.36 billion in the year-ago quarter, exceeding estimates. The top line grew 3.7% on a comparable basis.
Earnings, on an adjusted basis, increased 6% to $1.15 per share in Q1 from $1.09 per share in the comparable period of fiscal 2025. The latest number is in line with expectations. On a reported basis, net income dropped to $1.08 billion or $0.61 per share in Q1 from $1.33 billion or $0.76 per share in Q1 FY25.
Management projects full-year 2026 comparable sales growth of 6.5-7.5%1. It forecasts FY26 adjusted earnings in the range of $5.38 per share to $5.58 per share.
“Our first-quarter results were aligned with our expectations to start the year. The acquisition of Exact Sciences adds another high-growth business to the Abbott portfolio, further strengthening our confidence in delivering accelerating growth as we move through the year,” said Robert Ford, CEO of Abbott.